Connecticut collected $1.3 million in fines from 261 companies that conducted business here during the state’s 2013 fiscal year without having legal permission to do so, officials said this morning.
Corporations, limited partnerships, limited liability companies, limited liability partnerships and statutory trusts formed outside Connecticut must first obtain a certificate of authority from the secretary of the state’s office and pay a fee before conducting any business transactions in Connecticut.
The penalties collected during the state’s most recent fiscal year, which was from July 2012 to June 2013, were slightly less than those collected in the 2012 fiscal year.
The law requiring out-of-state firms to first register with the state protects both domestic firms and consumers who may have a grievance with an out-of-state firm. Companies in violation of the statute face a $300 fine for every month they are doing business in Connecticut without legal authority.
