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socrateaser, Attorney
Category: Business Law
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Experience:  Retired (mostly)
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TOPIC: LLC; Correct the “forfeited” status in Maryland. We

Resolved Question:

TOPIC: LLC; Correct the “forfeited” status in Maryland.

We own a Internet business and we were interested in changing our legal business name, for no reason other than it would give a better understanding of the type of business we operate. We are a small business, only 1 employee (myself, the business owner) Should we:
A. Change or Start new LLC
B. Pay the $XXX annual filing fee for each year "forfeited" (7 years).
Submitted: 5 years ago.
Category: Business Law
Expert:  socrateaser replied 5 years ago.
Only you can decide what you "should" do. You can do either. However, if it were me, I would register a new business, because it would give me a clean start.

The only exception would be where a creditor is likely to sue the old business entity, because by leaving the business entity in a forfeited state, I may be unable to defend in court without first formally reviving the business entity.

Hope this helps.

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