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Annual Reports

Welcome to our blog and news page. You will find articles, informational notices, and a video here. Still looking for some help? Contact us and tell us what you need!

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New Entrepreneur Checklist When Forming a New Business

New Entrepreneur Checklist When Forming a New Business

Starting a new business is exciting as you pursue your passions and establish a company that supports your dreams. However, it can be overwhelming to navigate the legal and administrative tasks necessary to ensure proper formation and protection.  We have created a simple checklist to walk you through the basic steps of making your business official. While this is not a substitute for legal or tax advice, we hope this mini-guide will help you understand what needs to happen and provide some education so you can best discuss with your professional advisors. Choosing The Right Business...

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Leading Myths About Registered Agents: Facts Your Business Should Understand

Leading Myths About Registered Agents: Facts Your Business Should Understand

Misunderstandings about registered agents can put businesses at unnecessary risk and create confusion. Whether you think any address will work for the registered agent, believe the agent has extra authority, or assume only large companies need one, these myths could cost your business time, privacy, and crucial legal protection. (PS, your registered agent can also assist with filing your annual reports and monitor the due dates when managing multiple entities across multiple states, providing peace of mind!) Let’s begin: What is a registered agent? A registered agent is an individual or...

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Delaware Franchise Tax Explained: What Every Business Entity Needs to Know

Delaware Franchise Tax Explained: What Every Business Entity Needs to Know

Choosing Delaware as the home for your business entity comes with a unique set of tax obligations; most importantly, the Delaware Franchise Tax. Whether your company operates within the state or elsewhere, if your LLC, LP, or GP is formed in Delaware, you must pay this fee to maintain your corporate status. Understanding how Delaware Franchise Tax works, who it applies to, and how it’s calculated is essential for staying compliant, avoiding penalties, and ensuring your business remains in good standing with the state of Delaware. What is Delaware Franchise Tax? All Delaware Limited Liability...

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How to Correct Involuntary Dissolution & Prevention Strategies

How to Correct Involuntary Dissolution & Prevention Strategies

Involuntary dissolution occurs when corporations fail to meet mandatory annual compliance requirements necessary to maintain good standing with state filing offices. These requirements typically include filing annual reports, paying franchise taxes, and maintaining a registered agent. Failure to fulfill these obligations triggers administrative penalties that might escalate to formal dissolution. This action effectively terminates the corporation's legal existence and exposes stakeholders to significant liability risks. Understanding these compliance requirements is the first critical step...

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What You Should Know About New Mexico, the 47th State

What you should know about New Mexico, the 47th state.

New Mexico’s official nickname is the Land of Enchantment, and it perfectly captures the state’s mystical allure. The vast, open skies, dramatic sunsets, and historical sites create a deep connection to the earth and history. New Mexico is steeped in history, from ancient Native American civilizations to Spanish colonization. Historic towns like Albuquerque and Santa Fe feature adobe architecture, old missions, and centuries-old traditions. Cities like Santa Fe and Taos are known as creative hubs, with many galleries and festivals that showcase the state’s artistic heritage. Five Fun Facts...

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Essential Compliance Tips for Newly Formed Corporations

Essential Compliance Tips for Newly Formed Corporations

Navigating essential compliance can be a daunting task for new business owners. This blog post sheds light on the essential legal obligations required to maintain a corporate entity, touching on everything from state and federal regulations to annual filings, tax responsibilities, and corporate governance practices. While we are not attorneys or accountants, our years of experience equip us with insights that we believe will be invaluable to you. Our goal is to assist in keeping your business not only operational but also in excellent standing. However, it's important to remember that...

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Crossing State Lines: Navigating Foreign Qualifications

Navigating foreign qualifications is crucial for growing your business across state lines.

Navigating foreign qualifications is crucial for growing your business across state lines. This phase can be thrilling, yet without clear guidance, it might also become bewildering and taxing. What strategies should you employ to broaden your business's reach into new regions?  What is a foreign qualification? When starting a business, a domestic entity is created where the owner(s)/member(s) lives, where most of the business is conducted, and where the initial site is physically located. The process is called a foreign qualification when a business expands to another or multiple states. A...

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The Importance of Filing Your Delaware Annual Report

Delaware expedited corporate filings

Delaware Annual Reports and Franchise Taxes are due March 1st for all active Domestic Corporations. Failure to file the report and pay the required franchise taxes will result in a penalty of $200.00 plus 1.5% interest per month on tax and penalty. It is imperative that the Annual Report is completed timely. What is a Delaware Annual Report? The Delaware Annual Report for Domestic Corporations is a document containing business information and is filed along with the franchise taxes due each year. The entity does not have to be physically in Delaware or doing business in the state. What...

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