Can Indiana charge a fee to a Co. just for existing?
Many years ago I created a corporation. I did it to help get business loans. Nothing at all came from it. Not even a business card. Now Indiana says I owe them for basically existing. Is that right? What am I being charged for?
- Nuff SedLv 71 year ago
If you figured out how to register an Indiana corporation, it should be easy enough to find out how to dissolve your dormant Indiana corporation, under the pertinent business corporation laws. At the very minimum there is a requirement to file a notice of intent to terminate the corporate charter, which will require a fee, if not also a bond to cover any "claims" filed over the next three years (or whatever). If you have never entered into any corporate obligations, they may agree to waive the bond requirement. It's possible they will want you to file a "pro forma" annual statement (and fee) for each intervening year, since you cannot legally "do business" unless the corporation is "in good standing". I haven't ever had to shut down any corporations in Indiana, so I haven't actually looked up the pertinent rules for you.
- Casey YLv 71 year ago
Yes, a business needs to be registered and there are usually annual fees associated.
File to dissolve the corporation and the fees go away...once you've paid all of the current fees owed...
- Elaine MLv 71 year ago
ASK them what they're charging you for. They need to put it in writing.
In some way you agreed to or were part of something that required payment to go to them.
- babyboomer1001Lv 71 year ago
What has a business card got to do with it? If you think that makes any difference at all, you are clearly naive. It sounds like you failed to file your corporate minutes and maintain the books you were "required" to maintain, for the corporation. What sort of an idiot files papers creating a corporation, and fails to maintain the books, which includes articles of incorporation, certificate of incorporation, organizational minutes, by-laws, share certificates, etc.? You obviously didn't hire a lawyer to maintain your books and you didn't bother yourself. People don't generally do it themselves, because they don't know what to do but they DO hire a lawyer to keep the corporation "legal". So now you have to pay. It is not a fee and it is not just for existing. It is a fine for failing to comply with the law.Source(s): Certified Paralegal, with 25+ years' experience & with Corporate law experience.
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- StephenWeinsteinLv 71 year ago
Yes. You are being charged for not filing the paperwork necessary to end the existence of a corporation. A human is not charged just for existing, but a corporation is.
- Anonymous1 year ago
Same thing happened to me sort of in a different state. I did not have to pay it...unless I wanted to do business with the state again.
Eventually, I did so I paid them. Then I cheated them out of far more than they cheated me.
Moral of the story: Don't cheat me or I will cheat you back.