Results 1 to 5 of 5
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10-21-2019, 12:49 PM #1
Reputation points: 31
- Join Date
- Apr 2017
- Location
- Orange County, CA
- Posts
- 90
Bad SOS
Have a merchant that owes state taxes and thus cannot update their SOS for the time being. Any lenders willing to work with such a high risk file?
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10-21-2019, 12:55 PM #2
Reputation points: 19288
- Join Date
- Feb 2016
- Posts
- 242
That means he legally isnt able to operate as a business.
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10-21-2019, 01:09 PM #3
Reputation points: 179851
- Join Date
- Jun 2017
- Posts
- 2,049
You can get it done.
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10-21-2019, 02:29 PM #4
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10-21-2019, 04:14 PM #5
Reputation points: 19288
- Join Date
- Feb 2016
- Posts
- 242
he can operate, yes. If his bank finds out they can close his account because legally you need to be registered with your state to do business. The state can dissolve his business if it stays inactive for a prolonged period. Obviously, if you're a sole prop this does not apply to you.