I am based in Illinois. I presume that most secretary of state offices require an annual fee to maintain a corporation or LLC. I prepared an annual report and change of address form for a client operating an S corporation (forms bca 140.5d and bca 5.10/5.20 respectively) and charged $65.00. Included with the services was a call to the Illinois Secretary of State Office (4 calls in all just to connect, and time on hold for a total of 20 minutes on the phone). I could have easily charged at least $125.00 or more for my services. The client was within a few weeks of having his S corporation involuntarily revoked for failure to file the annual report. I explained this to the client. Nevertheless, the client became enraged at my charge and actually shorted me $5.00, and told me to sue him if I want the balance. Seriously?! I am just wondering what others charge for this type of service. I feel that my fee was absolutely reasonable.
Your fee was ridiculously low. Corporation or partnership forms should be charged at minimum rates. I would have charged at least $200. I would drop that jerk.
I charge $100 to monitor and file CA Statements of Information which includes the $25 filing fee. It only takes a couple minutes to file but it's work keeping track of the due dates. I believe you way undercharged considering the change of address forms and phone calls. If the client thinks that's unreasonable, it's definitely not worth having them around.
Thanks all for the response! Yes, the fee I have been charging for this service has been insanely low. I figured 5 - 10 mins of work; but it is the importance of the task and otherwise consequences. That's what I should focus on.
HGCO wrote: Nevertheless, the client became enraged at my charge and actually shorted me $5.00, and told me to sue him if I want the balance.
Not a very bright individual. I don't know what he expected to happen but any self-respecting firm would immediately terminate the relationship after that happens.
Now he has to find a new firm and transition. All over $5.