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Snapshot™ Overview: Navigating the Site

Our last blog discussed the best way for you to login to Snapshot™.  Today we are going to discuss the different pages within Snapshot™ after you login with your email and password.  (If you login with your DE file number and Incserv Company number, you will have access only to the Franchise Tax & Annual Reports page.)

After you login to Snapshot™, you’ll find yourself on the home page.  You can use the gray bar at the top to navigate, or you can use the icons in the middle of your screen.  (Also note you should turn off your popup blocker as some functions of our site require popups to be displayed.)

 

Snapshot™

The first item on the gray navigation bar is Alerts.  Anything important affecting your companies appears here.  If you have an alert, there will be a gold number beside the word “Alerts.”  You can see the above client account has 8 alerts.  Here you can find if we are about to resign on any of your entities due to non-payment of an invoice, or if there are any outstanding invoices you should pay, or what entities have tax deadlines approaching.

On the Orders page, you can place a new order, view orders for invoices that are in-process with Incserv (please note the amounts shown on these invoices can change – it’s best to contact the CSR assigned to that order if you have any questions about the order), and view invoices.

On the Account page, you can make changes to the client information we have on file.  You can also reset your password here.

On the Entities page, you can view a list of all of your entities, plus much more!  We’re going to address using the Entities page in our next blog in our Snapshot™ series!

On the Billing page, you can view your statement, view your payment history, and view your billing summary, including PDFs of your invoices.  You can also pay your outstanding invoices from this page.  We’ll talk about the Billing page more in depth in an upcoming blog.

On the Franchise Tax & Annual Reports page, you can file your DE annual report if you have a DE corporation, or pay your DE LLC tax if you have a DE LLC.  You can read more about the benefits of filing through Snapshot™ in our 5-part blog series that starts here.  We’ll also touch on annual report filing and our auto-file service in the third blog in our Snapshot™ series.

Finally, on the Resources page, you can view information about filing in or maintaining a company in each of the 50 states!  We’ll introduce you to more information about our Resources tab in a future blog within this series.

As always, if you have any questions, feel free to contact us, call us, or chat with us, and we’ll be happy to walk you through any part of Snapshot™ – or just wait for one of our upcoming blogs where we take a closer look at the benefits of using Snapshot™!

Sara Flanagan, Systems Analyst

 

 

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Snapshot™ Overview: Logging In

Did you know we have an online client portal called Snapshot™?  It is a valuable tool our clients can use to gain information about their entities, file their annual reports, manage their payments and invoices, or review resources for each of the 50 states, and much more!  If you have a company where Incserv is the registered agent, you can use Snapshot™!

The first step to checking out our client portal is logging in.  You can visit the login page here:  https://Snapshot.incserv.com/login.aspx

There are two ways to login.  If your company is under your client account (and not, for example, your law firm’s), you want to login with your email and password on the left.  If you have been sent to Snapshot™ by your legal counsel (or someone else), you want to login using your DE file number and Incserv company number on the right.

 Snapshot™

How do you tell?  If you receive a bill from us directly every year for registered agent services, that usually means that your companies are under your client account.  If your law firm (or other company) forwards you our bill or bills you directly, then your companies are under their account.  Please note, if you login with your DE file number and Incserv company number, you can only file your DE annual report in Snapshot™.  Logging in with your username and password ensures you have full access to everything our client portal has to offer!

If you still aren’t sure, give us a call!  We can let you know if your company or companies are under your client account.  And if you have more than one company and they’re under multiple client accounts, we can condense them for you so they’re all under one client account.

If you don’t have a password, you can either give us a call or use the “Chat With Us” function on the lower right of your screen.  We can then quickly set you up with either a random password or a password of your choosing.

Check out our next Snapshot™ blog where we’ll discuss the different features of our client portal.  Also stay tuned for more posts in our Snapshot™ blog series where we’ll show you how to utilize everything to the fullest!

Sara Flanagan, Systems Analyst

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Delaware Annual Report & Franchise Tax–The Buzz! Part 5

Delaware Annual Report & franchise taxThe Delaware Annual Report deadline is approaching quickly – File by Thursday, March 1st!

For our final installment of Delaware Annual Report & Franchise Tax–The Buzz!, we would just like to remind you that the deadline is approaching quickly!  Delaware Domestic Corporations must submit their 2017 Annual Franchise Tax Report and Payment on or before 3/1/2018 (that’s this Thursday) in order to remain in good standing.  Penalty and interest are also assessed for entities that file their annual report and pay their franchise taxes after the due date, which is why it’s important to file by the deadline!

  • Have questions about the content of the Delaware annual report? You can refer back to the previous sections of this blog for helpful tips (click here to view part three).
  • Need help filing? Log into Snapshot™ for step by step filing or contact Incserv to have one of our trained Client Service Representatives file for you.  Our online order form is one great way to request our help and provide us with the information we need to file.  You can also call or email us for assistance as well!
  • Don’t have a Snapshot™ login? You can visit this link anytime and place a request for a login.  In addition, during business hours, feel free to email or call us and we will be happy to provide you with a login and password for your Snapshot™ account.

