Oregon Business Entity Law

 

Effective July 1, 2017 // Becomes operative January 1, 2018

Oregon House Bill 2191 authorizes Secretary of State to investigate alleged or potential violations of business entity statutes and to require business entity to provide list of shareholders and respond to interrogatories. Permits Secretary of State to impose penalties, cancel or revoke incorporation or dissolve business entity that violates statutes or fails to cooperate with investigation. Permits Department of Revenue to recommend dissolution of business entity that fails to comply with tax laws of state, but not if department has allowed appeal of business entity’s tax liability or if appeal is pending. Subjects directors, officers, employees, members and managers of shell entity to claim for damages from person that suffers ascertainable loss of money or property resulting from knowing dissemination of materially false statement concerning certain aspects of shell entity’s finances and operations. Specifies information concerning street address of business entity and name and address of director, controlling shareholder, member or manager that must appear in articles of incorporation or articles of organization for business entity. Permits court to dissolve business entity that court finds was shell entity that was used, incorporated or organized for illegal purpose, to defraud or deceive another person or to conceal business activity from another person or governmental agency. Permits Attorney General to bring action for dissolution and specifies elements of prima facie showing. Specifies effects of finding that business entity is shell entity. Specifies that principal office of business entity incorporated or organized in this state or authorized to transact business in this state must have physical street address that may not be commercial mail receiving agency, mail forwarding business or virtual office. Permits department to disclose certain information from taxpayer return to Secretary of State for purposes of initiating or supporting recommendation for administrative dissolution of business entity that fails to comply with applicable tax laws of state. Becomes operative January 1, 2018. Declares emergency, effective July 1, 2017.

Proposed Changes to North Carolina Annual Report Requirements

 

Status: In session 2017 – 2018

North Carolina S114 Act to revise the laws governing the submission of annual reports by various business entities to the secretary of state; conforming the treatment of leasehold interests in exempt property to that of other types of intangible personal property for purposes of the property tax; and creating the criminal code recodification commission. House Bill 5647 and Senate Bill 618, amend the nonprofit corporation law by substituting the supporting document to be filed upon foreign qualification froma copy of the corporation’s charter to a status certificate (e.g. Certificate of Existence).

Stay connected with the CORPSMART™ team to get the latest news regarding your Annual Report filing requirements in NC.

Step 1 of the Business Cycle: Starting a New Entity

Are you ready to turn your daydream into a career? If you are you interested in going into business make sure to follow our guidelines to start your business on the right foot and stay tuned to learn about growing and stay compliant in all of your statutory business transactions.

Tips for forming a new entity

  • Obtain State IDs
  • Appoint Registered Agent
  • Conduct Name Availability Check
  • File Name Reservation/Registration
  • File Articles of Incorporation or Articles of Organization
  • Apply for Business Licenses and Permits
  • File Assumed Name of DBA Certificate
  • File for Trademark Protection
  • Apply for Employer Identification Number from the IRS
  • Order your Corporate Records Kit
  • Register your Domain
  • Publication in Newspaper (if required by state)

When it comes time to form your entity, you can trust the experts at CORPSMART™ to walk you through the process. We will handle the formation with ease and act as a source for your business compliance needs throughout the life of your business. Contact the CORPSMART™ team at 800-737-8009 or via email at orders@corp-smart.com.

UCC Due Diligence Guideline

There are many pieces to the puzzle when it comes to fulfilling all of your pre and post closing due diligence. If you a banker or attorney working on closing a financing deal, utilize our UCC Due Diligence Guideline as a checklist to ensure that you’re fulfilling the full spectrum of due diligence requirements and contact the CORPSMART™ team with further questions at 800-737-8009.