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An Iowa certificate of good standing (IA) is a legal document that verifies that your limited liability company (LLC) or corporation was correctly formed and is in good standing with the state.
This Certificate of Good Standing Iowa guide will explain how to get a certificate of good standing in Iowa and the requirements to get a good standing certificate.
What is a Certificate of Good Standing?
The certificate- of good standing, aka “certificate of existence,” confirms that a company is up-to-date with its filings and has no legal issues preventing it from conducting business.
This state document verifies that you have legally formed your LLC or corporation and that your company is properly maintained.
Requirements for Getting an Iowa Certificate of Good Standing
In many states, the certificate of good standing is known as a certificate of compliance. In Iowa, it is called the certificate of existence. To qualify for an Iowa certificate of compliance, make sure your corporation or LLC is up-to-date with the following state compliance requirements.
Obtain Business Licenses & Permits
Follow federal, state, and local licensing guidelines to operate your business in Iowa in a state-compliant manner. Some examples include health permits, building permits, medical and other professional licenses, etc.
To find more about state licensing requirements, visit the IASourceLink website.
Pay State Taxes
Different businesses are subjected to different taxes such as Iowa Unemployment Insurance (UI) tax, withholding tax, or sales tax, etc. Depending on your business activity, you must register for various forms of Iowa state tax.
Timely Submit Biennial/ Annual Reports
All Iowa corporations and LLCs must file an annual report that summarizes their business’s finances over the past year.
The Iowa Secretary of State requires your business to submit an annual report. The Iowa LLC biennial report filing fee is $60 and is due every two years.
How Do I Get a Certificate of Good Standing in Iowa?
Once your business is up-to-date with all filings and compliance requirements, you can order your certificate of Good Standing from the state authority.
The Iowa certificate of compliance is requested from the Iowa Secretary of State. To order your certificate of compliance online from the Iowa Secretary of State, click the following link.
The filing Cost for the Iowa Certificate of Compliance is $5.
Why Do I Need a Certificate of Good Standing in Iowa?
While you don’t necessarily need a certificate of compliance to run your LLC or corporation in Iowa, there are several instances where you may need to get one. These include:
- Opening a business bank account
- Applying for a business loan or line of credit from a bank
- Purchasing business insurance
- Trying to lease commercial space
- Soliciting funds from potential investors
- You want to register your LLC or other business in another state as a foreign or out-of-state LLC
- You want to Transfer or domesticate your business to another state
- You’re selling your business, and the buyer wants proof that the company is in good legal standing
- You are contracting with another company
- You need to show compliance with government regulations in any other situation
FAQs on Iowa Certificate of Good Standing
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