I had a corporation in Florida started in 2000 and the state filed Administrative Dissolution for failure to file annual report for 2002. It is currently inactive for the last 6 years. I am starting up my business again, and was thinking that if I re-activate the corporation, I would have a 8 year history and therefore might qualify for business credit more effectively. Any thoughts if this might work, or is it a not so good idea. Thanks in advance for reading.
What type of corporation was this? (C,Sub S). Considering there was a filing of dissolution, you would have to look at whether it could be "brought back" under FLA law, and what it would entail. If you are a small business, I would suggest moving on, and perhaps filing as an LLC now. They have the most benefits for a smaller company.
Thanks for your reply. It was a S-Corp and there were no articles filed by me to dissolve, it was automatic because I never filed annual report. I am under the understanding that I have to file the past annual reports, and apply for re-instatement to an active corporation. It will be a small business, I was just hoping that an 8 year S-Corp would help override the PG factor on most credit applications.
I doubt the 8 year history is worth the 7 years of $150 filing fees plus the reinstatement fee. Plus any lender that wants to take a closer look is going to find not an active business history, just a long snooze.
