Annual reports filed with the Secretary of State in Maryland are official documents that provide a comprehensive overview of a business's financial performance, operations, and management throughout the previous year. These reports are required by law and serve as a way for businesses to maintain transparency and compliance with state regulations.
Follow the guide below to help you file your annual report with the Secretary of State in Maryland or use Mosey to do it.
Use Mosey to automate annual reports in Maryland.
Avoid the hassle of doing it yourself and use Mosey to automate foreign qualification, annual reports, and registered agent service.
Maryland Annual Report for LLC, LLP, Corporation
If you are registered with the State Department of Assessments and Taxation as of January 1 of the current year, you are required to file an annual report (Form 1). If you own, lease, or use personal property located in Maryland, you have to file a Business Personal Property Tax Return together with the annual report. Note: Nonprofit organizations exempt under IRS 501(c) must file an annual report (Form 1), but may qualify for exemption from the Business Personal Property Tax obligations by filing an Exemption Application for Charitable/Educational Organizations form with the State Department of Assessments and Taxation.
File Exemption Application (501(c) Nonprofits Only)
501(c) nonprofit organizations must file a completed Exemption Application for Charitable/Educational Organizations with the State Department of Assessments and Taxation by email. Note: You must also include: (1) A copy of the IRS Determination Letter, (2) A copy of the most recently filed IRS Form 990, (3) A statement showing how fees are allocated to all customers/clients, and (4) Brochures, pamphlets, or website address for the organization.
File Annual Report Online
Log in to your Maryland Business Express account to file your annual report online. The system will determine if you are subject to Business Personal Property Tax.
What else do I need to know?
There may be additional things you will need to do to maintain your "good standing" in the state including having a registered agent and other kinds of taxes.
Maintaining a Registered Agent
Most states require that you have a registered agent that can receive important mail from the Secretary of State should they need to contact you. There are many commercial options available or you can use Mosey to be your registered agent and keep your information private in Maryland.
Other Taxes
In addition to maintaining a registered agent, maintaining your good standing can include additional taxes. This can include franchise tax, sales tax, or other state taxes. You can use Mosey to identify these additional requirements to maintain good standing in Maryland.