Thanks for visiting our blog.  Stay tuned for more great content to come from Incserv!

Lucy Rose, Project Manager, Product Research and Development

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DE Annual Report & Franchise Tax – The Buzz! Pt 4

Delaware Annual Report & franchise taxPart four 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.

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.

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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Delaware Annual Report & Franchise Tax–The Buzz! Part 3

Delaware Annual Report & franchise taxFrequently Asked Questions – Delaware 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 and two 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.

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 2017; 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 2017 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

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Delaware Annual Report & Franchise Tax–The Buzz! Part 2

 Annual Report & franchise tax, DelawareFiling your Delaware Annual Report & Franchise Tax via Snapshot™; Benefits and Tips!

In today’s Delaware Annual Report & Franchise Tax – The Buzz!, we would like to tell you the benefits and tips of using Incserv’s Snapshot™ Annual Report Filing Section. We may be a little biased, but we think you’ll find it to be pretty great as well!

  • No matter if you manage just one or multiple Delaware entities, all entities within your account will appear on screen for one-click Annual Report filing access.  Just click “Franchise Tax & Annual Reports” to get started.
  • Snapshot™ saves your previous year’s filing information, saving you the time of reentry! If nothing has changed, simply review and file.
  • View and download previous year Annual Reports filed through snapshot™, including the second page wherein Issued Shares and Gross Assets are listed (this information cannot be retrieved from the State as it is not public record.)
  • Snapshot™ charges a minimal fee for all this convenience of just $20 per report filing.
  • TIP! Use Google Chrome to access Snapshot™ and disable your pop-up blocker for our site.

Don’t have a Snapshot™ login?   You can visit this link anytime and place a request for a login.  During business hours, feel free to email us at radiv@incserv.com or call us and we will provide you with a login and password.

In addition to Annual Report filing, Snapshot™ provides you with a view of all of your account entities in one place including access to previously received Service of Process.  You can also place an order, view pending orders and pay invoices quickly and easily.  Watch for new features as we continue to upgrade your entity management experience!

Lucy Rose, Project Manager, Product Research and Development

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Delaware Annual Report & Franchise Tax–The Buzz! Part 1

Annual Report & franchise tax, DelawareDelaware is one of the jurisdictions which require annual report filings and franchise tax payments.  The deadline of March 1 is quickly approaching, so today, we decided to answer a few basic questions…

Where are the annual report & franchise tax notices sent? In Delaware, annual report and franchise tax notices are sent to the agent of record, also known as your registered agent. The registered agent is then responsible for passing the notice along to you. This is one of the major reasons it’s imperative to keep your registered agent up to date with the most current contact information for your entity.

How and when are the Delaware annual report & franchise tax notices sent?  Annual tax notices for domestic Delaware corporations have been sent either by e-mail or First Class Mail.  Incserv completed their mailings on 12/29/2017.  If you have not yet received your notice, please contact your registered agent.

How can I file my Delaware annual report? The State of Delaware Division of Corporations requires all Delaware annual reports for profit corporations be filed online. This can be done by visiting the Division of Corporation’s website at www.corp.delaware.gov or by utilizing a registered agent. When utilizing a registered agent, you can have the agent file for you or use their filing portal that is tied directly to the State’s system (ours is Snapshot™ – if you want to know more about it, click here).

Be sure to check back weekly or subscribe to the blog so you don’t miss out on the rest of the details. Next week we will continue the series and talk more about how to file using our Snapshot™ portal. Of course, if you have a question in the meantime, feel free to reach out to us. We are here to help!

Rose Redman, Quality Assurance and Employee Development Manager

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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 taxDelaware 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 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!

 

 

 

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Delaware Annual Report & Franchise Tax – Help! Part Three

Today, in Part Three of our Delaware Annual Report & Franchise Tax Series, we continue to delve into the specifics of completing a Delaware annual report. If you’re new to the Delaware Annual Report & Franchise Tax Series, click here to start at the beginning.

When completing the Delaware annual report for a domestic profit corporation, certain information is mandatory for all filers. Once filed, this information is considered public record, with the exception of the gross assets and issued shares.Delaware annual report

  • End of fiscal year date – For corporations not using the last day of the calendar year, the date will need to be updated to specify your corporation’s fiscal year end date.
  • Principal place of business address and phone number – This is the physical location of the principal place of business for the location. Delaware Law requires the city, town, street and number. A post office box address is not accepted. You may use an international address.
  • One officer – Only one officer is required, though additional officers may be added. The first and last name, title, and address of the officer are required. The officer authorizing the report must be listed.
  • All directors – The names and addresses of all the directors as of the filing date of the annual report must be listed. The only exception to this rule is for an initial Delaware annual report or a Delaware annual report being filed in conjunction with a dissolution pursuant to Section 274 or 275(c) of Title 8.
  • Signature line – The name, title, and address (no PO Boxes allowed) of the authorizing person must be listed.
  • Gross assets & issued shares – When filing a Delaware annual report for a corporation not considered minimum stock, calculation information is also required. This includes total gross assets and issued shares.

Be sure to check back weekly or subscribe to the blog to follow along with the series. Next week we will begin to break down 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!