A reinstatement document must be filed with your Secretary of State or equivalent government agency in most states in order to get your business back to being compliant and reestablished. Often times, an LLC or corporation will also need to file specific documents with the Department of Revenue.
How do I reinstate an inactive business?
Contact your Secretary of State’s office or other state agency responsible for registering corporations to determine whether and how you can reinstate a dissolved corporation. A small business attorney licensed in your state can also be a valuable resource and may handle the reinstatement process for your company.
How do I reactivate my business?
incorporate.com can help.
- Identify any outstanding state fees your business owes.
- Obtain the correct reinstatement forms on your behalf.
- Review your completed reinstatement forms.
- Submit your reinstatement forms to the relevant state agencies.
- Notify you once your company is reinstated.
What happens to an inactive business?
If a company does not remain in good standing while it is inactive, the state may dissolve it and impose penalties. … If not dissolved, the company will continue to incur penalties for outstanding taxes. Owners may become personally liable for any outstanding tax liability as a result.
How long does it take to reinstate a business?
How Long Will This Process Take? The processing of documents normally takes eight weeks. You can also check for the current processing time on the website of the SOS. You can opt for expedited processing for an additional payment.
Who can reinstate a company?
Why Are Companies Reinstated To The Register?
- Former directors or members of the company who may wish to reinstate the company’s trading potential.
- Creditors of the company at the time of dissolution who wish to recover the monies owed.
What does it mean to reinstate a business?
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.
How do I find out if a business is still active?
To find out if a company is still active, try contacting the State Secretary where the business is registered. You can also check on the Better Business Bureau website, which has information and reviews on many businesses.
What happens if I don’t dissolve my business?
What if I just stop filing Statements of Information? If you don’t properly dissolve your corporation or LLC, the California Secretary of State will likely forfeit your business. This means that you’ll lose the right to do business in California and be charged a $250 penalty.
Can a company go dormant?
Your company is considered dormant if it’s not trading and it’s not getting any income from other sources, like investments. The term ‘dormant’ means different things for your corporation tax and Company Tax Returns, and your annual accounts and returns for Companies House.
Can you bring back a dissolved company?
You may be able to claim money back or buy assets from the dissolved company by: getting a court order to restore the company – if they owe you money. buying or claiming some of their assets – if you’re affected by the company closing. applying for a discretionary grant – if you were a shareholder.
Can a company be reinstated after being dissolved?
A company that has been struck off by voluntary dissolution can only be restored by court order.
Can you reinstate an EIN?
The IRS cannot cancel your EIN. Once an EIN has been assigned to a business entity, it becomes the permanent Federal taxpayer identification number for that entity. Regardless of whether the EIN is ever used to file Federal tax returns, the EIN is never reused or reassigned to another business entity.