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In Gum Way, Shape, or Form, Stick With Your Registered Agent

February is the month of love. Each year, retail stores advertise millions of heart-shaped products. Red and pink candies entice folks to spend money to show their love and appreciation for their significant other on this ‘special’ day. Sometimes the pressure is so great to create an amazing romantic evening, it can cripple the foundation of the relationship. However, those who choose to soldier on and stick with one another can make it through the rough patches and come out stronger on the other side. But unlike many types of candies, one particular sweet encompasses some of Incorporating Services, Ltd. values: chewing gum. Like gum, Incorporating Services’ matured expertise helps restore companies to good standing (protection), offer many types of services (different flavors), and flexibility when companies find themselves in hard times.

Longevity

The earliest forms of chewing gum date back to the Mayan and Aztec civilizations where gum was used to suppress thirst or fight hunger. In northern Europe inhabitants used birch bark for medicinal purposes, especially for toothaches (Nix, 2015). Like gum, Incorporating Services quells anxieties for those who may not know where to turn regarding registered agent services. Incorporating Services has been around for more than 45 years educating its employees on ever changing laws and statutes to ensure clients receive the most up-to-date information for their company.

Cures all Ails

Because of its natural properties, Southern Mexico and Central American natives used gum to heal wounds (Fiegl, 2009). Much like these prehistoric Band-Aids, Incorporating Services, Ltd. is equipped with the remedies of many ailments such as late payment of taxes, failing to file annual reports, and forgetting to re-register your boat. Our corporate division has representatives available from 8:30 a.m. to 8 p.m. EST to ensure you receive the best, quality service in the quickest amount of time. Especially now as we approach the Delaware Corporations Annual Franchise Taxes deadline, guaranteeing your filing is submitted in a timely manner and your taxes are paid in full is crucial to keeping your entity in compliance and avoiding having to pay additional monies for penalties and interest. Protecting your company from falling into a bad standing is our main priority.

Spice of Life

In 1869, Thomas Adams decided to add some flavor, specifically licorice, to chicle (earliest form of chewing gum) and doing so, would lead him to be the first to mass market chewing gum as we know it today (Bellis, 2019). Similar to flavored chewing gum, Incorporating Services, Ltd. has many services to offer its clients to satisfy different tastes. For example, we offer Independent Manager services for those who might be in need. Although not all entities require an Independent Manager, those who do need to be assured that the quality of service they are receiving is exemplary. Additionally, we offer services for boat owners. Renewing your boat registration with the Coast Guard and or Delaware Department of Natural Resources and Environmental Control (DNREC) has never been easier with Incorporating Services, Ltd. guiding you through the process.

Flexibility

Gum’s malleable form allows for adaptability into small spaces, an equal distribution of flavor(s), and flexibility under pressure. Incorporating Service, Ltd. has your company’s best interest at heart. We understand that companies sometimes fall on hard times, but we are willing to work with companies to help them maintain their good standing status. When the pressure of Annual Report filings and Tax time is at its apex, Incorporating Services’ corporate division is there to walk you through the process and even file the documents for you.

Works Cited

Bellis, M. (2019, February 15). Thomas Adams and the History of Chewing Gum. In ThoughtCo.. Retrieved from https://www.thoughtco.com/thomas-adams-and-history-of-chewing-gum-4075422

Fiegl, A. (2009, June 16). A Brief History of Chewing Gum. In Smithsonian.com. Retrieved from https://www.smithsonianmag.com/arts-culture/a-brief-history-of-chewing-gum-61020195

Nix, E. (2015, February 13). Chew on This: The History of Gum. In History. Retrieved from https://www.history.com/news/chew-on-this-the-history-of-gum/

Amanda Archambault, Registered Agent Associate

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Jurisdictional Closures for March 2019

Please see the list below for Jurisdictional Closures for March.  Dates and information are subject to change.

Date:                 Holiday:                                                           State:

Mar 5th             Mardi Gras Day                                              AL (Baldwin & Mobile Counties Only), LA

Mar 5th             Town Meeting Day                                         VT

Mar 25th           Seward’s Day                                                  AKclosures office closed

Mar 26th           Prince Jonah Kuhio Kalanianaole Day       HI

Please check out our blog posts throughout the month for any last minute changes or updates from these or any other state or local office.

If you have any questions or need assistance, feel free to contact us at 800-346-4646 or via email at info@incserv.com.

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DE Annual Report & Franchise Tax-The Buzz! Pt 3

Part three of our Delaware Annual Report & Franchise Tax Series will answer questions about the deadline for filing. If this happens to be the first blog you’re seeing in the series, click here to start from the beginning.

