Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
Business Status Forfeited In Bexar
State:
Multi-State
County:
Bexar
Control #:
US-0046-CR
Format:
Word;
Rich Text
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FAQ
An entity forfeited under the Tax Code can reinstate at any time (so long as the entity would otherwise continue to exist) by (1) filing the required franchise tax report, (2) paying all franchise taxes, penalties, and interest, and (3) filing an application for reinstatement (Form 801 Word 178kb, PDF 87kb), ...
The Comptroller is required by law to forfeit a company's right to transact business in Texas if the company has not met franchise tax filing requirements under Chapter 171.
If the right to transact business is forfeited, the entity will be denied the right to sue or defend itself in a Texas court and each director or officer will be liable for the debt of the entity.
If you're a business owner in Texas, you might have received a letter called a “Notice of Intent to Forfeit Right to Transact Business.” It may sound scary, but don't panic. This notice simply indicates that you might have forgotten about some important paperwork or payments for your business.
An entity forfeited under the Tax Code can reinstate at any time (so long as the entity would otherwise continue to exist) by (1) filing the required franchise tax report, (2) paying all franchise taxes, penalties, and interest, and (3) filing an application for reinstatement (Form 801 Word 178kb, PDF 87kb), ...
Within 120 days of the date of notice of forfeiture of privileges. § 171.252(1) states that a taxable entity that has forfeited its right to transact business is denied the right to sue or defend in a court in this state. Pursuant § 171.252(2) each officer and director is liable for the debts of the corporation.