Business Compliance: The importance of staying in Good Standing

Good Standing Compliance

Protect Your Good Standing Status

When business owners choose to form a corporation, LLC, or LP, they must file the proper formation papers with their home state and any other states in which they register to do business. The states then essentially grant the right to conduct business as a statutory business entity with all the advantages this brings. To maintain this right, the business becomes subject to a host of business laws and requirements. These include appointing a registered agent, making timely filings of required forms, and paying fees and/or franchise taxes.

Stay Compliant

Certificate of good standing and certificate of existence

Often required for expansion, financing, and to conduct business transactions, a Certificate of Good Standing is a state-issued document that proves your entity is in compliance with all requirements.

Annual Report Solutions

Our Annual Report Solutions keep your business compliant with your state's annual report requirements.

Appoint your Registered Agent

Having a registered agent is required by all 50 states. Rely on CT to handle important legal and state documents promptly and correctly.

Good Standing Audit

Request your free good standing audit and we’ll show you where you’re registered and your status with the Secretary of State. If our research uncovers any issues, we can help you resolve them.

Getting Back in Good Standing

Reinstatement

To be reinstated and restore its good standing with the state, a business must file all past-due annual reports, pay all taxes, interest, and penalties. We can help you reinstate it and get things back on track.

Reinstatement

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Business Dissolution & Withdrawal

Officially dissolve your company or withdraw from a state where you had foreign qualified.

Dissolution & Withdrawal

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The Consequences of Losing Good Standing Status

The primary reason a corporation loses its good standing status is that it lets annual reports or franchise tax obligations lapse. However, there are many ways this can happen, and many reasons these issues can remain undetected until the worst possible time – for example, at the closing table for an expansion or financing deal.

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