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how long does a corporation last?

Discussion in 'Business & Tax Advice' started by TroubleTimes, Jun 21, 2012.

  1. TroubleTimes

    TroubleTimes Registered Member

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    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
     
  2. naturalbornthriller

    naturalbornthriller BANNED BANNED

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    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.
     
  3. Zak_A

    Zak_A Jr. VIP Jr. VIP Premium Member

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    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 ;) )
     
  4. Baraba

    Baraba Regular Member

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  5. brandama

    brandama Registered Member

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    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.
     
  6. browndog24

    browndog24 Newbie

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    Until you stop paying the bills.