HUB = UNIFORM BUSINESS ORGANIZATIONS CODE WA RCW: 23.95
A new law is coming into effect January 1, 2016 which will affect Profit, Nonprofit and Mutual Corporations, Partnerships, Limited Partnerships, Limited Liability Companies and more. It’s main purpose is to create uniformity in business organizations that file with the Secretary of State.
- Effective January 1, 2016
Initial Annual Reports
- Will no longer be required for any foreign entities.
- Must be filed on domestic entities including Limited Partnerships. They will have 120 days to file then will be delinquent for 65 days before they will be administratively dissolved by the Secretary of State. Limited Liability Partnerships and Non-profits will continue to remain exempt from filing the initial annual report.
- All foreign entity registrations will use the same form to “qualify or form” called the Statement of Registration, but still require a current good standing from the domestic state.
- Foreign to foreign mergers can now use one form called Transfer of Foreign Registration, if the surviving entity is not already registered with WA and would like to be registered, they will need to include a good standing from their domestic state. The fee for this form will be the same as an amendment.
- A new designation of Commercial Registered Agent will be available. This will allow for mass changes to multiple entities instead of making changes one filing at a time. Example; address change
- Resignation of registered agent will now be free. Registered agents responsibility to notify the entity of the resignation.
- LLC’s will not be required to obtain a Tax Clearance from Dept. of Revenue to withdrawal from the Secretary of State.
- Reinstatement period is for 5 years- not exceptions
For further information about these changes, please contact the CLASCORP™ team at 800-737-8009 or visit the attached link to read the completed session law as passed: http://lawfilesext.leg.wa.gov/biennium/2015-16/Pdf/Bills/Session%20Laws/Senate/5387.SL.pdf