Category: Uncategorized

Effective January 1, 2018

Minnesota enacted the Revised Uniform Limited Liability Act effective August 1, 2015. RULLCA  governed domestic and foreign LLCs formed or registered in Minnesota on or after the above date. Domestic and foreign LLCs registered before that date are governed by the old law until January 1, 2018. The old law is repealed effective January 1, 2018 at which time the new law will govern all LLCs.  This change is mandated by state law and requires no action by the LLC.

The SOS provides information on the upcoming change at http://www.sos.state.mn.us/business-liens/business-help/upcoming-llc-law-change/

Effective January 1, 2018

Iowa SOS will increase the fees for UCC Filings and Biennial Report Filings as follows:

• UCC Electronic Filings – the $5 fee will become $10
• UCC Paper Filings:
  • For one or two pages – the $10 fee will become $20
  • For more than two pages – the $20 fee will become $40
  • Biennial Reports Electronic Filings – the $30 fee will become $45
  • Biennial Reports Paper Filings – the $45 fee will become $60

These fee increases are scheduled to return back to the lower previous fee amounts after five years.  The additional funds raised during this time will go toward funding business technology upgrades – interfaces and systems.

On 01/01/2018, the IA SOS will update the fees listed on their website and forms.

Effective January 1, 2018

Delaware House Bill 175, Laws of 2017, has increased the following corporate franchise tax rates and amounts and statutory (business) trust fees, effective as noted below.

Franchise Tax

• Delinquency fees from $100 to $125 (January 1, 2018)
• Tax multiplier from $75 to $85 related to the authorized shares calculation (January 1, 2018)
• Tax multiplier from $350 to $400 related to the assumed par calculation (January 1, 2018)
• Minimum tax related to the assumed par calculation from $350 to $400 (January 1, 2018)
• Excepted as below, maximum tax from $180,000 to $200,000 (effective for the tax year beginning January 1, 2017)
• Creation of a new $250,000 maximum for certain publicly traded corporations effective for the tax year beginning January 1, 2017)

Statutory Trusts

• Maximum fee for filing documents from $300 to $500 (August 1, 2017)

The Bill may be accessed at http://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=25780&legislationTypeId=1&docTypeId=2&legislationName=HB175 

Effective date January 1, 2018

Tennessee Uniform Limited Partnership Act TN ULPA-2017 took effect and applies to limited partnerships formed in TN after January 1, 2018. Domestic LPs formed prior to January 1, 2018 that do not elect to be governed by the TN ULP-2017 will continue to be governed by Tennessee’s Revised Uniform Limited Partnership Act of 2001 (RULPA-2001), although any renewal of their term must be made under the new act. The TN ULPA-2017 also applies to foreign LPs that register in Tennessee after the effective date, as well as to foreign LPs that registered in TN prior to the effective date as of the due date of their next annual report.

Revised forms covering both the TN ULPA-2017 and the RULPA-2001 are being posted to the Tennessee Secretary of State’s website, and the TN SOS’s office has advised that it will stop accepting old forms.

For more information, visit https://sos-tn-gov-files.s3.amazonaws.com/forms/pc0440.pdf.

 

Susan Hogan is the owner of Green Tomato Foods, located in the State of California. Like a true entrepreneur, Susan’s Salsa started out as something she would create in her own kitchen for parties, gatherings, and gifts. Her Salsa – fresh, flavorful, and unique, immediately became a favorite of everyone.

As time progressed, requests for Susan’s Salsa turned into more than a hobby and Green Tomato Foods was born.  Susan’s Salsa was popping up on shelves in the Supermarket and Gourmet Food stores. As the owner of a growing business Susan was looking for a service company to handle her Registered Agent needs in the State of Washington.When she contacted CORPSMART™ she said she “really liked the girl that she spoke with and was impressed by her knowledge”. That girl happens to be Cheryl Westby our Registered Agent guru with 20+ years of Registered Agent experience.

Appointing a Registered Agent is a statutory requirement to do business in most states throughout the United States. A Registered Agent is responsible for receiving your important documents i.e. state notices and service of process.  At CORPSMART™ we specialize in the search, filing and retrieval of public records in the United States and abroad. Those in business know that finding the right resources when it comes to navigating the many twists and turns of State & Government Agency requirements can make the world appear rather large and daunting. Every State, County, Parish, Borough and City has their own set of rules and regulations, so picking a knowledgeable, reliable service company, such as CORPSMART™, is your best choice in making sure you are always in compliance.

Susan’s company specializes in Salsa and Cooking Sauces, and having tried them ourselves the CORPSMART™ team can say they are to die for. They come in a variety of heats and are all natural – we are particularly fond of the Mango Salsa. If this article has you drooling, visit the Green Tomato Foods website at www.greentomatofoods.com to see all of the varieties available. Susan’s Salsa is the best there is!

If you are building your own dream and want a steady partner to guide you through your corporate compliance needs, contact the CORPSMART™ team at 800-737-8012 or visit our website at www.corp-smart.com.

 

 

Effective as listed below

Delaware House Bill 175, Laws of 2017, has increased the following corporate franchise tax rates and amounts and statutory (business) trust fees, effective as noted below.

Franchise Tax

• Delinquency fees from $100 to $125 (January 1, 2018)
• Tax multiplier from $75 to $85 related to the authorized shares calculation (January 1, 2018)
• Tax multiplier from $350 to $400 related to the assumed par calculation (January 1, 2018)
• Minimum tax related to the assumed par calculation from $350 to $400 (January 1, 2018)
• Excepted as below, maximum tax from $180,000 to $200,000 (effective for the tax year beginning January 1, 2017)
• Creation of a new $250,000 maximum for certain publicly traded corporations effective for the tax year beginning January 1, 2017)

Statutory Trusts

• Maximum fee for filing documents from $300 to $500 (August 1, 2017)

For more information or assistance in filing in Nevada, contact the CORPSMART™ team at 800-737-8012.

As the retail landscape continues to grow in the direction of online sales, it is important to obtain the proper license and permits to avoid any penalties.

Examples of business licensing requirements, even you maintain online transactions:

• Specialty products to a regulated industry (i.e. medical, insurance, aerospace, etc.)
• Holding excess inventory? Zoning codes
• Doing business from home? Zoning permits
• Tax revenue licensing (obtain ein # for all businesses)
• Signage permits
• City and/or County business licensing
• Health dept. licensing
• Fire dept. permit
• Alcohol license or permit

Whether your online business is just a hobby or a your dream job, you are not exempt from maintaining corporate compliance. The requirements are varying and we are experts in handling your business licensing needs. Lean on us when you are ready to research and obtain the proper licensing to maintain your good status.

Connect with the CORPSMART™ team at 800-737-8012 to learn more about fulfilling your licensing needs.

 

2017 International Holiday Closings, by Jurisdiction

February

• 2/15/2018 – 2/21/2018 China

December

• 12/5/2017 Netherlands
• 12/25/2017 China, Spain, India
• 12/23/2017 – 1/8/2018 Australia
• 12/24/2017 – 1/2/2018 France
• 12/25/2017 – 1/2/2018 Austrialian ASIC registry
• 12/25/2017 – 12/26/2017 Hong Kong, United Kingdom, Netherlands
• Mid-December through first week of January Mexico

 

Your critical documents are time-sensitive and we get it! With First Serve we make it a priority to offer electronic delivery of your Service of Process documents.