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Team Member Spotlight: Rhonda Wilkins

At Incserv, our people are what make the difference – and we’re excited to introduce the folks that make this place special. Each quarter, we profile an Incserv team member, sharing a little bit about what they do, how they got here and what matters to them outside the world of incorporating services. In this installment, we sit down with client services representative, Rhonda Wilkins. Enjoy!

 

Thanks for taking the time to chat, Rhonda. Let’s start with a little bit about your role at Incserv. Let’s start with the obvious! When did you start working at Incserv and tell us about your position?

Thanks! So, I started working at Incserv in April 2022. I’m a Client Services Representative for the Corporate Division. 

What is the corporate division focused on? 

It’s a little bit of everything. I help with filings not only for Delaware, but jurisdictions nationwide. So it could be anything from EIN filings, company formations and qualification documents to nationwide document retrieval, beneficial ownership information report filings and document preparation such as affidavits and incumbencies. Each day it’s a little different! 

Sounds like you appreciate the variety.

I do. It keeps the job interesting! Every email, every phone call… They all have different asks from our clients.

Anything new and exciting that you could tell us about?

There is a new requirement from the Financial Crimes Enforcement Network that recently went into effect on January 1, 2024. It’s related to beneficial ownership reporting and virtually every entity in the United States has to comply with it. Our team is tasked to reach out to all clients and help them with their beneficial ownership reporting. This is all being done to help stop fraud and money laundering. It’s designed to help prevent terrorism funding and strengthen national security.

That sounds like a massive undertaking.

It is. We started by creating a whole new email system to help organize the federal request. We then reached out via email to all of our clients with the task of providing the names and beneficiaries of their companies through an intake form. We can either do it for them, or they can submit on their own. It can get complicated so I’m there to answer questions, provide support and help them through the process. 

Even though it seems like a tedious job, I like it. It’s the same for when you are doing a large filing for a client. There could be several documents in several states. This one is done, this one has an issue…it keeps you focused and alert!

Tell me about your team. How many people do you work with on a daily basis? 

There are about 10 of us in the corporate division. Some process large, multi-state filing requests and others are focused solely on Delaware. I do a little of everything!

That’s the truth. Talk to me about the Incserv company culture.

Incserv has a great office atmosphere. Everyone here gets along and works together and helps each other out. It’s refreshing. I’ve worked at other offices the environment was very draining. Here, I’ve never felt like that. 

Well, we’ve talked a lot about work. What about your free time? Favorite things to do? 

I work another job on the weekends so I don’t have much free time. But when I do I spend time with my boyfriend, Michael, and our dog Ricky by trying new wineries and breweries in the area. We also really like going to car shows.

rhonda

Car shows? Say more.

It started in 2020 when I got my car, a Lexus IS 300. Michael and I go to local shows in Virginia, Maryland, and Pennsylvania. It’s mostly walking around to other cars and vendors and talking with the other owners about the car details. It’s something fun that we love to do together!

That’s great, Rhonda. Appreciate your time!

 

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Team Member Spotlight: Justin Roper

At Incserv, our people are what make the difference – and we’re excited to introduce the folks that make this place special. Each quarter, we profile an Incserv team member, sharing a little bit about what they do, how they got here and what matters to them outside the world of incorporating services. In this installment, we sit down with legal service specialist – and military veteran – Justin Roper. Enjoy!

justin roper

Justin, thanks for taking the time to chat. Let’s start with your role at Incserv. What’s your role and when did you start? 

Sure thing. I started at IncServ in July of 2022. I work in the SOP division (Service of Process). It’s a form of data entry with a big emphasis on detail. We make sure all legal documents are accurate. 

And what is it that you really enjoy about the position? 

As I mentioned, there’s a requirement for attention to detail. It’s a very fast paced environment and the days fly by. This past May I started in the accounting department of SOP which I have been pleasantly surprised with! Definitely different from my previous career. 

That’s right! You served in the U.S. military. With Veteran’s Day right around this corner, thank you for your service! So, military to accounting. That’s a pretty big jump!

Well, thank you! I appreciate that. And, yes… a very big jump!

How did you make it?

Well, oddly enough at a music bingo night with my wife.

You’re going to have to explain this in a bit more detail!

