What happens if i never dissolved a Maryland business?

KeyCollector — Fri, 14 Aug 2020 18:04:30 GMT

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

Re: What happens if i never dissolved a Maryland business?

Opus 17 — Fri, 14 Aug 2020 23:23:16 GMT

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.

topic What happens if i never dissolved a Maryland business? in Business & farm

What happens if i never dissolved a Maryland business?

Re: What happens if i never dissolved a Maryland business?