A deadline looms for businesses that have failed to maintain their good standing with the state
not so good standing 12/26/12
A deadline looms for businesses that have failed to maintain their good standing with the state. Brent Martin has the story. . .
A change made to the Model Corporate Act set a five-year limit for businesses which have lost their good standing with the state to get it back. Secretary of State John Gale says businesses that have failed to file their occupation reports, failed to pay their occupational taxes and failed to keep their registered agents current since 2007 will be considered administratively dissolved on January first. . .
Secretary of State John Gale; "lost their good standing"
The legislature changed the law to avoid creation of "shelf" companies, businesses no longer operating, but with the paperwork needed to launder money from illicit gains.
A warning has been issued by the Secretary of State that businesses which have failed to keep in good standing with the state will be administratively dissolved.
The legislature changed the law to dissolve such businesses after five years.
Secretary of State John Gale says businesses that haven't paid their taxes and kept their registered agents current are vulnerable. . .
Gale; "reasonable time"
If a business has let their standing lapse since 2007, it will be dissolved on January first.
Secretary of State John Gale is issuing a warning to businesses which have failed to keep up with their proper paperwork: the state now has placed a deadline on maintaining their good standing.
Gale says the legislature changed the Model Corporate Act to place a five-year limit on businesses that have left their standing lapse. . .
Gale; "start over again"
Businesses most vulnerable are those that have failed to pay their occupational taxes, file their occupational reports and keep registered agents current since 2007. Those businesses will be administratively dissolved by the state on January first.
A warning to business owners from Secretary of State John Gale: the state no longer gives businesses unlimited time to keep in good standing.
A change in the law strips businesses of their limited liability if they fail to file their paperwork, pay their taxes and keep their agents current for five years. Gale says the deadline is looming for businesses that have allowed that to lapse. . .
Gale; "their status back"
Previously, the state set no deadline for businesses to keep current.
Gale says that for some businesses, they don't have much time. . .
Gale; "for five years"
(courtesy of Nebraska Radio Network)
