I started a NJ incorporation and never made a dime. I didn't have money to even pay the annual fees for NJ. They gave me an option to pay a monthly fee on what was owed. I followed through with it but recently lost my job and I couldn't pay that amount.
They said that if I didn't pay them the monthly fee then the account would be forwarded to collections. What does that mean? In addition, I recently received a letter from the state that the company is no longer active and that if I ever wanted to use the company again I would have to pay what is owed and then re-open the company.
So where does this leave me? What are my liabilities?
In addition, when I am on my feet again, am I obligated to pay up for the annual fees if I don't want to use the company anymore? Or is that optional? I would like to pay anyway but would like to know. Also, when i am not paying, is that amount piling up to the bill or since the company is not in good standing the tax doesn't accrue?
Estate Planning Attorney
You have an inactive corporation and have the state as a creditor pursuing a past due debt.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.
Divorce / Separation Lawyer
They will suspend and latter disolve corporation. You are not personally liable for the fees.
Contact local consel
I concur with my colleagues. A way to avoid the issue is, when you are ready to start a new entity, since there is no goodwill that you need to preserve, is to create a new entity with a different name, and instead of creating a corporation, create an LLC.
The foregoing is not intended to be legal advice upon which you may rely as I have not been retained for this purpose.