How Do I Find a Company's Registered Agent? When Should I Turn a Sole Proprietorship Into an LLC? If a corporation in California becomes suspended, it loses all its privileges and rights, becoming unable to operate legally. The number of steps required to reinstate an entity depends on what caused the delinquency. Knowing how to reinstate a dissolved corporation in California allows a delinquent business to return to a good standing. Wondering how to reinstate involuntarily dissolved LLC Illinois? As an essential business, we’re open, fully operational, and all services are active and available! Reinstate Illinois Corporation, Revive Illinois Corporation, Illinois Corporation Reinstatement Revised June 13, 2017. If your corporation was involuntarily dissolved because of an administrative oversight, your state's laws may allow you to “cure" the deficiency within a specified time period by filing certain documents with the secretary of state's office and paying fees to reactivate the company. We are curious if you have a time limit and if so what it is. How Do I Change My Corporation's Par Value? Although each state has its own preferred form, the Articles almost always require you to supply the business name, purpose of the company, and how may shares of stock the corporation is authorized to issue. Under Illinois §12.80 of the Business Corporation Act of 1983, a five-year window is open for suing a corporation on any … When an LLC becomes delinquent, reinstatement is the process that restores it to good standing. 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How to Move Your Business to Another State, How to Move Your Business and Change Your Entity Type, Get a Canadian Certificate of Good Standing. To pursue a formal reinstatement, you would need to fill out and file LLC-35.40, Reinstatement following Administrative Dissolutionform and deliver it by mail or in person to the Illinois Secretary of State. Wondering how to reinstate involuntarily dissolved LLC Illinois? Reinstate Or Revive An Illinois Corporation: To reinstate your corporation in Illinois, you submit in duplicate the completed BCA 12.45/13.6, Application for Reinstatement Domestic/Foreign Corporations form with the filing fee by mail or in person to the Illinois Secretary of State. Here is a quick overview of the main steps to dissolve and wind up your nonprofit corporation under Illinois law. If your business has been administratively dissolved for more than 5 years, it cannot be reinstated. If you voluntarily dissolved your Illinois Corporation, you will have to file new Articles of Incorporation, unless the corporation decides to revoke the dissolution within 60 days of the date of the filing of the articles of dissolution. This ensures you get 24-hour processing as long as all of your past-due reports and fees are properly attached to the form. You may reinstate a business at any time or start a new company. You will need to call the Illinois Secretary of State for assistance in calculating your penalty. No. A change of corporate. Do I Need to Register My Business or Hire an RA first? The penalty varies with different corporations depending on the franchise taxes owed. Companies that fail to meet their annual filing obligations risk losing their good standing. A $150 filing fee must be paid along with the Articles of Organization. But, if the corporation shall set forth the new name by which will... Would cost to form My LLC or corporation Illinois law one week 10. 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