How Do I Obtain a Certificate of Good Standing to Maintain My LLC?
If you have a Limited Liability Corporation, or LLC, it is vital that you maintain your Certificate of Good Standing. A Certificate of Good Standing is a way to demonstrate that your LLC legally exists and that you are in compliance with any regulations governing LLCs. These regulations can vary by state. A Certificate of Good Standing demonstrates that your business is legally registered and authorized in your state.
Sometimes called a Certificate of Authorization, a Certificate of Existence, or a Certificate of Status, your Certificate of Good Standing is a document provided by your secretary of state. It is an official document that provides proof of the status of your business entity.
To obtain and maintain your Certificate of Good Standing, your business must meet several important requirements:
- You must be up to date on any biennial or annual fees to the secretary of state, fees to register your LLC.
- You must file any annual reports required by your state.
- You must pay any other business fees or franchise taxes to state regulators, as required by your state.
There are several situations in which you may need a Certificate of Good Standing. It may be required by:
- Lenders or banks as proof that your LLC actually exists when you are applying for financing.
- Investors who want to make sure that your business is legitimate and in compliance with any state regulations.
- Other state governments as part of the process of filing to do business in other states.
- Regulators and licensing agencies when you may need permits or licenses.
- Business buyers or brokers, in the event that you are seeking to sell your business and need proof of its existence.
In short, your Certificate of Good Standing demonstrates that your LLC exists and that you are in compliance with any relevant regulations.
Depending on your state, there are a variety of ways to apply for a Certificate of Good Standing for your LLC. You can contact GovDocFiling here to make the process easier.