A Certificate of Good Standing, issued by individual state governments, offers proof that a business has complied with local business law. It also confirms that the business is properly registered with the state and is current on its state tax obligations. These documents are often required by banks, government agencies, and other organizations. Legal Ace can eliminate the hassle of dealing with government agencies to get your Certificate.
A certificate of good standing (also sometimes called a certificate of existence) is a document issued by the state government showing that a corporation or an LLC is authorized to transact business in that state, and that it is currently in compliance with all state laws regarding business formations.
One of the most common reasons for needing a certificate of good standing is the registration of a business in another state. Typically, if you are registering an existing business in another state the new state government will request evidence of your compliance with the laws of the state in which you originally formed your company. The certificate of good standing serves as that evidence. Other situations in which you might need a certificate of good standing include requesting financing for your company from a bank, or giving assurance to an investor interested in purchasing your company.
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