Business Status Forfeited In Orange
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FAQ
“Forfeited” means the right of the entity to conduct business in the State of Maryland has been relinquished and it has no right to use its name. For domestic corporations, this also means that the business has no existence under the laws of the State of Maryland.
In order to maintain Good Standing status, it is important that you file required annual reports and maintain compliance with any applicable Maryland laws. Failing to do so means your entity may be “Not in Good Standing,” which eventually leads to forfeiture.
So, you've got a forfeited LLC. Under Maryland law, your entity does not legally exist. That is, until you get sued. Many LLC members do not realize that they can be forced to defend a lawsuit against the LLC even after forfeiture.
Forfeiture is the process that allows the Department to remove inactive entities that have not legally terminated their authority to do business in Maryland or to notify active entities of an existing oversight in meeting legal filing requirements.
Your business must be in good standing with the Secretary of State (SOS) to revive your business entity. To revive your business, you must file one of the following forms: Application for Certificate of Revivor – Corporation (FTB 3557 BC) Application for Certificate of Revivor – Limited Liability Company (FTB 3557 LLC)
If your entity has been suspended/forfeited by both the Secretary of State and the Franchise Tax Board, the entity can be revived by: Filing a current Statement of Information and obtaining a Secretary of State Proposed Relief Letter from suspension or forfeiture.
Reinstatement in California In California you can reinstate your company any time after suspension or forfeiture. Dissolved California entities cannot be reinstated, so in case like that you would need to file as a new entity.
1 The pertinent statute says: “Suspension of a corporation provides an opposing party with an affirmative defense that, when timely raised, prevents the corporation from prosecuting or defending an action in a California court.”2 There are multiple consequences to the suspension of corporate powers,3 but this ...
NO, unfortunately you cannot apply to have your business entity revived/reinstated. However, you may submit a new limited liability company, stock or nonprofit corporation registration to start a new business entity. Visit bizfile.sos.ca for more information on how to start a business.
