Jan 20, 2020 5:34 PM

Bill would require Missouri LLCs to register every 5 years

Posted Jan 20, 2020 5:34 PM

By BRENT MARTIN

St. Joseph Post

Certain Missouri businesses would have to register with the Secretary of State every five years under a bill sponsored by St. Joseph State Rep. Bill Falkner.

Falkner says current state law allows LLCs, limited liability companies, to register once without requiring anything further unless they change who to contact.

Falkner says requiring LLCs to re-register every five years would ensure the LLC is still active.

“It just is saying that some of these LLCs are sitting out there and there’s no activity and, so, just tell us whether it’s still good or not,” Falkner tells host Barry Birr on the KFEQ Hotline.

There are approximately 60,000 LLCs registered in Missouri.

Falkner says, under current law, the state doesn’t know whether an LLC is active or not.

“What they’re trying to do is figure out which LLCs are still operating, trying to get an accountability on where they’re at,” Falkner says. “So, this bill just requires them that every five years, $10 fee, to just say you’re still in business, this is our contact information, make sure it is all lined up with what’s on the record.”

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Jan 20, 2020 5:34 PM
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