how long does a corporation last?

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TroubleTimes

Registered Member

Feb 15, 2012

66

1

• Jun 21, 2012

• #1

Sorry take me as business dummy. i am going for file for Small business corporation. it costing me fortune ( $281 filing fee) i was wondering how long will registration last? one year if so will i have to file again next year? or is it just one time filing life time. Thanks

 

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naturalbornthriller

BANNED

Apr 22, 2011

249

95

• Jul 2, 2012

• #2

Your business will be registered and active as long as you want it to be. You will have annual fees you need to pay to keep your business status active. If you don't pay your fees each year, your business will no longer be active. Check with your State's Corporations Division or whoever filled your business documents to see what the annual fees are.

 

Zak_A

Senior Member

Mar 16, 2008

809

885

• Jul 2, 2012

• #3

naturalbornthriller said:

Your business will be registered and active as long as you want it to be. You will have annual fees you need to pay to keep your business status active. If you don't pay your fees each year, your business will no longer be active. Check with your State's Corporations Division or whoever filled your business documents to see what the annual fees are.

Click to expand...

I underlined the operative part of this post, as actually this varies greatly from on state/country to another. Many countries don't have you pay an annual fee to stay registered and active (appart from obvious taxes )

But as a rule of thumb, a corporation can last forever or until you decide to discontinue it or if someday it goes bankrupt (but this won't necessarily happen )

 

Baraba

Power Member

Jun 25, 2010

576

228

• Jul 2, 2012

• #4

http://en.wikipedia.org/wiki/List_of_oldest_companies - There is a hotel active since 705 (year 705). Hope your corporation will last that long

 

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brandama

Registered Member

May 24, 2012

59

10

• Jul 4, 2012

• #5

What country.jurisdiction are you in. Corporations last as long as the registration fees are paid, they are meant to be perpetual, unlike llc's which usually die with the owners.

You should have probably gone w/ an llc. Corporations have a lot stricter compliance regime that must be adhered to.

 

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browndog24

Newbie

Apr 17, 2009

16

0

• Aug 14, 2012

• #6

Until you stop paying the bills.