What is a Certificate of Good Standing?
A Certificate of Good Standing, also known as a “Certificate of Existence” or “Certificate of Status”, is a certificate issued by a state official as evidence that your corporation or LLC is in existence, and is authorized to transact business within that state.
Examples of situations in which a Certificate of Good Standing may be required include:
- To qualify/register as a foreign entity in a state other than your formation state
- To obtain financing
- To sell a business
- To renew a license or licenses
- To enter into many business transactions and contracts
- To ensure that the state has received all fees, taxes and any penalties owed
- To ensure that ” Articles of Dissolution” have not been filed with the state.
- To open a bank account
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