Formation & Compliance

New LLC annual report and franchise tax: 7 states

See when a new LLC's first annual report or state tax comes due in seven states, what each filing costs, and what happens if you miss one.

By save biz teamPublished

Nine circular fields seen from high above in muted terracotta, rust, and rose tones, eight with a thin irrigation arm stopped at a different angle like a clock hand and one field left pale and faded with no arm, suggesting state filings that come due at different times of the year

Key takeaways

  • Delaware: a limited liability company (LLC) files no annual report. It pays a $400 annual tax by June 1 for the previous calendar year. There is no proration for a partial year. The $400 rate took effect January 1, 2026.
  • The first filings after that come the year after formation. Wyoming's annual report is due on the first day of the formation month, with a license tax of at least $60. Florida's annual report is due between January 1 and May 1. Texas's franchise tax filing is due by May 15. Each then repeats every year.
  • California collects early. A $20 Statement of Information is due within 90 days of registering. The $800 annual tax is due by the 15th day of the fourth month from the date you register. For an LLC registered January through September, both fall in the formation year.
  • New York has three separate obligations. First, newspaper publication within 120 days of formation, with proof filed. Second, a $9 biennial statement. Third, an annual filing fee to the tax department, if the LLC has New York source income and is treated as a partnership or disregarded entity. New Mexico's Limited Liability Company Act has no annual report requirement.
  • Missing a date costs more than a late fee. A Delaware LLC stops being in good standing when the tax goes unpaid. Florida dissolves an LLC that has not filed by the third Friday in September. Texas can forfeit an LLC's right to transact business.

Seven states side by side

State rules as of October 10, 2026, for an LLC formed in that state. A foreign LLC registered in the state generally has the same obligations, covered under "If the LLC was formed in another state" below.

StateWhat is due, and to whomFirst oneAfter thatAmountIf you miss it
DelawareAnnual tax to the Division of Corporations. No annual reportJune 1 of the year after formation, for the formation yearEvery June 1, for the prior year$400, not prorated$200 penalty plus 1.5% interest a month; the LLC stops being in good standing
WyomingAnnual report with license tax to the Secretary of StateFirst day of the formation month, the year after formationEvery year on that date$60, or $0.0002 per dollar of Wyoming assets if greaterAdministrative dissolution if not filed within 60 days after the due date, per the Secretary of State
New MexicoNothing under the Limited Liability Company ActNoneNoneNoneNot applicable
TexasFranchise tax report with a Public Information Report or Ownership Information Report, or only the information report at or below the no tax due threshold, to the ComptrollerMay 15 of the year after formationEvery May 15Tax only above the no tax due threshold: $2,650,000 of annualized total revenue for 2026 and 2027 reports$50 per late report and 5% or 10% of late tax; forfeiture of the right to transact business
CaliforniaStatement of Information to the Secretary of State; annual LLC tax to the Franchise Tax BoardStatement within 90 days of registering; tax by the 15th day of the 4th month from the registration dateStatement every two years; tax every year by the 15th day of the 4th month of the tax year$20 statement; $800 tax, plus an LLC fee starting at $900 when total California income is $250,000 or more$250 penalty for a late statement; suspension for unpaid tax
FloridaAnnual report to the Department of StateBetween January 1 and May 1 of the year after formationEvery year, January 1 to May 1$138.75$400 late charge after May 1; administrative dissolution if not filed by the third Friday in September
New YorkNewspaper publication and a certificate of publication; biennial statement to the Department of State; filing fee to the Department of Taxation and Finance if the LLC is treated as a partnership or disregarded entity and has New York source incomePublication and certificate of publication within 120 days of formation; filing fee by the 15th day of the 3rd month after the tax year endsBiennial statement every two years in the formation month; filing fee every year$9 biennial statement; filing fee from $25 to $4,500Authority to do business suspended until the certificate of publication is filed; biennial statement shown as past due

Some of those cells need more detail from the sources. Delaware assesses the tax for any year the LLC exists, with "no proration on alternative entity taxes." An LLC formed in December still owes the full $400 for that year. Delaware's 2026 law, 85 Del. Laws c. 273 (House Bill 400), set the $400 rate, so older guides that give $300 for 2026 and later are out of date. Florida's $138.75 is a $50 annual report fee plus an $88.75 supplemental corporate fee (Florida Statutes sections 605.0213(5) and 607.193(1)). Texas measures its threshold by annualized total revenue. A business at or below the threshold files no tax report, but it still files the Public Information Report or the Ownership Information Report. California's LLC fee is based on total California income, not worldwide receipts. The fee is estimated and paid by the 15th day of the sixth month of the tax year.

