Legal Question in Business Law in California
A corporation was incorporated in California in 2001 but has never done any business at all because capital could not be raised. It is now in suspended status. How long will it be in that status before its franchise is revoked. Will its name be rendered available if some other investors would want that corporate name.
The corporation is registered in California.
2 Answers from Attorneys
The name is available (it becomes available upon suspension by the Cal. Secretary of State), and it will stay in that status indefinitely. While suspended it has no powers to conduct business, and any contract entered into by it is voidable by the other party. You need a business lawyer to help revive the corporation.
Check out my website - www.CaliforniaLegalSolutions.com
Corporations that are suspended stay in that status forever unless someone pays all the back taxes due, and that never happens. The name is available to anyone who wants it, but I'd be cautious about re-using a suspended corporation's name because there may be liabilities associated with it. Finally, there seems little reason to pay the back taxes to revive a suspended corporation that has never conducted any business.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
