Why Do You Need Mississippi Reinstatement For Your LLC Or Corporation?
When a company loses its good standing status with the state, it may end up facing noncompliance penalties and losing the benefits that come with its business entity type. If it remains inactive long enough, the state may end up administratively dissolving it, then you would need to file a Mississippi reinstatement.
What Is Needed To File For Reinstatement?
Reinstatement is the process that an administratively dissolved company has to undergo to settle its pending obligations with the state and get back into good standing. Laws governing those companies may vary depending on the state.
In Mississippi, the Secretary of State will notify a business entity if there are grounds for dissolution. If the company fails to correct them within 60 days upon the receipt of the notice, the state will administratively dissolve the business.
When that happens, the company continues to exist. However, its purpose is for the owner to either wind up its affairs or reinstate it.
The application for reinstatement in Mississippi is simple. You only have to apply using the online filing system of the Secretary of State. Corporations will also need a tax clearance certificate from the Department of Revenue. You will find a link in the system that will redirect you to the Department of Revenue website.
How Much Will It Cost To Reinstate?
LLC – An administratively dissolved LLC needs to pay the $50 filing fee for the Mississippi reinstatement.
Corporation – If you want to reinstate your Mississippi corporation following administrative dissolution, you will have to pay $50.
How Long Will This Process Take?
LLC – The Secretary of State normally finishes processing LLC reinstatement filings within 24 hours. They will send a confirmation to the email address you have provided. If you want to view the document online, go to the Secretary of State Business Services Formation website. Click the Search Listings link and search for the name of your LLC, its ID, or your resident agent.
Corporation – Then processing of corporate reinstatement documents takes about 24 hours. After that, you will receive a confirmation on your email address. You can also view the documents after the Secretary of State files them. Visit the Business Services Formation website and click the Search Listing tab. Type your company name, ID number, officers, or registered agent to see the documents.
What Is Required On The Forms?
LLC – An Mississippi LLC will have to provide the following information:
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- LLC Name
- Purpose For Reinstatement
- Business Email Address
- Company Phone Number
- Federal Tax ID Number (FEIN)
- Principal Office Address
- Name And Address Of The Registered Agent
- Name, Address, Title, And Signature Of The Authorized Representative
Corporation – Requesting for reinstatement of a Mississippi corporation requires you to disclose the following information:
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- Corporation Name
- Purpose For Reinstatement
- Business Email Address
- Company Phone Number
- FEIN
- Principal Office Address
- Name And Address Of The Registered Agent
- Names And Addresses Of All The Officers And Directors
- Name, Address, Title, And Signature Of The Authorized Representative
What Cannot Be Changed On The Forms?
LLC – You cannot change your registered agent, principal address, and the names or addresses of your members and managers on the reinstatement form. You can do that by filing an amendment.
Corporation – Mississippi corporations that need to change pieces of information related to their registered agent, principal office address, and officers or directors cannot do so on the Mississippi reinstatement form. If you have to modify any of those, file an amendment.
What If My Company’s Name Is In Use When I Need To Reinstate?
Mississippi does not offer protection for the names of administratively dissolved companies, so another business entity can take yours. If it is no longer available when you reinstate, you will have to use a new one.
How Can DoMyLLC Assist With Streamlining?
Returning your company to good standing status requires you to complete the Mississippi reinstatement process. It involves formal paperwork. If you think you need help in dealing with the transactions, do not hesitate to contact a seasoned third-party organization like DoMyLLC.
If you are looking for a team of experts experienced in ensuring company compliance with state obligations, then you are in luck. We can give you personalized solutions to fit the needs and situation of your company. Our partnership can extend beyond reinstatement. We also provide live support and other services that can help keep your company in good standing.
Mississippi Reinstatement FAQs
Can you change your registered agent on the reinstatement?
No, you cannot. You will need to file an amendment to change your registered agent information.
How many annual reports can your company fail to submit before the state prohibits reinstatement?
There is no limit to the number of missed annual reports in Mississippi. You can apply at any time after the administrative dissolution.
How long can your company be inactive with the state before it has to start over as a new business entity?
Mississippi does not have a deadline for reinstatement. Your company can reinstate at any time as long as it settles all its pending obligations. However, the state does not keep company names safe. It is possible for another entity to take yours while you are still administratively dissolved.