How do I reactivate my old business?

How do I get my business back active?

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.

Can you reactivate an inactive company?

Reinstating an Inactive Corporation

If your state’s laws allow for reinstating inactive corporations, you may be able to file paperwork and pay fees to reactivate the company. Some states’ laws allow for corporate reinstatements but levy fines and penalties in addition to administrative fees.

Can I reactivate an old LLC?

You can apply for reinstatement when your corporation from another province or country was previously registered in Alberta and wants to resume business here.

How do you reinstate a company that has been dissolved?

If your corporation was involuntarily dissolved because of an administrative oversight, your state’s laws may allow you to “cure” the deficiency within a specified time period by filing certain documents with the secretary of state’s office and paying fees to reactivate the company.

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Should I reinstate my business or start a new one?

Generally, it is better to reinstate your current LLC than to start over. One of the purposes of having an LLC is the limited liability. If you start over, you lose the limited liability for the period of time from the dissolution to when you initate the new LLC…

Can I reinstate a business?

If the SOS or FTB suspends your company, you can reinstate it at any time. However, if your company receives an Administrative Dissolution/Cancelation Intent Notice letter from the state, you have to take action within 60 days. Failure to do so can lead to dissolution.

Do inactive corporations have to file a tax return?

A small business that remains incorporated, even if it is inactive, must continue to file state and federal income taxes, even if it did no business during the year and had no income. Many states levy minimum taxes on existing corporations, whether they are active or not.

How do I dissolve an inactive corporation?

How to Close an Inactive Business

  1. Dissolve the Legal Entity (LLC or Corporation) with the State. An LLC or Corporation needs to be officially dissolved. …
  2. Pay Any Outstanding Bills. …
  3. Cancel Any Business Licenses or Permits. …
  4. File Your Final Federal and State Tax Returns.

Why is my company showing inactive?

What is an inactive business status? When a company has an inactive business status, this means that it still exists in the eyes of the law but that it has no activity taking place. It could also mean that it has had no business transactions take place in a particular year.

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Can you reactivate an EIN?

An EIN number can also be reactivated by the “responsible party,” a person designated on the original application as being responsible for the company. Not every business needs an EIN, but the IRS does require one in most cases.

How do I reactivate a dissolved LLC?

If reinstatement is not available in a specific state, the only option for reactivating an LLC that has been dissolved is to form a new limited liability company using the old name of the dissolved LLC. The LLC would be a new entity and in no way tied to the old company.

Can I use an inactive business name?

If the name was registered in your state, it will be listed in the state’s business entity database. … If the company is inactive, you may not be able to use its name. If the company is listed as dissolved, the name may be available for your use.

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