My wife and I like to enjoy music bingo at a local restaurant. Over time, I got to chatting with Casey Pineda, Incserv’s legal services division lead. She described her work and mentioned that they were hiring. This was about the same time I was looking to retire from the military. The timing was perfect so I jumped at the opportunity. I put together my first resume, interviewed, and got the position. 

That’s a pretty incredible story. I suppose you can network anywhere! So, any similarities between the two careers?

In the military, it’s a very large operation but a very small community at the same time. Over the course of time, you seem to run into the same people. At Incserv, it’s a small community which I really like. You quickly get to know everyone. Being new to the position, everyone has been very welcoming and helpful.

Can you tell us a little about your military career?

Sure. I worked as an aircraft mechanic for the U.S. Air Force. I retired in September of 2022 after 20 years of service. 

Wow! I’m sure that job took you to different places in the world. Any favorites? 

Yes, I’ve been all over the world. Guam makes the top of the list. So do Alaska, Japan and Vietnam.

Incredible! Now, I know you love a good music bingo night. Any other things you enjoy during your free time? 

I enjoy spending time with my family – my wife and four children. They keep us busy! My oldest just started at University of Delaware. I enjoy playing video games and we like to get down to Disney when we can!

Sounds great, Justin. I appreciate your time. Thanks so much and I wish you the best of luck!

Thank you!

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Team Member Spotlight: Rosa Allen

At Incserv, our people are what make the difference – and we’re excited to introduce the folks that make this place special. Each quarter, we profile an Incserv team member, sharing a little bit about what they do, how they got here and what matters to them outside the world of incorporating services. In this installment, we sit down with compliance division associate, Rosa Allen. Enjoy!

 

rosa allen

 

Thanks for taking the time to chat, Rosa. Let’s jump right in! Tell us a little about your role at Incserv and what you do? 

I work in our compliance division. I communicate with our clients and file annual reports, working closely with the Delaware Secretary of State and Division of Corporations. We interact with a lot of people day in and day out. No day is the same and I love that.

And how did you get into compliance? 

It wasn’t exactly a straight line! I was previously in the culinary arts field. I prefer ‘art’ versus food services because at my core I’m an artist. More on that later! Before Incserv, I worked for Aramark for over 11 years. I worked my way up from a prep cook to an Assistant Food Services Director. I was even inducted into the company’s ‘Ring of Stars.’

My experience at Aramark presented me with a challenge to understand the business aspect behind culinary arts. The office work – things like budget planning, meeting prep, paperwork – helped set a foundation for a love of problem solving and organization. Those skills are a necessity within our compliance department.

That’s an unexpected career switch! How did you find Incserv? 

I saw a listing on Indeed. I had really amazing first interviews with both Stacey and Rose. The rest is history. 

How long have you been working for Incserv? 

It’s been almost a year and a half now! Which is crazy to think about. I just love my job, and the team I work with.

What do you like most about it? 

Every day and even every season is a little different. January through June is extremely high-paced. Everything is coming at you, in a good way! I’m a very detail-oriented person and I love to use my time management skills and really focus on gathering and collecting information. I come from working in a high stress job so this is sort of second nature for me. Just in a new setting, of course. I love having the opportunity to talk with people all over the country. CEOs. CFOs. Large companies. Small companies. It’s exciting. You feel like an extension of their company and I love partnering with them. I also love that I can incorporate my creativity – especially when it comes to solving unique challenges.

That’s right. You mentioned being an artist at your core. What’s that about?

I love art! I write, draw, and even face paint. Being an artist is something I incorporated as a side gig with my company, A Koolinary Experience. Our culinary art spreads were even featured in Mingle Magazine in 2019 which was very exciting! I also love to spend time with my family. We enjoy movie nights; even partaking in the Alice in Wonderland Adventures and dressing up in costume.

Love it. Rosa, it was a pleasure getting to know you and what you do for Incserv. Keep up the great work!

Thank you!

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Delaware Division of Corporations Updates: June 2023

Delaware shutterstock 102603476

 

This month, the Delaware Division of Corporations announced a number of updates relevant to corporate, compliance and registered agent services. Highlights include: 

 

  • No more 24-hour swap. As of Monday, June 12, the state has stopped and will no longer honor the “24-hour swap,” a policy that allowed for filed documents to be edited or changed within 24 hours of submission. Instead, a formal Certificate of Correction will be required. This applies to all entity types and all expedite levels.

