DOES MY BUSINESS NEED TO PAY FOR AN ANNUAL RENEWAL?

No. To back up a bit, every year, your business needs to file an annual renewal.

There are some businesses out there that offer a service where they file the annual renewal for you for a fee. However, you must provide them with all the information needed for the annual renewal in the first place. The fee is for them and not the secretary of state.

There is a caveat to this statement that there is no fee. If you do not file the renewal on time, the secretary of state administratively dissolves the business, which is really more like a suspension. In order to reinstate the business, a fee is required. For most businesses, the fee for reinstatement is $25. However, as long as the annual renewal is done in a timely fashion, you need not pay the reinstatement fee.

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