Your ability to get a Certificate of Good Standing depends on your ability to keep your business in good standing. The most common way businesses get into trouble is by failing to stay current with filing requirements.
Unlike most states, Ohio does not require businesses to file annual reports; however, there are other types of reports that may apply to you. For example, limited liability partnerships are expected to file biennial reports. Be sure that you’re up to date with the reporting requirements that pertain to your type of business entity.
Another common way to fall out of good standing is to fall behind on any corporate franchise taxes that you owe for the year. Failing to pay these can result in the cancellation of your Ohio corporation license. In addition, the name of your business, as it appears on official registration forms, will be put on hold for one year—no one else will be able to claim it during this time. However, after that you can lose the right to your business name.
Before applying for your Ohio CGS, check to see that you’re not behind on any filing or tax requirements. Keep in mind that delaying the filing of taxes or reports can have a negative impact on your business operations that extends beyond your ability to obtain a Certificate of Good Standing.