The first year for an LLC formed on June 18, 2026

Here is one formation date run through each state's rules. The California date matches the Franchise Tax Board's own example, which uses June 18 as the registration date.

StateFirst state filing or payment
California$800 annual tax by September 15, 2026, and the Statement of Information within 90 days, by September 16, 2026
New YorkPublication completed and the certificate of publication filed within 120 days, by October 16, 2026. If the LLC is treated as a partnership or disregarded entity and has New York source income, its filing fee for 2026 is due March 15, 2027, and it is $25, the lowest fee: a disregarded LLC pays a flat $25, and a partnership LLC's fee is based on the prior year's New York source gross income, which was zero because the LLC did not exist in 2025
FloridaFirst annual report between January 1 and May 1, 2027. May 1 is a Saturday that year, so the last weekday in the window is Friday, April 30
TexasFirst franchise tax filing by May 17, 2027: the Public Information Report or Ownership Information Report, plus a tax report only above the no tax due threshold. May 15 falls on a Saturday, and the Comptroller moves the due date to the next business day
Delaware$400 for 2026 by June 1, 2027
WyomingFirst annual report and license tax by June 1, 2027
New MexicoNothing under the Limited Liability Company Act

After the first year, the dates repeat on each state's cycle. California's tax is due every year. California's Statement of Information is due every two years, in a six-month window that ends with the registration month. New York's biennial statement is due every two years in the formation month. For Delaware, Wyoming, Texas, and Florida, the date comes once a year. Federal deadlines run separately; estimated tax for an LLC has its own four dates.

What happens if you miss one

Delaware. If the tax is not paid by June 1, the LLC owes a $200 penalty, and interest of 1.5% a month runs on the tax and the penalty. Under 6 Del. C. § 18-1107(h), an LLC that fails to pay the annual tax when due "shall cease to be in good standing." Under § 18-1107(k), the Secretary of State will not issue it a certificate of good standing until the LLC is restored to good standing. If the tax stays unpaid for three years from its due date, the certificate of formation is canceled under § 18-1108(a). A canceled LLC can file a certificate of revival under § 18-1109.

Wyoming. The Secretary of State says an LLC "will be deemed delinquent on the second day of the month following its due date," and that if the annual report "is not filed within sixty (60) days following the due date, the entity will be administratively dissolved." The statute counts the 60 days from the Secretary of State's notice, not from the due date. Under W.S. 17-29-705(b), an LLC that has not complied within 60 days of the notice forfeits its articles of organization. It can be revived within two years after the forfeiture by paying the delinquent fees.

Texas. A report filed after the due date costs $50. Tax paid 1 to 30 days late adds 5%, and more than 30 days late adds 10%, with interest starting 61 days after the due date. If, 45 days after a forfeiture notice, the report is still not filed or the tax is still unpaid, the Comptroller can forfeit the LLC's right to transact business in Texas (Tax Code sections 171.251 and 171.2515). The LLC then cannot sue or defend in a Texas court. If it does not revive that right within 120 days after the forfeiture, the Secretary of State can forfeit its charter or registration (section 171.309).

California. A late Statement of Information draws a $250 penalty. The Franchise Tax Board assesses it after the Secretary of State sends a delinquency notice and 60 more days pass without a filing. Not filing the statement is also grounds for suspension. An LLC that does not file its return or pay its tax can be suspended, or forfeited if it is a foreign LLC. The Franchise Tax Board says a suspended or forfeited business "is not in good standing and loses its rights, powers, and privileges to do business in California." Such a business also cannot bring or defend an action in court.

