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Secretary of State - Corporation Database - "Inactive"?
Posted on 10/12/18 at 6:54 am
Posted on 10/12/18 at 6:54 am
I'm looking to do business with a company and noticed they have a Status of "Inactive" Reason: "Action by Sec of State"
I read online is that this means the company has not filed the proper paperwork to the SOS office but what does this actually mean, and should it affect me from buying a product from this company that will need service for years to come?
Louisiana SOS
I read online is that this means the company has not filed the proper paperwork to the SOS office but what does this actually mean, and should it affect me from buying a product from this company that will need service for years to come?
Louisiana SOS
This post was edited on 10/12/18 at 6:55 am
5
Posted on 10/12/18 at 6:56 am to KLSU
No. It just means they haven’t paid their annual fee
Posted on 10/12/18 at 6:59 am to tgrbaitn08
Ok so it really isn't a big deal. Thanks.
Posted on 10/12/18 at 6:59 am to tgrbaitn08
Has no affect on their legal standing. If they pay the fee it’ll be updated to active
Posted on 10/12/18 at 8:09 am to KLSU
I think they are supposed to file an annual report and pay a small fee to be in good standing. Lots of smaller businesses ignore or forget the requirement.
It makes them look small-time and like someone who does not take care of their shite, but it doesn't really have substantive effect on their ability to do business.
You might let them know, so they can yell at a secretary and get it done.
It makes them look small-time and like someone who does not take care of their shite, but it doesn't really have substantive effect on their ability to do business.
You might let them know, so they can yell at a secretary and get it done.
Posted on 10/12/18 at 8:14 am to tgrbaitn08
quote:
No. It just means they haven’t paid their annual fee
This, but should pull a D&B on them and see if they have an active website etc as well...
Posted on 10/12/18 at 8:28 am to CoachDon
Haha. No. D&B is a huge scam
Posted on 10/12/18 at 8:57 am to KLSU
Inactive has two states- voluntary and by sec of state.
Voluntary means they just forgot it for a short while.
By secretary of state means they have not filed in a long time, like five years or so. It shows a lack of basic give a shite.
And I don’t know the specifics, but being in active can have serious legal consequences for a business and its owners under certain circumstances. I think it have to do with piercing the corporate veil if a business is sued and the claimant is trying to get through the company to owners assets.
So, while probably not a big deal for just buying their products, could be a big deal for them if they ever got into a jam.
Voluntary means they just forgot it for a short while.
By secretary of state means they have not filed in a long time, like five years or so. It shows a lack of basic give a shite.
And I don’t know the specifics, but being in active can have serious legal consequences for a business and its owners under certain circumstances. I think it have to do with piercing the corporate veil if a business is sued and the claimant is trying to get through the company to owners assets.
So, while probably not a big deal for just buying their products, could be a big deal for them if they ever got into a jam.
This post was edited on 10/12/18 at 8:58 am
Posted on 10/12/18 at 8:59 am to KLSU
The others are right, it's just not paying the fee.
The federal government has a similar system called SAM, vendors get on the inactive list all the time for that reason.
The federal government has a similar system called SAM, vendors get on the inactive list all the time for that reason.
Posted on 10/12/18 at 11:40 am to KLSU
These entities are usually set up to limit the owners personal liability. If you don’t pay your annual fee and it’s inactive then you lose that.
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