CAUTION: California Corporations & LLCs May Be Subject to Administrative Dissolution!
NEW LAW 2019: AB 2503 – CAUTION TO CORPORATIONS AND LLC’S
In today’s day and age, the corporate world is always shifting, and new legislation passes every year that changes the way California businesses must conduct themselves. Recently, AB 2503 was signed into law and will be effective starting January 1, 2019. This law directly impacts how the California Franchise Tax Board can dissolve and dismantle a California entity for something as innocent as failure to pay annual fees. If an entity has been suspended for a specific period of time by the Franchise Tax Board, the FTB can notify the Secretary of State and take action to administratively dissolve and shut down the entity. There are certain rules the FTB and SOS must abide by when moving to dissolve an entity. Castro Law provides services that protect entities from being dissolved or suspended by the FTB and maintain good standing with the Secretary of State. If you or someone you know is in danger of their entity being forcefully shut down by the FTB or SOS, or you simply want a corporate “check-up”, give our office a call for a free consultation on options for saving you from the headache of the shutdown of your business. Don’t let the FTB bully you!
To see the full AB 2503 visit: https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201720180AB2503
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