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Suspension By The Franchise Tax Board

Yesterday’s post concerned the two circumstances in which the Secretary of State might suspend a corporation.  The California Franchise Tax Board will suspend a corporation if it fails to pay taxes, penalties, fees or interest (Cal. Rev. & Tax. Code § 23301) or fails to file a return (Cal. Rev. & Tax. Code § 23301.5). These…

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Corporate Suspension By The California Secretary Of State

In California, a corporation may find its powers, rights and privileges suspended by either the Secretary of State or by the Franchise Tax Board.  Today’s post discusses the two roads to suspension by the California Secretary of State. The most common cause for suspension is the failure to file the annual information statement required by Corporations Code Section 1502…

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Court Holds Corporation “Coulda, Shoulda” Revived Itself

California law provides that a domestic corporation that fails to pay certain taxes and penalties may have its corporate rights and privileges suspended.  Cal. Rev. & Tax. Code § 23301.  While suspended, a corporation may not prosecute or defend an action or even appeal from an adverse judgment.  A corporation can regain its powers by filing…

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