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Further Questions?
- What are the requirements to maintain good corporate standing?
- What if I fail to file required reports or pay requisite state fees?
- What if my corporation falls out of good standing or is involuntarily dissolved?
What are the requirements to maintain good corporate standing?
In most jurisdictions, both domestic and foreign Corporations and LLCs are required to pay annual fees and taxes for the privilege of operating as a state entity. In addition to these annual fees, most states also require that Corporations (and often LLCs) submit information about corporate activities or corporate changes that will become public record. In most states, this information report is referred to as an "Initial/Annual Report" or "Statement of Information."
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What if I fail to file required reports or pay requisite state fees?
When a corporation or LLC fails to file Initial/Annual Reports and/or the Statement of Information or where a corporation fails to pay any requisite fees, the entity either falls out of good standing or is even involuntarily dissolved by the state.
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What if my corporation falls out of good standing or is involuntarily dissolved?
In the event that your corporation or LLC falls out of good standing or is involuntarily dissolved, most states will require that the entity file a reinstatement to restore to active status and good standing. To ensure that your Corporation or LLC is in full compliance with its corporate formalities and is restored to active status and good standing, MyCorporation.com will prepare your Reinstatement documents for your review and submission to the appropriate state agency for any of the 50 states.
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