Answers To Your Questions
Find answers here to some of the most common questions that business owners like yourself have.
What does suspension mean?
When an entity is suspended, the company has lost all its rights and privileges and cannot legally operate in the State of California. A suspended business entity is technically not permitted to engage in business transactions as long as the suspension is in place. Additionally, companies in this situation are prohibited from filing or defending lawsuits, may not close real estate or business sales transactions, enforce or enter into new contracts, and may potentially lose rights to their corporate name.
What are my options?
Who suspended me?
How do I tell?
Are the FTB and SOS websites accurate?
Can I file an amendment, dissolution, or cancellation while my entity is suspended?
The State will process an amendment to change an entity name while the entity is suspended, but will not process a dissolution or cancellation for a suspended entity.
Do I need to grant you power of attorney in order for your firm to represent us at the FTB/SOS?
What happens to my entity’s name while the company is suspended?
As long as your entity is under suspension, the Secretary of State does not protect your exclusive use of the company’s name. This means that another, newly formed entity may assume the use of the name.
Why are some other companies charging thousands of dollars for revivor services? Can you really accomplish the same thing at a lower cost?
Absolutely. We’re not looking to take advantage of a situation that is already expensive and stressful for our clients. We can’t speak for how other companies establish their fees, but we’re upfront about exactly what our fees and services entail. Although we recently spent two hours and 55 minutes at the FTB reviving an entity that was in escrow, we have not found it necessary to charge $1,000 or more. One of the greatest satisfactions we have in business is when we are finished reviving a client’s entity and we e-mail them writing: “You’re Revived” and call them saying: “You’re Revived”, to hear the sound of excitement in their voice is quite rewarding.
Have More Questions?
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