Businesses that have been voided, revoked or placed on the inactive list may reinstate to become active again. The following guidelines will assist you with this process.
· Not in good standing: The entity has not filed the current year’s Annual Report/Personal Property Return or it owes a late filing penalty.
- May be forfeited: means the “legal existence” of the entity has been relinquished and it is usually for failing to make required Annual Report/Personal Property Return filings for prior years.
- May be did not file franchise taxes
- May be did not file initial reports
- May be did not file biennia statement
· If you believe the business has complied with the State’s annual report requirements and should not have been revoked or placed on the inactive, you should called to the government agency to update their records.
· The fees for reinstatement vary by the type of business involved and the number of outstanding annual reports. The online service will calculate the applicable fees and you may be requested additional fees if requested by the state.
· If your business was voided/revoked for a period of time, the business name may now be reserved or taken by another entity. Therefore, as part of the reinstatement process, you will be required to check the availability of the business name. Your options for checking name availability will be displayed during the online reinstatement session. If you find the name is being used by another entity, you will need to select a new name for your business, file a name change amendment with your reinstatement request, and pay a separate amendment filing fee.
· Consider the time required for reinstating for-profit corporations. Remember that the issuance of the Tax Clearance Certificate can be a lengthy process and that the certificate is required before the reinstatement of a for-profit corporation can take effect. Any questions regarding the issuance of a Tax Clearance Certificate or the resolution of tax issues should be directed to the Division of Taxation.
