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Certificate of Good Standing: Why Do Businesses Need This Document?

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What is a certificate of good standing — and how do you know if, or when, your business needs this documentation?

What’s a Certificate of Good Standing?

You might have heard of this term before. If not as a certificate of good standing, it may be referred to as a different name such as certificate of facts, certificate of existence, or certificate of status.

A certificate of good standing is a legal document that proves your business is registered to operate in its state of incorporation. This same document also serves as physical proof that your business is in existence and in compliance with the state.

That means your entity formation, usually a corporation or LLC, has met all legal obligations. Some of these include paying all statutory dues, such as taxes and fees, and filing periodical reports in a timely manner. As such, the company is authorized to transact business because it has proven to be in good standing.

When Do I Need a Certificate of Good Standing?

There are several occasions where you will need a certificate of good standing. Some of these include, but are not limited to, the following instances:

  • Conducting business in a state outside of your state of formation. The original certificate of good standing must be accompanied by a certificate of authority to do business, as you are doing business in a state that is different from the state where you incorporated the business.
  • Obtaining financing with potential lenders.
  • Entering into, and performing, business transactions and contracts.
  • Renewing business license(s) or permit(s).
  • Opening a business bank account.
  • Selling a business.

In addition, having a certificate of good standing shows that the state of formation has received all fees, taxes, and penalties it may have been owed from the business. It also certifies that articles of dissolution have not been filed with the state.

How Do I Get a Certificate of Good Standing?

A state official will issue the certificate of good standing to the business that is seeking to obtain it. In order to obtain a certificate of good standing, you will need to file an application and include the following information.

  • The name of the business.
  • A statement that states your business is incorporated and authorized to do business in that state.
  • Notice that all fees and taxes owed to the state have been paid.
  • Notice that the most recent annual report for the business has been filed.

Remember to pay a filing fee prior to submitting this application.  Submit the materials to the proper mailing address or drop off at the appropriate location. If you are unsure where this is, you may check in with the Secretary of State to find out.

What Else Should I Know About the Certificate of Good Standing?

Congratulations on obtaining your certificate of good standing!

As a final pro tip, remember to keep up with the expiration date for the certificate of good standing. Generally, most certificates are valid for up to 90 days. Afterwards, you may need to pay a renewal fee to restore its status as active.

This certificate is your official evidence that your corporation or LLC is in existence. You may now legally transact business within the state, so keep up with its fees in a timely manner.

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Running a Business

Six Office Remodels That Will Help Improve Work Culture

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The physical space of an office plays a significant role in creating a positive or negative work culture. When your team members love coming to the office, it shows in their attitudes and overall job satisfaction. Thankfully, by researching a few key remodels, like floor plans, furniture, and LVT flooring reviews, you can create an inviting and inspiring space for your staff.

1. Open Floor Plans

One of the most popular remodeling trends is to ditch the traditional cubicle layout in favor of an open floor plan.

An open floor plan typically means no physical barriers between employees. This can help to encourage communication and collaboration, as employees can easily talk to one another. It can also make the office feel more relaxed and informal, which many prefer.

The downside to an open floor plan is that it can sometimes be too noisy and chaotic. If you opt for this type of remodel, make sure you have ample sound-dampening materials to help keep the noise level down.

2. Private Offices

If you prefer more privacy in your office space, then private offices might be the way to go.

Private offices are small, enclosed spaces that can be used for individual work or meetings with clients or employees. They offer more privacy than an open floor plan but allow for more collaboration since people can easily meet in a small space.

They can sometimes feel too isolating, so make sure you have plenty of other areas in your office where employees can socialize and collaborate.

3. Breakout Areas

Breakout areas are another popular office remodeling trend. These are usually informal and comfortable areas where employees can take a break from work, relax, and socialize. They can include couches, TVs, games, and other fun activities. They’re a great way to support staff, especially if you work in a stressful industry.

Breakout areas can also be used for collaboration, so if you have the space, you may want to consider creating a few different ones. For example, you could have a quiet area for individual work and a more lively area for group projects.

Ergonomics

4. Ergonomic Furniture

Ergonomic furniture is designed to be comfortable and supportive. It can help to reduce strain on the body and improve posture. This type of furniture is becoming increasingly popular in offices, as it can help to improve employee health and productivity.

If you’re considering an ergonomic office remodel, talk to a professional about the best way to implement it. You’ll want to ensure that all your employees have access to comfortable and supportive furniture.

5. Updated Flooring

Updating your office’s flooring is another excellent way to improve its look and feel. Replacing your current flooring can make a big difference if your existing flooring is dated or damaged.

There are many different types of flooring to choose from, so you’ll want to consider your options carefully by researching multiple carpeting and LVT flooring reviews. You should also consider how easy the flooring will be to clean and maintain.

6. Better Lighting

Poor lighting can cause various problems, including eye strain, headaches, and fatigue. If your office has fluorescent lighting, you may want to consider replacing it.

LED lighting is a great choice for office spaces because it’s natural and inviting. It also provides better light distribution, so everyone in the office can see clearly. LED lighting is also energy-efficient, so it can help save you money in the long run.

Colleagues in an office space
photo credit: Kindel Media / Pexels

Final Thoughts

These are just a few of the many office remodeling trends that you may want to consider. Updating your office can create a more enjoyable and productive workplace for your employees.

Research what would work best for your business, and check out all of the furniture, lighting, and LVT flooring reviews you can find before making any final decisions. Your employees will be happy you made the investment and will enjoy spending time in the office.

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Leadership

Rekindling a Sense of Community at Work

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