California Withdrawal of Assumed Name for Corporation The California Withdrawal of Assumed Name for Corporation is an important legal process that allows corporations operating under an assumed name to discontinue using it and revert to their original, registered name. Assumed names, also known as fictitious business names or DBA's (Doing Business As), are alternative names used by corporations to conduct business activities different from their registered name. However, if a corporation no longer wishes to use an assumed name, this withdrawal process must be followed. Keywords: California, Withdrawal, Assumed Name, Corporation, Fictitious Business Name, DBA, Legal Process. Types of California Withdrawal of Assumed Name for Corporation: 1. Voluntary Withdrawal: A corporation can choose to voluntarily withdraw its assumed name by submitting the necessary forms and documentation to the appropriate governmental agency. This withdrawal is often prompted by strategic rebranding, mergers, acquisitions, or shifts in business focus. 2. Involuntary Withdrawal: In certain cases, the state of California may require an involuntary withdrawal of an assumed name for a corporation. This typically happens when a corporation fails to comply with legal obligations, such as providing accurate and up-to-date information, or engaging in fraudulent activities under the assumed name. 3. Dissolution: Dissolving a corporation also automatically results in the withdrawal of an assumed name. When a corporation decides to cease its business operations permanently, it must follow the dissolution process, which includes the cessation of using any assumed names. To initiate the California Withdrawal of Assumed Name for Corporation, the corporation must complete and file the appropriate forms with the California Secretary of State's office and pay the required fees. The forms typically include: 1. Withdrawal of Assumed Name Statement: This form requests details about the corporation, including the registered name, assumed name, and reasons for the withdrawal. 2. Certificate of Good Standing: Corporations must provide a current Certificate of Good Standing, issued by the California Secretary of State's office. This document verifies that the corporation is in compliance with all legal obligations and is authorized to withdraw its assumed name. 3. Consent to Withdraw: If there are multiple parties involved in the assumed name, such as shareholders or partners, their consent may be required to proceed with the withdrawal. Once the necessary forms and documents are submitted, the California Secretary of State's office reviews the application. If everything is in order, they will process the withdrawal request, update the corporation's records, and remove the assumed name from their database. It is crucial for corporations to properly complete the California Withdrawal of Assumed Name for Corporation to ensure legal compliance and avoid any potential penalties or future legal complications. Seeking professional advice, such as consulting an attorney or a business formation service, can be beneficial in navigating this process smoothly and efficiently.
California Withdrawal of Assumed Name for Corporation
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How to fill out California Withdrawal Of Assumed Name For Corporation?
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File the appropriate dissolution, surrender, or cancellation SOS form(s) within 12 months of filing your final tax return. Currently, LLCs can submit termination forms online. Online submission for Corporation and Partnership dissolution/cancellation forms is not available at this time.
Canceling a California DBA is referred to as abandonment. If you wish to abandon your DBA before it expires, you'll need to file a statement of abandonment of use of a fictitious business name with your county clerk's office. Depending on your county, you may also need to pay a fee.
The filing is valid for five years or until the facts in the statement change, whichever occurs first. A fictitious business name statement usually must be filed within 40 days of starting the business. Along with the original, the county or city may require several copies of the statement for filing.
File the appropriate dissolution, surrender, or cancellation SOS form(s) within 12 months of filing your final tax return. Currently, LLCs can submit termination forms online. Online submission for Corporation and Partnership dissolution/cancellation forms is not available at this time.
A domestic (California) or foreign (out?of?state or out?of?country) corporation, cooperative, limited liability company and limited partnership can dissolve, surrender or cancel by filing the applicable termination form(s) online at bizfileOnline.sos.ca.gov.
How to Dissolve a Corporation in California Step 1: Shareholders Vote to Dissolve the Corporation. ... Step 2: Prepare and File a Certificate of Election. ... Step 3: Board of Directors Provides Written Notice of Corporation's Dissolution. ... Step 4: Pay Taxes, Settle Debts, and Distribute Remaining Assets to Shareholders.
When you decide to sell, close, or discontinue business operations within Los Angeles, you must cancel your City of Los Angeles' Tax Registration Certificate by sending a letter or by completing a Taxpayer Information Update Form and sending it to the Office of finance.
Canceling a California DBA is referred to as abandonment. If you wish to abandon your DBA before it expires, you'll need to file a statement of abandonment of use of a fictitious business name with your county clerk's office. Depending on your county, you may also need to pay a fee.
