Florida Community Association Manager Practice Exam

According to the text provided, what fee must a corporation pay annually to the Florida Secretary of State?

1. $31.25

2. $61.25

3. $150

4. $250

The correct answer is: $61.25

The annual fee that a corporation must pay to the Florida Secretary of State is important for maintaining good standing and compliance with state regulations. The correct fee amount is $61.25, which is established for corporations seeking to file their annual reports and ensure their business remains in good standing with the state. This fee is part of the administrative requirements for corporations in Florida and is a necessary obligation for maintaining corporate status each year. Failing to pay the required fee can result in penalties, including late fees or the potential revocation of the corporation's status, which underscores the importance of meeting annual obligations. Thus, by paying the annual fee of $61.25, corporations help ensure they can legally operate in Florida.