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INDUSTRY NEWS

UPCOMING EVENTS

Industry News

California: Avoid State Taxes; Dissolve Before Deadline

Qualified business entities that file for dissolution with the California Secretary of State by January 15 will not be charged any state franchise taxes for 2017. Eligible entities include corporations, LLCs, LLPs, LPs, and nonprofit corporations. January 15 falls on a Sunday this year, so dissolution documents must be submitted to the state no later than Friday, January 13. If you need assistance with dissolving your entity, give us a call at 800.533.7272.


California: Changes for Notaries Public

Effective January 1, 2017, California notaries public will undergo a variety of changes. One such change (the result of Assembly Bill 2217) raises the fees notaries may charge for some notarial acts for the first time since 1994—effectively enabling notaries to charge 50% more than previous maximum fees. Perhaps the most impactful of the fee increases is that notaries may now charge $15 for taking an acknowledgment or affidavit, or administering an oath or affirmation. This fee previously maxed out at $10. For more information on all of the potential fee increases, go here.

Another change enables a notary to electronically notarize any electronic real property document that meets the requirements of Government Code Section 27201. Previously, notaries were only able to electronically notarize three specific real property documents—thanks to Assembly Bill 2143, this limitation has been removed. Read more.

Assembly Bill 2566 impacts certain identification requirements—expanding the list of acceptable credentials to include a consular ID document and an identification card issued by a federally recognized tribal government, as well as removing the requirement that a foreign passport be stamped for entry into the United States by the USCIS. Full details can be found here.

Additional information pertinent to notaries across the nation can be found online at www.nationalnotary.org.

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California: Changes to Statement of Information Forms

In late 2016, the California Secretary of State made some changes to existing corporation Statement of Information (SOI) forms, as well as created a new Statement of No Change form. For more information on these changes or for assistance filing your California SOI, give us a call at 800.533.7272.

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California: Changes to Stock Corporation Dissolution Forms

In early December 2016, the California Secretary of State made some changes to the following forms: Certificate of Election to Wind Up and Dissolve, Certificate of Dissolution and Short Form Certificate of Dissolution. The forms were reformatted and filing tips/instructions were added in an effort to increase ease of use and hopefully reduce rejections. Furthermore, Short Form Certificate of Dissolution has been renamed Short Form Dissolution Certificate.

While prior versions of these forms remain acceptable for the time being, it’s always best to use the most current versions when submitting your filings. The updated forms can be accessed via our website.

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Egypt: Changes to Commercial Legalization Procedure

In the past, the consulate of Egypt required a notarization and the authentication of the local state prior to the legalization of a commercial document. They now require an additional step, which is the authentication of the United States Department of State. This new requirement means documents must go to the appropriate state office, the United States Department of State and then the appropriate consulate per jurisdiction. This extra step not only makes the legalization fee more expensive (by adding additional agency fees), but also adds at least 5-7 business days to the turnaround time. For more information, please contact our apostille and legalization team at apostilles@parasec.com.

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Various States: Annual/Biennial Report Due Dates

The states listed below have annual reports due in the coming months. Don’t miss a deadline or you may be subject to hefty penalties and reinstatement fees. For assistance maintaining your annual report compliance, inquire about our managed annual report services.

Email us at annualreports@myparacorp.com for more information.

  • JANUARY
    • January 2 – AK: Corporations & LLCs (if the entity was formed in an odd year)
  • FEBRUARY
    • February 1 – ND: Nonprofits
    • February 15 – MI: LLCs
  • MARCH
    • March 1 – DE: Domestic corporations & all nonprofits
    • March 1 – RI: Corporations
    • March 31 – HI: All entities that initially filed in January, February or March.
    • March 31 – IA: Nonprofits, LLCs & LPs
    • March 31 – WI: Foreign corporations, nonprofits & LLCs; Domestic corporations, nonprofits & LLCs that initially filed in January, February or March.

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Various States: Plan Ahead for Filing Delays Due to Inclement Weather

Please note that some documents may incur unforeseen processing and shipping delays during this time of year due to the extreme weather conditions experienced in many parts of the country. In the past, Secretary of State and consulate closures have commonly occurred in areas such as New York, Massachusetts, New Jersey, Delaware, Michigan and Washington, D.C. Please plan to submit time-sensitive documents in advance to help prevent unwanted postponements. To start the process of filing or retrieving a document, give us a call at 800.533.7272.

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Upcoming Events

Parasec Takes to the Streets

Below are some of the events where you can find us in the coming months.

  • January 9-13 – 51st Annual Heckerling Institute on Estate Planning; Orlando, FL
  • February 16 & 17 - Business Law Institute and Business Law Section Annual Meeting (NCBA); Pinehurst, NC
We welcome any input you may have about what would make our newsletter more meaningful for you. Please email us your comments and/or suggestions! parasec@parasec.com.

[More On the Web]

Matthew Marzucco, President of Parasec, blogs here.

Communications Supervisor Erin Sierchio tweets for Parasec here.

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A note from Matt

A NOTE FROM MATT
President

Happy New Year! We hope you had a wonderful holiday and that the year ahead brings you health, happiness and prosperity. At the beginning of each year we take time to reflect on the things we have done well and identify areas where we can improve. This year is no different. In 2016 we made several upgrades to our registered agent division, including offering better online access to account information and electronic data gathering—both of which we hope will make your life a little easier. We also introduced a new service that provides diverse working capital solutions for businesses in need of financing. Additionally, we expanded our employee-training program with an emphasis on customer service, which we feel will continue to help demonstrate that we care about our clients.

As we look forward into the New Year, we are already actively working to improve our website and online ordering system. Our goal is to simplify and enhance these tools, and we welcome any input you may have. Staff training will remain a significant priority for us as well, as we continue to focus on delivering outstanding customer service. Thank you for your patronage and we look forward to working with you in the years to come.