Failing to Pay Corporate Franchise Tax

Failing to pay the government tax of your business or foundation, for a period of 3 consecutive years, can lead to the possible suspension of your business.

In this situation, you will not be able to do any type of transaction or deal.

Make sure to pay your flat rate every year, up to date to avoid late fees and penalties, and of course a possible suspension.

In case you fall into the suspension scenario, you will have 2 years to reactivate it again, otherwise, the state can dissolve your license.

This would jeopardize your business or any property you have under your business name.

At CLD Legal we can help you with this or other legal issues. Contact us. We’re here to serve you.

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