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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....

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8 Steps to Forming a Business Entity

Congratulations! You have decided to start a business and embrace your entrepreneurial spirit. Forming a business entity does not have to be intimidating or complicated. We can help. We have broken down the formation process into eight simple steps and given you some food for thought. Choose a Name and Check to see if it is available Before registering your business, please check your name availability with the state in which you are registering. Each state has unique rules regarding naming and may or may not accept variations of business names. Check the Domain Name Your company’s domain...

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Delaware Section 502 Principal Place of Business Compliance

Effective August 1, 2022, Delaware amended the General Corporation Law of the State of Delaware (“DGCL”), affecting several provisions. The State of Delaware is enforcing Delaware Title Code 8. Del.C Sec 502 (a)(3) for the 2022 Annual Report tax year.  Companies are now prohibited from using a registered agent's address as their principal place of business.  If your entity has done this in the past, then an Amended Annual Report to change to your physical address must be completed at once.  What is Section 502? Section 502 clarifies that unless a corporation maintains its principal place...

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