Each jurisdiction has its own annual requirements and it is imperative you meet each obligation to stay in good standing. Failure to fulfill the state(s) annual requirements can carry some steep consequences:
What can you do to ensure you stay in compliance? One step is to make sure you fully understand the state requirements and tie them into your accounting and corporate maintenance procedures. Another way is to engage the services of a professional service company who specializes in keeping companies active. Many of these service companies offer compliance services, such as Compliance Verification Service (automated alerts) or Compliance Filing Service (automated filing) for a nominal fee. By utilizing a service company for these services, you can rest assured your company is going to maintain an active status.
About the Author: Kyle Buzzard is Director of Client Development at Incorporating Services, Ltd.(IncServ). IncServ is a full-service registered agent and corporate services company providing administrative, legal support and related services to the entrepreneurial community. A former business owner and consultant with a passion for entrepreneurs and small businesses, he is an advocate for smart outsourcing and insourcing that allows business owners the freedom to grow their companies. If you need help with compliance, or simply have questions about growing your business, Kyle can be reached at pr@incserv.com or 302-531-0702.
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