LLC Annual Report Fees

[Cameron Andrews]

Hello!

Is anyone aware of alternatives to paying LLC annual report fees? There's a hefty $300 minimum per LLC in Tennessee.

This will become more important with numerous LLCs.

I know this is a question for a CPA and/or lawyer, but figured that others are likely wondering too. I also realize this can possibly be claimed as a business expense, but this does seem like an exorbitant record keeping fee which could ideally be avoided altogether.

Thanks guys,

Cameron

[Christopher Phillips]

@Cameron Andrews

Fees are a function of state departments. You don't need to be a CPA or a lawyer to set them up or understand them. 

Filing fees and annual reporting fees are set by each state and are dramatically different from one state to another and sometimes set by different departments.

They are what they are. You have to pay them to stay in compliance. There's no way around them. Even if your LLC doesn't make any money.