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How to restore fee in the Plan of Dissolution

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how to terminate your corporation how to stop its existence cancel or in legal terms dissolve the corporation hi and welcome back again me eugene from cbes canadian business and enterprise services and today i would like to explain you how legally to approach the process what it means which considerations to consider how to proceed with the process of dissolution and what are the alternatives for the dissolution which i think are better more valuable than the solution itself so before we proceed with the actual dissolution lets remember the nature of the corporation and remember as i always say corporation is a legal entity we can create it but it cannot down itself it doesnt have physical existence there are multiple corporations that uh outlive and well outlive their creators one of the most famous is the hudsons big company of uh canada that was created back in 1670 its the longest living corporation in the english-speaking world another famous corporation is a ford motors compa

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What does it mean when a business is reinstated?

Reinstatement brings a business back to where it was before it fell out of compliance. Once a company has been dissolved, whether that was on a voluntary or involuntary basis, the business is considered no longer active. However, filing for a reinstatement helps restore the company back to active status with the state.

How do I restart a dissolved LLC?

How to Reinstate a Corporation or LLC Perform a Business Name Search. The first step to reinstatement is knowing what fines and annual reports need to be filed. Pay Fees, Fines and File Annual Reports. File Revival Paperwork. Pay Reinstatement Fees.

How do I reinstate my NYS corporation?

A voluntarily dissolved New York corporation may be restored to active status by a court order filed with the Department of State. You may petition the court at any time. There is no time limit after which you would be ineligible for a court order of reinstatement.

What does it mean to be reinstated?

to put someone back in a job or position previously held, or to put a law or rule back into effect: She will be reinstated to her full professorship and receive back pay and benefits.

Can I reinstate my company?

The company can be restored if it was struck off in the last 6 years or if it was trading when it was dissolved. The restoration procedure, either administrative or court, will depend on who struck off the company.

What is the meaning of dissolution fee?

Estimated Dissolution Costs means a reasonable and good faith estimate of the liabilities, costs and expenses caused by or required for the dissolution and winding-up of the Company and the Company Subsidiaries (including the expenses of liquidation and reserves reasonably necessary for fully discharging any contingent

Is it better to reinstate an LLC or start a new one?

An LLC can be dissolved voluntarily, administratively, or judicially. Your potential reinstatement depends on the state in which you operate and the way your LLC was shut down. If you can have your LLC reinstated, its usually easier and cheaper than forming a new one.

What happens if you dont file biennial statement in NY?

NY Biennial Statement FAQs Do you have to file a Biennial Statement? Yes. Its required to keep your business in good standing. If you dont, your businesss status will be changed to past due. Its not a good look.

How do I reinstate a dissolved LLC in NY?

You cant revive a New York LLC because New York does not administratively dissolve LLCs. If you dissolve your LLC yourself, youll need to start over and form a new LLC.

What does it mean to reinstate a company?

Reinstatement is the process of restoring the registration or legal rights of a business that has been suspended, cancelled, or dissolved. It may involve providing proof that past requirements have been made for the business, or providing proof that any outstanding fees or taxes have been paid.

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