Author: ramon

Credit reporting agencies to exclude information from credit reports including tax lien and civil judgment data that is important to you. Visit the following links to read more and contact the CORPSMART™ team at 800-737-8009 to inquire about our lien searching services.

FORBES – Credit Scores Will Improve as Credit Reports Exclude Negative Information

CONSUMERIST – Credit Reports Soon Won’t Include Some Tax Lien, Civil Judgment Data

USA TODAY – Consumer Credit Scores to Exclude Some Debts, Liens Starting July 1

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.

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.

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.

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.

Independence Day Office Closures // July 4th, 2017

On Tuesday, July 4th 2017 all state, government and CORPSMART™ offices will be closed in observance of Independence Day. CORPSMART™ will operate business as usual on Monday, July 3rd, take a brief break for the holiday and resume business as usual on July 5th, 2017. Please make sure to consider these closures in advance to avoid disappointment with all time sensitive business filings.

From everyone at CORPSMART™, we wish you a fun and safe holiday!

UPDATE TO POTENTIAL SHUTDOWN WITH WA STATE AGENCIES

The Washington State Legislature has not yet approved state operating and capital budgets for the 2017–19 biennium, which begins July 1. If the Legislature does not approve budgets by June 30, several state agencies will go through full or partial operations shutdowns. In the event of a shutdown, the DOL will suspend programs at the department for Uniform Commercial Code until the 2017-19 budgets are approved. In the event of a shutdown, please review the following information to avoid any disruptions in your business transactions:

Corporations Division

• All filing services at the Corporations Division should continue uninterrupted.
• The Division may not be able to issue UBI numbers on new registrations/originations.
• Data recorded in the Division may not transfer to other agencies such as the Department of Revenue or BLS leaving business records “not up to date” outside of the Division’s  database.
• The Division may have limited access to Annual Report information filed or pending at BLS (reducing ability to fix errors).

Business Licensing and UCC Services

• Online services will shut down on June 27 at 11:55 PM.
• Annual Reports can still be mailed in but will not be processed until resolution of any shutdown.  As an alternative, the Corporations Division will accept and process ALL Annual Reports if a shutdown were to occur.  However, this may be subject to the collateral issues specified above as well as possibly others.
• Licenses, Legal Entity Registrations, renewal notices, and other miscellaneous documents processed before shutdown will be mailed out.  Documents received, but not processed, before the shutdown will be delayed until the shutdown is resolved.  It is unclear whether the file-date for such delayed filings will be the date of submission or the date of processing.
• Of particular interest, the BLS handles Business Corporation and LLC Annual Reports/License Renewals and Trade (Assumed) Name filings.

Contact the CORPSMART team directly at 800-737-8009 for additional information or to submit your filing.

The Washington State Legislature has not yet approved state operating and capital budgets for the 2017–19 biennium, which begins July 1. If the Legislature does not approve budgets by June 30, several state agencies will go through full or partial operations shutdowns. In the event of a shutdown, the DOL will suspend programs at the department for Uniform Commercial Code until the 2017-19 budgets are approved.

How to prepare:
If you have filings to submit, we recommend filing right away to avoid any delays. Contact the CORPSMART™ team today to learn more or place a request.

July 2017

With Alaska facing a government shutdown in early July that could effect your filings. In the event of a government shutdown, no filings will be accepted or processed until budgetary issues are resolved. We are encouraging our clients to be aware of this when working on AK projects that require filings or any retrieval work.