What is Good Standing? Definition, requirements, and how it applies to your business formation. Learn everything about good standing status for LLCs and corporations.
# Good Standing Status
Good standing is a status indicating that a business entity has met all of its state-required obligations — annual reports filed, taxes paid, registered agent maintained. An entity in good standing is authorized to conduct business and can obtain official certificates proving its status.
Losing good standing can prevent you from enforcing contracts in court, opening bank accounts, obtaining loans, registering in other states, or renewing business licenses. Reinstatement requires paying all back fees plus penalties.
Lovie continuously monitors your entity's good standing status across all registered states and alerts you before any filing deadline that could jeopardize it.