Maintaining business compliance, or “good standing” is critical to running a successful company. Most businesses are required to hold regular meetings, keep meeting minutes, file annual (or regular) reports, and pay federal and/or state taxes. Late or missed filings not only cost more to update, but your company can be administratively dissolved in the state where you operate. You can avoid penalties, late fees and possible dissolution by following the guidelines that were included with your order in the New Corporation or New LLC Handbooks.
Maintaining business compliance is also how you and your company are separated. The best way to operate your new LLC or Corporation is “at arms length”. Or in other words, all of your business and personal assets should be managed in separate accounts to keep the business separate and distinct from yourself. Doing so protects your personal assets in the event of bankruptcy or a lawsuit.
Our exclusive ComplianceLock service automates and tracks most compliance tasks for you. And if your business falls out of good standing, we’ll send an alert to your account and offer help and resources to regain business compliance. Enjoy peace of mind with ComplianceLock, free with our MyCompanyWorks Premium™ Service.