If you have failed to file your corporation’s annual report with the Secretary of State or have not paid any associated fees, franchise or other state taxes, your corporation has likely fallen out of “good standing.” You can confirm this by pulling up your corporation on the Secretary of State site in which the corporation is registered.
If your corporation has fallen out of “good standing” long enough, you risk the state administratively dissolving the company and revoking its corporate status. If this happens, you lose the benefits your corporation provides, such as limited liability protection.
If your corporation has fallen out of “good standing,” it may be possible to file to have it reinstated. This process allows the corporation to return from inactive or non-compliant status to “good standing.”
In order to reinstate your company, you must resolve any outstanding business compliance issues and file the requisite forms with the Secretary of State and pay any associated or outstanding fees.
Reinstating your business allows you to regain the benefits associated with corporate status. Additionally, you will be able to enter into new contracts and continue running your business operations without concern about the corporation’s uncertain legal status.
We can assist you with reinstating your company if your company is eligible for reinstatement.