Certificate of Good Standing
Certificate of Good Standing
Once a corporation has been established as a fully legal entity, it is not necessarily prepared to do business within a state other than the one it was formed in. Other steps must be followed in order for an organization to begin business processes in other locations. Perhaps most importantly a certificate of good standing must be obtained from the state in which the company will be doing business. Also called a certificate of existence or a certificate of authorization, this is paperwork that demonstrates that a corporate entity has met all the requirements to operate. The certificates are issued according to the standards of the state the entity was originally formed in and each state may have slightly different requirements. In general you can expect these three items on the list of requirements to that must be met before a certificate is awarded:
- Annual reports have been filed
- All applicable franchise taxes have been paid
- All applicable state fees have been paid
The Importance of a Certificate of Good Standing
Vendors and banks may require information from a corporation’s certificate before a loan or other business transaction can take place; this is done to check that every corporation is in full legal compliance. In addition to having a certificate in order to do business, many companies choose to keep a copy for their own records. Having this information close at hand can help if any instances arise when the certificate’s data is required. Failing to obtain the paperwork required for corporate business operation, including relevant certificates, may carry legal fines and penalties; business leaders are encouraged to secure a certificate demonstrating a company’s good standing as soon as possible to prevent these and other negative consequences.
Customized Support Tailored For You
DoMyLLC has helped corporate entities begin operation by providing helpful support in obtaining certificates from all fifty states. Our team of business experts has considerable experience with the filing standards of each state and knows the correct offices and departments that must be contacted. Personal care for every client is part of our 100% satisfaction guarantee. You can feel confident in the services we provide and trust that our experience will help you succeed. If you ever have any questions or concerns, reach out to a representative on live support at any time. Finally, we offer highly competitive pricing and even a price match guarantee to better help our customers obtain necessary commercial services.
Hassle Free Process
Earning the necessary certificate to demonstrate your corporation’s good standing can take a long time when filed on your own. Because every state’s standards are slightly different, meeting the requirements of the state the corporation was formed in might be a significant challenge. DoMyLLC offers a convenient two-step process that simplifies obtaining necessary paperwork, including these essential certificates. All you need to do is place your order, then verify that the submitted forms are correct and signed. Our experienced team handles everything else. Once the certificate has been obtained, we send paperwork to you via email and FedEx.