 

  • Fees are increasing for new formations. The Delaware House and Senate have passed SB110 which increases the courthouse municipality fee portion of the filing fees assessed on all LLC and corporate filings from $20 to $40. The bill is expected to be signed by the Governor. August 1, 2023, is the expected effective date. The fees for LP filings are not affected.

 

  • Usage of registered agent address for annual reports. Corporations are not permitted to use the address of their Registered Agent when filing annual reports. In the coming months, the state will suspend all annual reports that appear to be using the agent as the primary place of business, and alert the agent. The state will give suspended entities 45 days to file a correction or appeal the suspension. After 45 days, entities will cease good standing. Responsible agents will alert their customers if their entity is suspended. Please reach out to us if you are concerned about this issue.

 

  • Corporate Transparency Act updates. While FinCEN is planning to roll out the beneficial owner requirements of the Corporate Transparency Act on January 1, 2024, there are still some major hurdles to overcome. Many terms are still not clearly defined, the database is still not built, and filing instructions and other educational materials have not been developed. This is a space we’re monitoring closely. Don’t hesitate to reach out with any questions.

 

For updates delivered to your inbox, subscribe to Incserv E-Alerts.

 

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Corporate Filing Cut Off Times Reference Guide

At Incserv, we know time is of the essence — especially when it comes to corporate filings. That’s why we put together a handy Cut Off Times Reference Guide that covers the 10 jurisdictions where we see the highest filing volume. But remember! We provide business services in all 50 states, Washington, D.C. and even international jurisdictions.

Grab your copy below!

 

cutoff times guide

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Team Member Spotlight: Aryn Taylor

At Incserv, our people are what make the difference – and we’re excited to introduce the folks that make this place special. Each quarter, we’ll profile an Incserv team member, sharing a little bit about what they do, how they got here and what matters to them outside the world of incorporating services. In this installment, we sit down with registered agent specialist, Aryn Taylor.

 

Appreciate you taking the time, Aryn. Let’s hear about what you do at Incserv.

Happy to. So I’ve been with Incserv for a little more than two years now. I’m a registered agent (RA) specialist. For the last six months or so, I’ve been focused on our RA services, pulling reports from the state [of Delaware], auditing them against what’s in our system and making sure everything is accurate. It’s a lot of fact finding, but I really like it. It’s a lot of fun. 

Where were you prior to Incserv? 

I was actually in Connecticut. I moved down here in 2021. I was really drawn to the change of pace. Instead of living in what is essentially New York City extended, you get a minute to breathe here. 

Headshot scaled

And workwise, it was pretty much a 180. Before I found Incserv, I was in healthcare for 

both humans and animals. I worked two jobs, one at Quest Diagnostics, the other in a 24-hour emergency animal hospital. But there

was a lot that applies to the work I’m doing now. All three are fast-paced environments and data intense.

And so how’d you find Incserv? 

Sort of by accident, I guess! I saw the role on Indeed, thought it sounded interesting and applied. [Incserv president] Stacey [Melnick] reached out and here we are.

How about outside of the office? 

I’m definitely a homebody, but I have lots of creative interests. Back in Connecticut, my sisters and I would submit works to Stamford Downtown’s “Art in Public Places” initiative. One year it was horses, another it was dinosaurs. Another was pianos. My piano was titled “Sound of Color.” I’m also a published author and am currently working on a fantasy series. 

 

sound of color

 

That’s awesome. Does any of that tie back to your work at Incserv? 

You’d think not, but getting creative is a big part of my job and who we are as a company. We’re always working to solve challenges, and more often than not, that requires new ideas. 

Well said, Aryn. Thanks again for taking the time to chat. 

Absolutely!

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Team Member Spotlight: Zvjezdana Sijan

At Incserv, our people are what make the difference. And as we push further into 2023, we’re excited to introduce the folks that make this place special. Each quarter, we’ll profile an Incserv team member, sharing a little bit about what they do, how they got here and what matters to them outside the world of incorporating services. First up, senior client services representative, Zvjezdana Sijan.

Zvjezdana SijanZvjezdana! Thank you for your willingness to be the subject of our first team member spotlight. Let’s dig in. Tell us your Incserv story. 

