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Jurisdictional Updates 11-7-2022

Pennsylvania – Effective January 2024 Entities Required to File Annual Reports

House Bill 2057 (Act 122) signed by the governor November 3 and effective January 2, 2023 contains significant amendments to business entity statutes. Effective in January 2024 entities will be required to file an annual report (corporations by July 1, LLCs by October 1, and other entity types by December 31), and the Department of State may revoke entities for failure to file annual reports and file reinstatements. The bill also contains provisions for ratification of defective entity actions.