CAUTION: California Corporations & LLCs May Be Subject to Administrative Dissolution!

in Business & Corporate Law, General, General Counsel Service

NEW LAW 2019: AB 2503 - CAUTION TO CORPORATIONS AND LLC'S In today’s day and age, the corporate world is always shifting, and new legislation passes every year that changes the way California businesses must conduct themselves. Recently, AB 2503 was signed into law and will be effective starting January 1, 2019. This law directly impacts how the California Franchise Tax Board can dissolve and dismantle a California entity for something as innocent as failure to pay annual fees. If an entity has been suspended for a specific period of time by the Franchise Tax Board, the FTB can notify the...