The Delaware annual report for all domestic corporations is due on or before March 1.

What happens if I miss the deadline for filing my corporation’s Delaware annual report and paying the franchise tax?

 A penalty fee of $200 will be added if the annual report is not filed by the due date. In addition, 1.5% interest is assessed and added to the total amount due. The 1.5% interest is calculated based only on the total franchise tax due and does not include the annual report fee and penalty. Interest is continually accrued on the 6th of each month until the franchise tax is paid or the entity goes into an inactive status.

What if I have not filed Delaware annual reports for two consecutive years?

The State will declare the company void.  The company will not be in good standing and will need to pay all applicable fees.  A reinstatement will need to be filed in order to bring it back into good standing.  If Incserv is the registered agent, a resignation will most likely be filed prior to March 1, which will place the company into a forfeited status.  Again, all applicable fees and the pertinent filing will need to be completed in order to reinstate to good standing.

Annual Report iStock 812642716What do I do if I made a mistake on my Delaware annual report filing?

An amendment may be filed, but it must be filed before a subsequent report is filed. For example if you made a mistake on the 2017 report, the 2017 report must be amended before the 2018 report is filed. Otherwise the 2017 record will stand as is.  A $50 fee will need to be paid for any amended annual report filed after July 31, 2019

If you have any questions about or need assistance with filing a Delaware annual report or paying Delaware franchise tax, feel free to reach out to us. We’re here to help!

Rose Redman, Quality Assurance and Employee Development Manager

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DE Annual Report & Franchise Tax-The Buzz! Pt 2

Frequently Asked Questions – DE Annual Report

In today’s Delaware Annual Report & Franchise Tax – The Buzz!, we would like to offer you answers to frequently asked questions you may have while filing your Delaware Annual Report.  If you happen to have missed part one of our blog series, click here to view.

Q.  Where do I find my Gross Assets?

A.  The Delaware Annual Report requires your company’s entire Gross Assets as reported to the IRS on your Federal 1120, Schedule L form. If you haven’t filed your Federal Taxes yet, please refer to your Balance Sheet for your most recent information on your gross assets.  If you have an accountant or tax service handle this for you, please ask them for the most up to date information.  If you used Snapshot™ last year to file your report and nothing has changed, this information will still be available for your reference.Annual Report iStock 812642716

Q. What if my Gross Assets change after I file my Delaware annual report; shouldn’t I wait to file when it is finalized?

A.  You can file an amended Annual Report with the State of Delaware if you need to make a change, rather than filing your report late to wait for the finalized amounts. Filing late incurs both a penalty of $200 as well as interest of 1.5% per month on the unpaid tax amount.

Q. Where do I find my Issued Shares?

A.  The State of Delaware has record of your Authorized Shares and Par Value, however, Issued Shares are not public information. The shares your company has issued should be recorded on a company held stock ledger found in your corporate minute book.  If you have a CPA or Attorney handle these matters for you, please ask them for the current amounts.  If you’ve used Snapshot™ last year to file your report and nothing has changed, this information will still be available for your reference.

Q. My company didn’t do any business during part of 2018; can I enter those Inactive dates in the space provided?

A.  The Inactive dates on the report refer only to a portion of the year in which a company was potentially Inactive within the records of the Secretary of State. If you had to file a renewal or reinstatement during the calendar year of 2018 then this may apply to your company (please call or email us to provide you with the dates.)  Otherwise this does not likely apply to your company.  If your company is no longer doing business, but you have not filed a dissolution with Delaware, your company will continue to be required to file a Delaware Annual Report until this is filed; please call or email us if you feel you need to dissolve.

Q. My company never began doing business; do I still owe this report and fee?

A.  As long as the company is Active with the State of Delaware, it will owe a Delaware Annual Report and franchise tax each year. The report fees are based on the Authorized Shares as outlined in the charter documents filed with Delaware.  If the company is minimum stock then the minimum tax will be due ($225 which includes the report filing fee.)   If you feel you should dissolve the company because it will not do business in the future, please contact us to ask about dissolving.

Q. My Principal Place of Business is outside the U.S.; how do I enter this?

A.  There is a check box on the Annual Report for a “Non-US Address”. By checking this box and choosing the country, the report will format correctly to accept the address and allow the report to submit properly.

Q. Why am I receiving an error when attempting to submit my report through Snapshot™?

A.  Be sure and enable your pop-up blocker for our site when filing. If you still experience trouble, please let us know.

Lucy Rose, Project Manager, Product Research and Development