State Licensing Compliance
- Entity Management
- Business Licensing
- Tax Registration
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Registrar Agency of Corporation was develop to help business owners maintain their active legal status. We aim to make the process as simple as can be by helping companies stay compliant to avoid suspension or revocation from the state they are registered in.
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Prepare annual meeting minute filings
Statement of formation or periodic report filings
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What Happens When A Corporation Becomes Inactive
When a corporation becomes inactive, it typically means that the business is no longer operating or has been dissolved. This can happen for a variety of reasons, such as financial difficulties, changes in ownership, or legal issues. In most cases, an inactive corporation will be dissolved by the state in which it was incorporated. This typically involves filing paperwork and paying any outstanding fees or taxes. Once a corporation is dissolved, its assets will be distributed among its shareholders, and it will no longer have the ability to conduct business or enter into legal agreements.
What Happens To A Dissolved Business
Letting a business lapse can have a number of negative consequences, depending on the specific circumstances and the laws of the state in which the business is incorporated. Some possible negative actions that can happen from letting a business lapse include:
- Dissolution: If a business is no longer operating or is not in compliance with state laws, it may be dissolved by the state. This typically involves filing paperwork and paying any outstanding fees or taxes. Once a business is dissolved, its assets will be distributed among its shareholders, and it will no longer have the ability to conduct business or enter into legal agreements.
- Liability: If a business is dissolved and it has outstanding debts or liabilities, the shareholders or owners may be held personally liable for those debts.
- Loss of asset protection: If a business is dissolved, the owners or shareholders may lose the liability protection that the business structure provided.
- Loss of credibility: A dissolved business may lose credibility among customers, suppliers, and partners, which can negatively impact the ability to conduct business in the future.
- Legal issues: A dissolved business may be subject to legal issues such as lawsuits from creditors or from customers who have been harmed by the dissolution of the business.
- Loss of ability to conduct business: Once a business is dissolved, it can no longer conduct business or enter into legal agreements.
- Difficulty in reopening: Reopening a dissolved business can be difficult and may require legal assistance, and may also require the payment of penalties, fines or back taxes.
It's important to be proactive and address any compliance or financial issues before they lead to dissolution to avoid any negative actions. And it's best to seek legal advice from an attorney experienced in corporate law in the state of incorporation.
Can A Dissolved Business Continue To Opperate
It is possible that a bank may close an account if a business is inactive or dissolved. Banks have the discretion to close accounts if they believe that the account holder is no longer in compliance with the bank's policies or if the account is no longer in good standing.
If a business is inactive, the bank may close the account if there have been no transactions for an extended period of time. Banks may also close an account if the business is dissolved and it is no longer in compliance with state laws.
Additionally, if the account is used for business purpose, banks may also close the account if they find out that the business is no longer operating or has been dissolved. This can happen even if the account has a positive balance.
It's important for the account holder to notify the bank of the change in status and to follow the bank's instructions for closing the account and transferring any remaining funds. It's best to check with the bank regarding their policies on inactive and dissolved business accounts.
- Your business was notified that it was or is in the process of expiring and requires renewal
- Upon creating login a payment will be required to maintain your business status
- Upon authorized payment your business profile is tasked in work queue to process as an updated registration
- Сonfirmation of payment will be sent by email, along with 2nd email confirmation of correct document/license status
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Annual report submission.
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