Business Status Forfeited In Houston
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Forfeiture is the loss of any property without compensation as a result of defaulting on contractual obligations, or as a penalty for illegal conduct.
Loss of Ownership: When shares are forfeited, the shareholder loses ownership rights and any associated benefits, such as voting rights and dividend payments.
Forfeit verb (LOSE) to lose the right to do or have something because you have broken a rule: If you cancel now, you forfeit your deposit. These people have forfeited the right to live in society. Synonym. forgo.
Forfeit means to lose or give up something, usually as a penalty. If you don't finish your homework and eat all your broccoli, you'll most likely forfeit your right to watch TV before going to bed.
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.
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), ...
Texas statutes do not specifically define "transacting business;" however, section 9.251 of the BOC lists 16 activities that do not constitute "transacting business." Generally, a foreign entity is transacting business in Texas if it has an office or an employee in Texas or is otherwise pursuing one of its purposes in ...
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), ...
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.
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), ...
