An official document known as a Certificate of Good Standing (COGS) attests to the fact that your company is legitimately permitted to conduct business in the state of Maryland. Additionally, it shows that your company has followed with all relevant legal obligations, including filing yearly reports and paying taxes. If you want to grow your business, ask for finance, or get a license, you must get a COGS.
Depending on the kind of corporate entity and the method of application, a COGS’s price can change in Maryland. For instance, if you apply online using the Maryland Business Express system, a COGS for a company or LLC costs $9. It costs $10 to apply in person or by mail. Regardless of the application method, the charge for other business entities—such as partnerships and sole proprietorships—is $20.
You can use the Maryland Business Express portal to look for your company name and learn the status of your LLC there. By getting a COGS, you can also determine your LLC’s current state. The COGS will be provided if your LLC is legitimate. You won’t get the COGS if there are any compliance problems, and you’ll have to fix them before reapplying.
Although a COGS is not required in Maryland, it is strongly advised because it shows that your company is in good standing with the state. When requesting business licenses, permits, and funding, a COGS is frequently needed. It also shows that your company complies with all state laws and regulations.
You can use the Maryland Business Express portal to search for your Maryland business registration number. Select “Business Registration” from the menu after logging in, then click “Search for Business Registration Information.” The system will provide you the information you require after you enter your business name or registration number.
By submitting an Annual Report and paying any due costs, your firm can become active again in Maryland if it is currently dormant. The Maryland Business Express portal allows for the online submission of the annual report. Your business will be regarded as active once you have submitted the report and paid the fees.
In conclusion, a COGS is a crucial document that attests to the validity of your company and its adherence to state regulations. Depending on the kind of corporate entity and the method of application, a COGS in Maryland may cost more or less. Use the Maryland Business Express link to find your Maryland business registration number or to check the status of your LLC. By submitting an Annual Report and paying any due fees, you can reactivate an inactive business.
A certificate of good standing is a legal document provided by the state government that attests to the fact that a company is legitimately allowed to conduct business there and has followed with all applicable laws, including those requiring the payment of taxes and the submission of annual reports. Additionally, it shows that the company is in good standing with the state. Banks, investors, and other organizations frequently demand the certificate as evidence of a company’s validity and financial health.