(971) 645-4292

support@acoorg.com

Business Solutions to Move Your Business Ahead

Our inhouse team has decades of experience and works closely with our outsourced support team handling Business formations, annual reports, Dissolutions, DBA’s, and BOI reports. We are committed to making sure your business remains in good standing and compliant.

Business Solutions Services We Offer

Beneficial Ownership Information Reporting

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Business Formation Service

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Why is business compliance important?

External Requirements:

  • The contractor state license boards decides these, as well as federal, state, and local laws.
  • You can be subject to fees and penalties that are chosen by the state rules, industry standards, and federal laws.

Internal Requirements:

  • These provide transparency into how your business operates with integrity.
  • They are also dictated by financial and other rules that come with filing a Corporation or LLC
  • Penalties (such as reprimands, probation, or dismissal) are determined by company executives, board members, and managers.

Responsibilities—and what happens if you ignore them

Once you’ve set up a Corporation or LLC, you may have to meet initial and ongoing requirements. This varies from state to state. Failure to do so can have consequences, including:

  • Late fees and fines due if you fail to renew permits and licenses.
  • Owners are responsible for company debts.
  • Loss of good standing

If a corporation or LLC can’t prove it met all requirements, whether it is being sued or for sale, the court may rule that the business was operating like a sole proprietorship or general partnership. This “pierces the corporate veil,” meaning that the limited liability protection is removed, and the owner’s personal assets are available to pay off to company debts.

Why is Compliance so important?

If a corporation or LLC does not comply with annual (or other) state filings and requirements, the state will no longer hold the company “in good standing” The state can impose late fees, interest payments, franchise tax fees, and other penalties. Also, losing your good standing status can have further consequences, including:

  • Being unable to obtain a Certificate of Good Standing from the state. A Certificate is needed to get permission to do business in another state, execute contracts, open accounts, apply for licenses, secure financing, or sell your business.
  • If a company remains out of “good standing” long enough, the result may be “administrative dissolution” which means the legal entity of the corporation or LLC is dissolved, exposing the individual owner(s) to company liabilities.

Our team is ready to help you: 

LLC

C Corporation

S Corporation

EIN Numbers 

Doing Business As (DBA’s)

Annual Meeting Minutes

Articles of Amendment

Certificates of Good Standing

Operating Agreement & Meeting Minutes 

S-Corp Election for LLC’s & Corporations 

Managed Annual Reports

Secretary of State Registered Agent

Secretary of State Reinstatement

Foreign Qualification

(971) 645-4292

support@acoorg.com

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