Certificate of good standing
A Certificate of Good Standing, also called a “Certificate of Existence” or “Certificate of Authorization,” is a state-issued document that shows that your company has been duly incorporated, is authorized to carry on business in that particular state and has met all statutory requirements necessary for it to carry on its businesses.
Among other things, a Certificate of good standing confirms that your business:
- Is up-to-date on its Annual Report filings
- Is up to date in its tax payments
Usually, companies request a Certificate of good standing for their personal records, but it may also be required by:
- Foreign governments, if you’re applying for foreign qualification there
- Lenders, when you’re trying to obtain financing
- Banks, for certain transactions
- Potential business partners or investors
You may need to present your Certificate of good standing in order to renew specific licenses or permits. In addition, if you are looking to register to do business in additional states, those states may ask for a copy of your Certificate of Good Standing
Do you need a Certificate of good standing?
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Team 618 Bees
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