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KeyCollector
Level 1

What happens if i never dissolved a Maryland business?

I have started both a LLC, and a Corporation through maryland express business filling.  This was over 3 years ago now. I have not done any business activities with them, no profit, no loss... nothing. I have done no annual reportings to federal or state at all.

 

I wish i never registered them, but there they are. What actions do i need to take to get rid of them? Will the state automatically dissolve them for me with time? Or will i will liable for fees and the costs to dissolve them manually?

 

I have seen articles online stating they will automatically dissolve, but i have also seen posts about getting billed 10 years down the road for all the accrued fees.

 

Some advice would be helpful. Thanks

 

--Trevor K Smith

1 Best answer

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Opus 17
Level 15

What happens if i never dissolved a Maryland business?

You would need to ask the Maryland secretary of state's office, or whatever other agency manages corporate registrations.  Every state is different.  (In California, you would owe $800 per year corporation fee regardless of whether you did business or not.)

 

This is mainly an income tax forum, and you don't have an income tax reporting requirement if you don't have income.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

1 Reply
Opus 17
Level 15

What happens if i never dissolved a Maryland business?

You would need to ask the Maryland secretary of state's office, or whatever other agency manages corporate registrations.  Every state is different.  (In California, you would owe $800 per year corporation fee regardless of whether you did business or not.)

 

This is mainly an income tax forum, and you don't have an income tax reporting requirement if you don't have income.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

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