Q:
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Why is my business suspended by California Secretary of State?
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A:
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The SOS will suspend/forfeit your business for not filing the required Statement of Information. You can be suspended/forfeited by SOS and FTB at the same time.
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Q:
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Why is my business suspended by California Franchise Tax Board?
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A:
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Generally, businesses are suspended when they fail to file a return or/and pay taxes, penalties, fees, and interest. Business in California is subject to at least $800 franchise or annual tax from their registration date to current, regardless of business activity.
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Q:
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Is any penalty imposed on me if my company is suspended?
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A:
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If the SOS suspends/forfeits your business, it may impose a $250 penalty. If the FTB suspends/forfeits your business, your business may be subject to a $2,000 penalty per tax year for failure to file missing tax returns within 60 days after receiving a written demand to do so. Please contact the State to figure out the final penalty amount.
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Q:
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How to revive my business if the company is suspended by California Secretary of State or Franchise Tax Board?
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A:
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1.
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Secretary of State suspended
Your business can be revived by filing a current Statement of Information with this office.
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2.
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Franchise Tax Board suspended
Firstly, you must file all past due tax returns, pay all past due tax balances. Then you should file the Application for Certificate of Revivor with California Franchise Tax Board. Please note that your business must be in good standing with the Secretary of State before you revive your business entity with Franchise Tax Board.
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Q:
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How to revive my business if the company is suspended by California Secretary of State and Franchise Tax Board at the same time?
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A:
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First file a current Statement of Information with the Secretary of State, and obtain a letter of proposed relief from suspension or forfeiture. Upon receipt of the proposed relief letter from the Secretary of State, the business entity should complete an Application for Certificate of Revivor and submit the application along with a copy of the proposed relief letter to the Franchise Tax Board.
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