The short answer: Almost every state charges its LLCs an annual (or biennial) upkeep fee, but the price spreads wildly — from $0 in four states to $350 a year in Nevada. Watch the “free” states most carefully: Idaho, Minnesota, Mississippi, and Montana charge nothing but still require the filing, and missing a $0 filing kills your good standing just as dead as missing a $300 one. All figures verified October 2026.
What an annual report actually is
An annual report (also called a statement of information, annual statement, or biennial statement depending on the state) is a short filing that tells the state your LLC still exists, where to reach it, and who its registered agent is. That’s it — a few lines of updated information, filed on a schedule, with a fee attached.
Two things it is not:
- It is not a tax return. It doesn’t report income or calculate what you owe. Franchise taxes and income taxes are separate filings with separate bills — California’s $800 franchise tax, for example, is owed whether or not you file the $20 Statement of Information, and vice versa.
- It is not optional. Filing keeps your LLC in “good standing” with the state. Falling out of good standing can block you from signing contracts, defending a lawsuit in state court, getting a business loan, or selling the business — and eventually the state can dissolve the LLC administratively, wiping out the liability protection you formed it for.
The form takes minutes. The consequences of skipping it do not.
The price spread: notable states
The full 50-state table lives on our LLC Formation Cost by State page. Here are the states worth knowing by name, because they define the range:
| State | What it’s called | Fee | Cadence |
|---|---|---|---|
| Nevada | Annual List of Managers + State Business License (bundled) | $350/yr ($150 + $200) | Annual |
| District of Columbia | Biennial Report | $300 | Every 2 years |
| Maryland | Annual Report + Personal Property Return (combined) | $300/yr | Annual |
| Wyoming | Annual Report (license tax) | $60/yr | Annual |
| California | Statement of Information | $20 | Every 2 years |
| New York | Biennial Statement | $9 | Every 2 years |
| Delaware | None — but the $300/yr LLC tax still applies | $0 report / $300 tax | Annual tax |
A few things to notice. Nevada’s “no franchise tax” pitch costs $350 a year in bundled reports — more than Delaware’s much-maligned $300 annual tax. And New York’s Biennial Statement is the cheapest nonzero filing in our dataset at $9 — but New York will still mark you not in good standing for skipping a $9 form. The fee’s name tells you nothing about the total.
The $0 trap: free to file, mandatory to file
Four states charge $0 for the LLC annual report — and the filing is still required:
- Idaho — annual report, $0
- Minnesota — annual renewal, $0
- Mississippi — annual report, $0
- Montana — annual report, $0
This is where owners get burned. The logic is understandable: no bill arrives, no payment is due, so nothing reminds you the deadline exists. Montana has the cheapest LLC formation fee in the country ($35) — and a free annual report that’s easy to forget entirely. The states don’t care that the fee was $0. Miss the filing, and the same machinery starts: loss of good standing, late consequences, eventual administrative dissolution. Free does not mean optional. Put it on your calendar the day you form.
The every-two-years states
Eight jurisdictions file on a biennial cycle — every two years instead of annually. Less paperwork, not less obligation, and two years is long enough to forget a deadline:
| State | Fee |
|---|---|
| District of Columbia | $300 |
| Alaska | $100 |
| Kansas | $50 |
| Indiana | $32 |
| Iowa | $30 |
| Nebraska | $25 |
| California | $20 |
| New York | $9 |
If your state is on this list, note the cycle carefully — biennial deadlines are easier to miss than annual ones, because two years is long enough to forget. California’s Statement of Information is due within 90 days of initial registration and then every two years; New York’s Biennial Statement is due by the end of your anniversary month every two years.
States with no annual report at all
Nine states require no LLC annual report:
Alabama, Arizona, Arkansas, Delaware, Missouri, New Mexico, Ohio, South Carolina, Texas.
“No annual report” does not mean “no ongoing obligations.” Delaware LLCs still owe the $300 annual LLC tax. Texas LLCs still have franchise-tax reports to file. The paperwork differs; the upkeep doesn’t disappear. When comparing states, compare the total annual cost — report plus tax plus agent — not just whether a report exists.
What happens if you miss one
Consequences escalate, and the specifics vary by state — treat everything below as the general shape, and check your Secretary of State for exact amounts:
- Late fees. California can assess a $250 penalty for a late or missing Statement of Information; Wyoming sources report a late fee of about $25 plus interest. Amounts and grace periods differ everywhere.
- Loss of good standing. The quiet damage: financing gets harder, certain contracts and licenses get blocked, and your status is public record — counterparties can look it up.
- Administrative dissolution. Keep ignoring the filings and the state dissolves the LLC on its own. The liability protection you paid for is gone, and owners can be personally on the hook for business debts.
Reinstatement is possible in most states, but it means filing everything you missed, paying every fee plus penalties, and sometimes a separate reinstatement fee — always more expensive and more annoying than filing on time.
The LLC Formation Cost Calculator includes each state’s annual report fee in its year-by-year comparison — use it to see the true ongoing cost, not just the filing fee, before you form.
The compliance-alert upsell
You’ll notice many registered-agent services sell “compliance alerts” or “annual report filing service” as an add-on. Some include deadline tracking for free; others charge $50–$100 a year. It’s not a scam — missing a deadline is expensive — but a free calendar reminder on the day you form does the same job. If they’re charging extra, know what you’re buying.
Methodology
Fee figures come from our 51-jurisdiction LLC dataset, compiled and last verified October 2026, including: Nevada ($75 filing, $350/yr bundled Annual List + State Business License, no franchise tax), District of Columbia ($300 biennial report), Maryland ($300/yr combined Annual Report + Personal Property Return), Wyoming ($100 filing, $60/yr annual report, no franchise tax), California ($70 filing, $20 biennial Statement of Information, $800/yr franchise tax), New York ($9 biennial statement), Delaware ($110 filing, no LLC annual report, $300/yr LLC tax), Montana ($35 filing), and the $0-but-mandatory annual reports of Idaho, Minnesota, Mississippi, and Montana. Late-penalty examples (California’s $250 Statement of Information penalty; Wyoming’s reported ~$25 late fee) come from secondary sources checked in October 2026 — treat exact penalty amounts as approximate and confirm with the relevant Secretary of State before relying on them. This guide covers LLC annual/biennial reports only, not franchise-tax or income-tax filings, and is not legal or tax advice.
Frequently asked questions
Is the annual report the same as my tax return? No. The annual report updates the state’s records about your company (address, agent, managers). Your tax obligations — franchise tax, income tax — are separate filings, usually with a different agency. You can owe one without the other.
My state’s report fee is $0. Do I really have to file? Yes. Idaho, Minnesota, Mississippi, and Montana all require the filing even though there’s no fee. Missing it carries the same consequences as missing a paid filing: loss of good standing and eventual administrative dissolution.
When is my annual report due? It depends on the state — common patterns are the anniversary of your formation date, a fixed calendar date, or (in biennial states) every two years from formation. Check your Secretary of State’s business portal; most let you look up your exact due date online.
Can my registered agent file the annual report for me? Often, yes — many agents offer it as an included feature or a paid add-on. But the legal responsibility stays with you. If your agent misses it, the state penalizes your LLC, not the agent. Verify it was actually filed; most states have a free online business-entity lookup.
What does “not in good standing” actually cost me? Beyond the reinstatement fees and penalties, the practical costs are the ones that arrive at the worst time: a lender pausing your loan application, a big client requiring a certificate of good standing before signing, or discovering you can’t defend a lawsuit in state court until everything is current. The filing takes minutes; the cleanup takes weeks.