The State Legislature implemented a new law requiring Limited Liability Companies (LLCs) to file an annual report with the Secretary of State’s Office or face administrative dissolution. This is the first year LLCs were required to file an annual report with the Agency.
The annual report provides much-needed transparency in who and what is conducting business in Mississippi. The state has over 100,000 LLCs registered at the Secretary of State’s office, many of which are now defunct. This poses business identity theft issues, as well as warranty and consumer issues.
The filing deadline was April 15, 2011 and has been extended until December 5, 2011. While approximately 50,000 LLCs have filed, over 40,000 LLCs have not filed as of today.
We recommend our MS clients and to file the annual report if you have not already done so. LLCs may file their annual report by visiting the Business Services page of Secretary of State’s website at www.sos.ms.gov. There is no fee for in-State LLCs to file their annual report.
Inquires can be made by contacting the the Business Services Division of the Secretary of State’s Office at (601) 359-1633.