Hi. I’m Tim Mayclin, CPA from Rohnert Park, California.
If you’re thinking about incorporating your business, there’s a few requirements that you must do every year to maintain your corporate status in good standing.
In California, you need to file a Statement of Information with the Secretary of State every year. That’s due on the final day of the month that you incorporated. You need to pay the minimum of $800 every April to the Franchise Tax Board for the California franchise tax.
Finally, you need to have at least one meeting of the board of directors and one meeting of the shareholders every year, even if there’s only one person as a shareholder and a board of directors. And you have to have minutes and keep them in your record book.
If you don’t do these three things, your corporation will not remain in good standing with California. If you need more information, please contact your local CPA. Thank you.