LLC Compliance and Status
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Noncompliance consequences include loss of court access and inability to sue. LLCs should stay compliant by filing reports and paying fees so they remain in good standing.
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Good standing means an organization is current on statutory dues and not facing disciplinary action. A university letter indicates credential program completion expectations and authorizations. To get an IRS letter, file Form 4506.
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Most states provide online databases to check status and download Certificates of Good Standing. This confirms an LLC has paid all taxes and fees and is authorized to do business. It’s often needed for loans, financing, etc.
LLC Dissolution and Reactivation
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Voluntary dissolution is when a corporation or LLC dissolves without a mandate. An administratively dissolved LLC may have to cease business activities and lose liability protections. A dissolved corporation’s owners can be liable for incurred rent.
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You can reactivate an EIN. To maintain LLC status, have a separate bank account, document personal expenditures, and don’t mix funds. If suspended in California, an LLC loses rights and privileges. To revive it, reinstatement is required.
Inactive Status and Certificate of Good Standing
- An LLC name on inactive status is available for use. The letter indicates when a credential candidate will finish and what authorizations are allowed. To get a certificate of good standing in Arkansas, apply online or in person.