Senate Bill 362 - Annual Report Standardization

• Requires business corporations, LLCs, limited liability partnerships, and limited partnerships to file annual reports electronically with the Secretary of State, with phased implementation based on gross revenues ($175,000 threshold) between 2020-2021.

• Standardizes annual report requirements across entity types to include registered agent e-mail address, principal officers' contact information (name, mailing address, e-mail, phone), and authorization contact for persons with binding authority.

• Reduces annual report filing fees for most entities: business corporations from $25 to $18 (electronic), LLCs from $200 to $125, limited partnerships from $200 to $125, while nonprofit corporations are assessed no fee.

• Adds new annual report requirements for nonprofit corporations (due by November 15 annually) and creates nonprofit tax refund reporting provisions requiring Secretary of State to receive entity information from Department of Revenue.

• Increases reinstatement fee from $25 to $50 for entities suspended for tax non-compliance and increases Secretary of State's penalty enforcement authority by granting law enforcement agents statewide jurisdiction to investigate false document filings.