Did you spend some time restructuring after getting rid of your corporation? Do you want to jump back into the business game and become successful again? We've got good news and we've got bad news. The best part is that it's likely you're going to be able to do just that. We're going to spend this article discovering how far you'll have to go to get your old corporation back, how you can revive it, and that path to success once more. Let's get started.
How Long Does Your Company Exist For?
This may surprise you, but there isn't an exact answer to this. There is no federal standard as of this writing in the United States. Indeed, you'll find more often than not that the corporation sticks around for about a year. New Mexico, as of this writing (again), is 2 years! And some go beyond that as well.
When you initially incorporate, you should be given documentation regarding this law and the guidelines to restart your corporation should you need to stop it. This includes stepping away for personal reasons, illness, etc. So long as you do everything by the book, it doesn't matter why you've removed your corporation. Just remember to triple-check that you're within that stated time frame. You don't want to be caught two days past it and someone else grab your corporation name, jump back into your business model, and outdo you.
Fees and Forms
Much like with the above section, you'll find that fees and forms depend largely upon where you intend to re-incorporate. Again, this should have been spelled out for you during your first instance of incorporation. If it wasn't or you've since lost those forms, it's a simple matter of heading back to your tax office to speak with them about the process.
You may also be able to look this information up online. Though most states don't allow you to complete the process of incorporation online, many do publish the process and the cost of their fees throughout the internet so as to avoid a long line of people only seeking this information. A quick phone call may also give you the information you need.
Most of the time, the fee is in the lower 3-digit range and there are only a few forms to fill out. However, as stated, we recommend talking directly to your state office and the responsible people there. They have the most up-to-date information, though our library of articles are frequently updated as well. You can take a glance at incorporation fees by state here.
When it's time to start over and you've been cleared to begin business as a corporation once again, we're sure that you'll be ready to grab the sun and put it in your pocket. However, do remember that you're beginning afresh. If you have any negative reviews or any past issues, these don't clear up just because you remove your incorporation status and begin again. You're starting over, not starting fresh. If you need a new business identity, you may wish to consider starting up a new corporation rather than reviving your old one; even if the old corporation is only going to provide a support structure while you work to create your new company.
If You Can't Revive
Perhaps your identification has already been taken over or a similar business has popped up while you were unincorporated. This happens and it can be devastating to lose the identification you worked so hard to create. However, again, do remember that your state will have a certain amount of time that they will hold your name, filings, and so forth for.
So long as you reincorporate within that time period, any companies that are close to your own should not be approved. If you find one that is, simply contact the office and file a complaint. It should be of no issue to have the name, identifying features, or any other such business standards changed so as not to impact your business or your business model.
Perhaps your incorporation time has passed but no one has created a business like yours again. Your identification is safe and you desire to start business once more. It's a simple matter of creating your corporation once again and recreating the registration. Unless it has been a significant time since you did your initial paperwork, this should be a process much like what you've already experienced. If you need help, simply select your state and follow the links to incorporating information here on our site.