Florida. A report filed after May 1 carries a $400 late charge under section 607.193(2)(b). An LLC that has not delivered its report by 5:00 p.m. Eastern Time on the third Friday in September is administratively dissolved on the fourth Friday in September (section 605.0714). Until it files the report and pays the fees and penalties due, it cannot maintain or defend an action in a Florida court (section 605.0212(6)). The application to reinstate costs $100 (section 605.0213(6)).

New York. This entry covers the two Department of State filings, the certificate of publication and the biennial statement, not the tax department's filing fee. Publication means a notice once a week for six weeks in two newspapers designated by the county clerk, followed by filing a certificate of publication. If that is not done within 120 days, the LLC's authority to carry on business is suspended from the end of the 120 days. The suspension is annulled when the certificate is filed. A biennial statement that is not filed shows as past due, which the Department of State says "may prevent the corporation or LLC from completing certain business transactions."

New Mexico. There is no annual or other periodic report to miss under the Limited Liability Company Act. New Mexico's income and gross receipts taxes are separate obligations.

If the LLC was formed in another state

A foreign LLC, one formed elsewhere and registered to do business in the state, carries most of the same obligations:

  • Delaware. The $400 tax applies to every foreign LLC registered there, and one that does not pay "shall cease to be registered."
  • Wyoming. The report and license tax apply to a foreign LLC with a certificate of authority.
  • Florida. The first annual report is due the year after the certificate of authority is issued.
  • California. The Statement of Information covers registered foreign LLCs.
  • New York. The biennial statement applies to foreign LLCs, and so does the filing fee on the same terms as for a New York LLC. A foreign LLC also publishes a notice once a week for six weeks, in two newspapers designated by the county clerk, and files a certificate of publication. Both must be done within 120 days after it files its application for authority. If it does not, its authority to do business is suspended until the certificate is filed (Limited Liability Company Law section 802(b)).
  • Texas. For a foreign LLC, the franchise tax clock starts on the day it begins doing business in Texas.

California adds a timing rule for an LLC formed in another state. Sometimes the 15th day of the fourth month of the tax year has already passed before the LLC registers or begins doing business in California. In that case, the Franchise Tax Board says to pay the $800 immediately after registering or starting business. Doing business in a state can require registering there. Forming in one state can therefore mean paying two states. The first- and second-year costs of a Wyoming or Delaware LLC show this with California as the example.

A Delaware corporation runs on different dates

The filings above are for LLCs. A Delaware corporation files an annual report and pays franchise tax by March 1. The report fee is $50. The minimum tax is $175 under the authorized shares method, or $400 under the assumed par value capital method. If you are weighing the two forms, see choosing between an LLC and a C corp. If you already have an LLC, see converting an LLC to a C corp.

FAQ

What states require an annual report from an LLC? Of the seven states in this guide, Wyoming and Florida require an annual report. California requires a Statement of Information every two years. New York requires a biennial statement. Texas requires an annual franchise tax filing, which at or below the no tax due threshold is only a Public Information Report or an Ownership Information Report. A Delaware LLC files no annual report but pays an annual tax, and New Mexico's Limited Liability Company Act has no annual report requirement.

When is a Florida LLC's annual report due? Between January 1 and May 1 each year, starting the year after formation. After May 1 a $400 late charge applies, and an LLC that has not filed by the third Friday in September is administratively dissolved the following Friday.

Does a Texas LLC with little revenue owe franchise tax? Not if its annualized total revenue is at or below the no tax due threshold, $2,650,000 for 2026 and 2027 reports. It still files a Public Information Report or Ownership Information Report by May 15.

Is the Delaware LLC annual tax $300 or $400? $400 for 2026 and later. A 2026 Delaware law raised it, effective January 1, 2026, so the tax for 2026 is $400 and is due June 1, 2027.

Does a New Mexico LLC file anything with the state each year? New Mexico's Limited Liability Company Act (NMSA 1978 sections 53-19-1 to 53-19-74) contains no annual report requirement. The state's income and gross receipts taxes are separate obligations that depend on the business.

Sources

This guide is general information based on the sources listed above, not legal or tax advice. For decisions about your situation, talk to a licensed attorney, CPA, or enrolled agent.

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