The main, and sometimes only, requirement to keep your corporation active or in “good standing” with the state where it is formed is to ensure the annual statement is filed on a timely basis. The annual statement is a form that you fill out listing the names of the officers and directors of the corporation. The form is mailed out to all existing corporations by the Corporate Filing Office. Most states require the payment of an annual fee ranging from $20 to $100 when filing the report. In some states, there is no fee required.
If you do not file the annual report form timely, then your corporation can be suspended as an active corporation until you do file the form. Most states grant you a grace period, but if the form is not filed within the grace period, then your corporation is administratively dissolved, which means it cannot legally conduct business within the state.
Special Note: You need to be aware that during the time your corporation is administratively suspended or dissolved, the liability protection of your corporation may also be suspended or lacking and your personal assets may be at risk for any legal actions, or causes of action, which might arise during that period of time.