FRANKFORT, Ky. (August 2, 2016) – More Kentucky businesses than ever before are choosing to file their annual business reports online, Secretary of State Alison Lundergan Grimes announced today.
More than 141,000 businesses have utilized the Office of Secretary of State’s online filing system to complete the annual report requirement, breaking last year’s record by more than 1,700, and with more reports being filed daily.
Every entity authorized to do business in the Commonwealth is required to file the report annually, per Kentucky law. To date, approximately 189,400 entities have filed their annual reports, representing approximately 90 percent of all businesses filed with the Secretary of State.
“Kentucky business owners are realizing the time-savings benefits of filing online and, as a result, are saving state government thousands of dollars,” said Grimes, Kentucky’s chief business official.
The online reports include information generated from the entities’ previous filings, eliminating the need to enter the same information every year.
The deadline for businesses to file the report, per law, is June 30 each year; however, businesses that fail to meet that deadline receive a final notice. Businesses that fail to file their annual reports and pay the $15 filing fee by September 30, 2016, will be administratively dissolved or have its authority to do business in Kentucky revoked.
“The final deadline for entities to file annual reports is fast approaching. Only about 10 percent of all Kentucky businesses need to fulfill their obligation to file with our office. I encourage all businesses who have not completed an annual report to do so quickly by going online to the Secretary of State’s website,” said Grimes.
The annual report filing requirement applies to the more than 200,000 corporations, limited liability companies, partnerships, limited liability partnerships, business trusts and professional service corporations registered in the Commonwealth.