CALIFORNIA STATEMENT OF INFORMATION

When starting a business, such as a Limited Liability Company, there are several essential steps. California requires a Statement of Information filing to complete the process of incorporating or forming a Limited Liability Company in California.

California Statement of Information Filing 

The Statement may be filed electronically. It is due within 90 days of filing your initial Corporation or Limited Liability Company. There is a fee of $25 for a corporation or $20 for an LLC. Your California Statement of Information filing should be done yearly as required.

What Happens If the Form is Not Filed?

If the Statement of Information is not filed in the first 90 days, then the Secretary of State of California will notify you and give you more time. Eventually, if the form isn't filed you will be penalized $250. If still not filed, then the Secretary of State will increase the penalty for not filing to $400.00. 

If the form is still not filed then the California Secretary of State will suspend your entity. The consequences of suspension are significant. If you are suspended, you are no longer a valid entity, meaning you cannot defend yourself in a lawsuit or be the plaintiff in any lawsuit. You cannot conduct business as a suspended entity. Further, your entity name is now available for another person to use. The easiest way to avoid any problems is to file the initial Statement of Information. 

What Do I Include in the California Statement of Information Form?

The Statement indicates the headquarters address and the registered agent for the Corporation or Limited Liability Company. Corporations need to include a list of the officers and directors of the Corporation signed by an officer for the California Statement of Information Form.

Do you Need an Incorporation Lawyer to Incorporate?

It can be a costly option to hire an incorporation lawyer, whether locally or online. It is understandable to question ‘Do I need an incorporation lawyer to incorporate?’ While the process might be very confusing and time-consuming if you were to research the whole process of forming a Limited Liability Company in California, there is another option.

The Legal Stepz course will provide you with the knowledge you need to incorporate your California business and provide the information you need on all aspects, such as what you need to do for your California Statement of Information filing.

FAQs

What is a registered agent for an LLC?

When you register to form a limited liabilty company, or LLC you will need to include lots of information, such as a registered agent. The Legal Stepz course can help you work through this process.

FAQs

Owners have no personal liability under which legal business structure?

A California Statement of Information is required to be filed when forming a limited liability company, or LLC. One advantage of forming an LLC is that the business owner is not personably liable for the business except for assets that have been invested in the company.

Which of the following business ownership structures is the simplest and easiest to set up?

The easiest business entity to set up in the US is the sole proprietorship. There is more to the process of forming other business entities such as a limited liability company, or LLC. Options to help you through the more involved formation processes include a business attorney, online formation companies, doing it yourself or the Legal Stepz courses.

Final Word

When incorporating a business or forming a Limited Liability Company in California, you need to file a California Statement of Information form. You should not delay as this can have significant repercussions. If you would like an easy way to work through the incorporation process, learn how to incorporate your business with the Legal Stepz courses.