Difference between Annual Report and Tax Return

Tax Return (IRS)

Tax Season is the period when your company must file tax returns with the IRS. These filings include both individual and business declarations, depending on your company’s structure and financial activities. Our team is here to support you with all your tax filing needs.

Annual Report (State)

The Annual Report is a mandatory filing with the State. It serves as the renewal of your company’s registration and must be submitted every year, regardless of whether the company had financial activity or not. Failure to file can result in fines and even the inactivation of your company. In some states, this process is referred to as the Franchise Tax or State Renewal.

Filing Through Our Platform

Both filings can be managed directly through our platform. If you are subscribed to the Scale, Essential or Essential Remote plans, these services are already included in your package.

Please note that the state filing fee must be paid separately. For more information on how to activate these services, please refer to this article.

If you still have any questions or need further assistance regarding this topic, we are here to help!
 
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