Frequently asked questions
What does it mean when my business entity is not in good standing or forfeited?
“Not in good standing” means that your business entity is not in compliance with one or more state laws that apply to your businesses and your responsibilities with your state.
Why should I create a legit business?
Getting Legit means to get get an offical business structure such as a Limited Liability Company formed under your state's statute. It is a separate legal entity from you (known as a “member”).
An LLC offers some of the same benefits of a corporation—without the costs and a lot of red tape. Business owners looking for personal liability protection, tax flexibility, and management options may find that forming an LLC will be a good choice.
What is an LLC organizer?
Legit My Biz is an LLC organizer. We prepare, sign, and file an LLC’s Articles of Organization with the state on your behalf.
What is an annual report?
An Annual report is a filing that details your business activities throughout the prior year.
What are the most common reasons that a business is not in good standing?
A missing Annual Report and Business Personal Property Return, also called a Form 1
A monetary penalty resulting from the late filing of a Form 1
A check or other form of payment that was dishonored
Not having an active resident agent
An issue with the Maryland Office of the Comptroller
An issue with the Maryland Department of Labor
How are we different from attorneys?
An attorney is focused on reducing legal liability, not preventing the stuff that causes liability. You usually seek an attorney after you are hot water. That’s how attorneying works. An attorney helps protect you with legal clauses and agreements in case the water starts boiling. You are responsible for actually making things go right or wrong in the first place. This is where we come, and we help you make things go right.
Think about a house fire. After the fire, you will call the insurance company to figure out what you can do after the fire destroys your home. Legal is the insurance team. We, the safety team, go around the home and see where a possible fire could happen and work with you to take measures to prevent a fire from occurring.