File your Annual Report

• Personal Property Return/Annual Report. The State of Maryland requires you to file a personal property return (PPR) for your LLC each year.

• You have the option of filing your Corporation and LLC Annual Report online or by mail. To file online, visit the Maryland State Department of Assessments and Taxation’s website, the Maryland Business Express, otherwise, you can fill out the Annual Report form by downloading and filling out the Annual Report – Form 1.

When do I need to file my annual report in Maryland?

Due Date and Frequency for an Annual Report in Maryland You will need to file an Annual Report with the Department of Assessments and Taxation (and Personal Property Tax Return, if applicable) every year your LLC is active. Both submissions are due by April 15th, the same as your federal and state taxes.

What are the annual report requirements for an LLC?

Once your LLC is formed, paperwork with the state is not over. As a part of the ongoing requirements for your LLC, your state requires that you file an Annual Report and pay a filing fee every year. Want to watch a video about Annual Report requirements? The Annual Report can take many names: And not all Annual Reports are “annual”.

How much does it cost?

Costs vary from state to state. Some are free while others can be several hundred dollars. At $300, Maryland’s fee is fairly steep, so make sure you set aside this money each year to cover your Annual Report.

What Happens if You Don’t File?

Failing to file your Annual Report and/or Personal Property Tax Return can yield some serious consequences.

Late fees are calculated based on your county assessment and how late you submit your report, so the state will mail you a bill. However, according to these annual reporting instructions, it can be as high as $500. Plus, if you fail to file an Annual Report, the state can potentially dissolve your LLC.