Businesses Warned of Legal Repercussions for Failing to Meet June 30 Filing Deadline

Lieutenant Governor Tregenza Roach has issued a reminder to all registered profit and non-profit corporations, partnerships, and limited liability companies operating in the territory. The annual filing requirement, a statutory requirement for entities to remain in "Good Standing" to conduct business in the territory, has a deadline of June 30, 2023. To retain their good standing status and avoid penalties, corporations must pay their franchise taxes and filing fees, and submit corresponding reports to the Division of Corporations and Trademarks before the cut-off date. Non-compliant entities will face immediate consequences, starting from July 1, 2023. Late filings will trigger the imposition of penalties and interest. In addition, the business entity's status will be changed to "Registered," thereby inhibiting the ability to obtain a certificate of good standing to conduct business, submit amendments, and voluntary dissolutions. Entities that fail to meet their annual filing and ...