Legal Question in Business Law in Florida

Re: What is administrative dissolution for annual report mean?

The dissolution means that the corporation failed to pay the annual corporate fee to the State of Florida to remain active. As a result, the corporation is no longer deemed active by the State of Florida. At this time, the only official business the corporation can do is to wind down its affairs. Any activity beyond this may result in personal liability for the officers and/or directors.

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Re: What is administrative dissolution for annual report mean?

It means that the corporation's annual report was not filed and/or the annual corporate filing fee was not paid by the corporation to the State. Before the corporation can conduct any business (other than winding itself down), it must first become active again or get reinstated by filing an annual report and paying its delinquent filing fees. If the officers or corporate representatives of the corporation elect to ignore this step, they may expose themselves to personal liabilities for the actions purportedly taken by them on behalf of the corporation. Seek the advice and counsel and good luck.