Someone had to be first. I’m happy to do it. My Incserv story started almost 19 years ago, but I came to the United States in 1991, from Croatia along with my husband of 36 years. First I was in Chicago. Then up to Wisconsin. And by 1998, here in Delaware. While I had worked in the banking industry  in Croatia, I ended up finding an opportunity with CorpAmerica Inc. where I learned about this business from the ground up. It was there that I also met [Incserv vice president,] Rose [Redman and a few other coworkers]. In 2004, I made the move to Incserv. 

Talk to us a little about your role here.

The biggest part of my job is monitoring, assigning and processing all the work that comes in, which means any type of corporate filings, UCC filing, searches or document retrieval. This doesn’t include just Delaware, but all 50 states and international jurisdictions as well. Our clients value accuracy and efficiency. That’s what I focus on every day.

Do you like it?

I do. It’s fast paced. Everyday I learn something new. And I appreciate the flexibility the company provides and how family-oriented we are. If you needed to pick up a sick child from school? No problem. I started as a sort of part-time employee  when my kids were little and in school.

Guessing they’re not so little anymore?

No! My son is 26 and working towards his teaching degree. My daughter is 22 and works for a healthcare IT software company. 

Outside of work, how do you spend your time?

I love the summer, spending time by the pool, on a friend’s boat or at the beach.

Oh? Dewey? Rehoboth? 

Not exactly. I am from Croatia. I grew up spending time in the Adriatic where there are crystal blue waters. My family still has a house there on Pag, one of Croatia’s coastal islands. It’s beautiful. It’s about three hours from Zagreb, the capital. We make an effort to visit every year. 

 

pag

Pag, Croatia (CreativeCommons)

 

But we love it here too. We visit Lewes every time we can. We like to bike with our friends, especially riding to Big Oyster for a quick lunch and a few beers.

And we cook. Lots of traditional Croatian dishes. Grilled meats. Pastas, pizzas. 

That sounds delightful. 

It is. 

Well, Zvjezdana, we appreciate your time. Thanks for being interviewee number one. 

Nema na čemu!

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Delaware Annual Report & Franchise Tax – Help! Part Six

Today we close out our six-part Delaware Annual Report & Franchise Tax Series. If this happens to be the first blog you’re seeing in the series, click here to start from the beginning. We’ve covered the basics pertaining to filing a Delaware corporation annual report and paying Delaware franchise taxes. Now for a few of the “special case” scenarios…Delaware annual report delaware 173x300

I understand the assumed par value method of Delaware franchise tax calculation, but what happens if a stock amendment was filed during the year? If an amendment changing your stock or par value was filed with the Delaware Division of Corporations during the year, issued shares and total gross assets within 30 days of the amendment must be given for each portion of the year during which each distinct authorized amount of capital stock or par value was in effect.  The tax is then prorated for each portion of the year dividing the number of days the stock/par value was in effect by 365 days (366 leap year), then multiplying this result by the tax calculated for that portion of the year.  The total tax for the year is the sum of all the prorated taxes for each portion of the year.

Is a Delaware corporation that is ending its existence or reinstating required to file an annual report or pay franchise taxes? Yes, when a Delaware corporation is ending their existence or reinstating to return the entity to good standing, the corporation is required by law to file an annual report and pay any and all franchise tax due. If you’re handling the process on your own, you will need to reach out to the Franchise Tax Section of the Delaware Division of Corporations prior to submitting your Renewal, Merger, Dissolution, Conversion or any other document filing that will end the existence or renew the status of your Delaware corporation in order to determine the final franchise tax fees and annual report filing requirements. If you’re working with a service provider, such as us, we can handle this part for you.

What happens if I miss the deadline for filing my corporation’s Delaware annual report and paying my Delaware franchise tax? A penalty fee 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 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 2016 report, the 2016 report must be amended before the 2017 report is filed. Otherwise the 2016 record will stand as is.

This wraps up our Delaware Annual Report & Franchise Tax Series. However, 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!

