Regaining your standing with the state
Reinstatement is the process of returning an inactive or non-compliant company to good standing within a state. C corporations, S corporations and limited liability companies (LLCs) face ongoing state formalities, such as annual reports or statements and their associated filing fees, franchise and/or other state taxes. If a company fails to undertake these steps, it risks falling out of “good standing” in a state.
Why it’s important
Companies that are in bad standing long enough risk administrative dissolution or revocation by the state. This should be avoided because when a state administratively dissolves a corporation or LLC or revokes its corporate or LLC status, the benefits of the entity type, such as the limited liability protection provided to owners, are lost.
Features & benefits
Reinstatement requires a company to resolve outstanding business compliance issues and submit necessary forms and fees to the state. BizFilings helps you through the reinstatement process by:
- Identifying all steps your business must take to become compliant
- Determining outstanding or overdue fees due to the state
- Obtaining the forms you must complete as part of reinstatement
- Auditing your reinstatement forms for common errors prior to submission
- Submitting your completed reinstatement forms to the appropriate state agencies
- Notifying you when reinstatement of your company is complete