Grimes: Kentucky businesses break filing records for third consecutive year

0
62
Ky State Capitol

FRANKFORT, Ky. (WTVQ) – For a third year in a row, Kentucky businesses are breaking filing records, Secretary of State Alison Lundergan Grimes announced Thursday.

More than 163,000 businesses have chosen to utilize the Secretary of State’s online filing system this year to complete their annual report requirement, outpacing the 2017 record by nearly 1,000 filings and more reports being completed daily.

- Advertisement -

Every entity authorized to do business in the Commonwealth is required to file an annual business report with the Secretary of State, per Kentucky law. On Monday, approximately 205,000 entities had filed their reports, representing approximately 88 percent of all businesses.

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, and businesses that fail to meet the deadline receive several reminders. Businesses that fail to file their annual reports and pay the $15 filing fee by October 15 will be administratively dissolved or have its authority to do business in Kentucky revoked.

The report filing requirement applies annually to the more than 200,000 corporations, limited liability companies, partnerships, limited liability partnerships, business trusts and professional service corporations registered in the Commonwealth.