TOP RATED ATTORNEYS
hello@manasterlaw.com
214.919.9424

Business Reinstatement

WHAT IS BUSINESS REINSTATEMENT

Business reinstatement is the process a company undergoes if its owner wish it to continue its existence following losing good standing. A company risks its good standing if it fails to meet annual filing obligations, pay franchise taxes, or pay state fees. States can take action against by dissolving a business or revoking its status. What’s more, when a company loses its status, its shareholders or members also lose the legal protections afforded by that status, exposing shareholders or LLC members to personal liability.