House committee substitute to the 1st edition makes the following changes. Amends GS 57D-2-26 (exemptions for LLC’s owned by deployed members of the Armed Forces) so that the deployment period is one that on or after the ninetieth day preceding the due date of the annual report (was, one that ends on or after January 15 of the year in which the annual report is due). Makes clarifying change and now requires a foreign LLC to disclose the name of the jurisdiction under whose law the foreign LLC is organized as part of the information required in the notice of disclosure. Amends the notice of disclosure requirements for limited liability partnerships (LLP) under GS 59-84.6 so that it must disclose the name of the state or county (was, just state) under whose law it formed (was, incorporated).
WAIVE ANNUAL REPORT/FEE FOR DEPLOYED MILITARY.
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| View NCGA Bill Details(link is external) | 2025-2026 Session |
AN ACT TO WAIVE THE ANNUAL REPORT REQUIREMENT AND FEE FOR BUSINESS ENTITIES OWNED BY DEPLOYED MEMBERS OF THE ARMED FORCES.Intro. by Carver, Campbell.
Bill History:
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Thu, 27 Feb 2025 House: Filed(link is external)
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Mon, 3 Mar 2025 House: Passed 1st Reading(link is external)
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Tue, 25 Mar 2025 House: Reptd Fav Com Substitute(link is external)
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Tue, 25 Mar 2025 House: Re-ref Com On Finance(link is external)
Bill Summaries:
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Bill H 250 (2025-2026)Summary date: Mar 25 2025 - View Summary
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Bill H 250 (2025-2026)Summary date: Feb 27 2025 - View Summary
Creates exemptions to the statutory due dates for the annual reports that must be filed by corporations (new GS 55-16-22.3), LLCs (new GS 57D-2-26), and limited liability partnerships (new GS 59-84.6) under State law for those entities owned by deployed members of the Armed Forces, as follows. For corporations and limited liability partnerships, specifies that a deployed member of the Armed Forces is a member of the United States Air Force, Army, Coast Guard, Marine Corps, or Navy, or a member of any reserve component, who is removed from his or her county of residence pursuant to an official order for a deployment period that ends on or after the ninetieth day preceding the due date of the annual report. For LLCs the deployment period is one that ends on or after January 15 of the year in which the annual report is due. Deems an annual report timely filed for corporations and limited liability partnerships if it is filed by the requisite entity in which more than 50% of the ownership interest is owned by one or more deployed members of the Armed Forces and within 90 business days of the end of the deployment period. Imposes the same ownership requirements on LLCs owned by deployed members of the Armed Forces, but deems the date of timely filing April 15 of the year immediately following the end of the deployment period. Requires the corporation/LLC/limited liability partnership (collectively, the businesses) to file notice of deployment with the Secretary of State prior to the start of the deployment. Provides for extensions if the deployment is extended. Only allows for dissolution if the period of delinquency for the applicable ground is 180 days or more past the end of the deployment period indicated in the documentation provided to the Secretary of State. Waives document fees and the filing fee for the report due after the end of its deployment for the businesses. Makes conforming changes to GS 55-16-22 (annual report--corporations); GS 57D-2-24 (annual reports--LLC’s); and GS 59-84.4 (annual reports--limited liability partnerships). Effective October 1, 2025.
Effective when the act becomes law, requires the Secretary of State to make the notice of deployment forms available by October 1, 2025.