If your company is in bad standing with your state, you may need to go through the reinstatement process. Businesses must follow certain regulations to remain legitimate within their state of incorporation. Failing to comply with these rules makes it necessary to reinstate a corporation or LLC. If a reinstatement is not filed, your business could be involuntarily dissolved. Your company may be in bad standing due to the following:
- Unpaid renewal fees
- Failure to submit annual reports
- No registered agent is on file
- Failure to renew state business license
- Failing to pay franchise taxes
- Failing to file state taxes
The Importance of Reinstatements
Businesses that fail to meet the above obligations for long enough face the risk of revocation or administrative dissolution by the state. When your corporate or LLC status is revoked or your company is dissolved, the benefits of your entity are lost. For example, if you have an LLC, the protections of limited liability would be lost. That is why it is crucial to reinstate an LLC or corporation that is in bad standing.
Some business owners assume that they do not need to reinstate if they simply cease operations. This can result in continued accrual of penalties and fees. Some states even require businesses to dissolve in these circumstances.
You don't have to stress out about reinstating your business when you get professional help from DoMyLLC. The benefits include:
- Personalized care for your unique situation and business needs
- Live support for quick answers and solutions whenever you need them
- 100% satisfaction guarantee
- Price match guarantee
Customized Support Tailored For You
The only two things you need to take care of are placing your order and authorizing your forms.
Otherwise, we handle everything. Here's what we do:
- Audit your forms, check for quality, and correct errors
- Contact state agencies to determine necessary filing fees
- Submit your forms to appropriate state agencies
- Get your company back in good standing
- Email a digital copy of your forms to you
- Ship a physical copy of your forms via FedEx
Hassle Free Process
Reinstating your business lets you regain the advantages of limited liability protection and corporate status. Going through this process gives you peace of mind to continue your operations and enter new contracts. You deserve to pursue your business ventures without worrying about your legal status.