 

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Delaware Annual Report & Franchise Tax – Help! Part Five

Part Five of our Delaware Annual Report & Franchise Tax Series brings us to the assumed par value method for calculating Delaware franchise tax delaware 173x300Delaware franchise tax. As we previously mentioned, franchise taxes are an annual fee paid to the State of Delaware Division of Corporations for your entity. There are two options for calculating the franchise tax amount due. There is the authorized shares method and the assumed par value method. Entities with a large number of shares carrying a low par value often times opt for the latter method of Delaware franchise tax calculation.

Per the Delaware Secretary of State Division of Corporations:
To use the assumed par value method to calculate Delaware franchise tax, “you must give figures for all issued shares (including treasury shares) and total gross assets in the spaces provided in your Annual Franchise Tax Report.  Total Gross Assets shall be those “total assets” reported on the U.S. Form 1120, Schedule L (Federal Return) relative to the company’s fiscal year ending the calendar year of the report.  The tax rate under this method is $350.00 per million or portion of a million.  If the assumed par value capital is less than $1,000,000, the tax is calculated by dividing the assumed par value capital by $1,000,000 then multiplying that result by $350.00.”

The example cited below is for a corporation having 1,000,000 shares of stock with a par value of $1.00 and 250,000 shares of stock with a par value of $5.00, gross assets of $1,000,000.00 and issued shares totaling 485,000.

  1. Divide your total gross assets by your total issued shares carrying to 6 decimal places.  The result is your “assumed par”.
    Example: $1,000,000 assets, 485,000 issued shares = $2.061856 assumed par.
  2. Multiply the assumed par by the number of authorized shares having a par value of less than the assumed par. Example: $2.061856 assumed par s 1,000,000 shares = $2,061,856.
  3. Multiply the number of authorized shares with a par value greater than the assumed par by their respective par value.
    Example: 250,000 shares s $5.00 par value = $1,250,000
  4. Add the results of #2 and #3 above.  The result is your assumed par value capital.
    Example:  $2,061,856 plus $1,250,000 = $3,311 956 assumed par value capital.
  5. Figure your tax by dividing the assumed par value capital, rounded up to the next million if it is over $1,000,000, by 1,000,000 and then multiply by $350.00.
    Example: 4 x $350.00 = $1,400.00
  6. The minimum tax for the Assumed Par Value Capital Method of calculation is $350.00.

Be sure to check back next week for the final blog in the Delaware Annual Report & Franchise Tax Series. In the meantime, feel free to reach out to us if you have any questions or need assistance with filing a Delaware annual report or paying Delaware franchise tax. We’re here to help!

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Delaware Annual Report & Franchise Tax – Help! Part Four

Today, in Part Four of our Delaware Annual Report & Franchise Tax Series, we start to break down Delaware franchise taxes. As weDelaware franchise tax delaware 173x300 previously mentioned, franchise taxes are an annual fee paid to the State of Delaware Division of Corporations for your entity. For corporations, the franchise tax fee is based on authorized shares, but for alternative entities, such as a limited liability company, the fee is a flat rate. Most Delaware entities are required to pay a franchise tax.  The Delaware franchise tax fee is in addition to the $50 state fee to file a Corporation Delaware annual report.

For entities using the authorized shares method of Delaware franchise tax calculation, the fees break down as follows:

  • $175 minimum tax for corporations with 5,000 shares or less.
  • $350 minimum tax for corporations with 5,001 -10,000 shares
  • Each additional 10,000 shares or portion thereof adds $75.00..
  • $200,000 maximum tax. (This is an increase from the previous maximum tax rate of $180,000.)

Examples:  A corporation with 10,005 shares authorized will pay $325.00. $250.00 + $75.00. A corporation with 100,000 shares authorized pays $925.00. $250.00 +  675.00 ($75.00 x 9)

Corporations that owe $5,000 or more in Delaware franchise taxes make estimated payments. The schedule for estimated franchise tax payments breaks down quarterly:

  • June 1st – 40% of total tax due
  • September 1st – 20% of total tax due
  • December 1st – 20% of total tax paid is due
  • March 1st – remainder of tax is due

Be sure to check back weekly or subscribe to the blog to follow along with the series. If you’re new to the Delaware Annual Report & Franchise Tax Series, click the hyperlink to start from the beginning. Next week we will cover the assumed par value method for calculating Delaware franchise taxes. As always, if you have a question in the meantime, feel free to reach out to us. We’d be happy to help you out!