Industry News

California: Avoid State Taxes; Dissolve Before State 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 2019. Eligible entities include corporations, LLCs, LLPs, LPs, and nonprofit corporations. If you need assistance with dissolving your entity, give us a call at 800.533.7272.

California: Sunset Date Extended for Architect, Engineering and Land Surveying Firms to Organize as LLPs

On July 20, 2018, Governor Jerry Brown signed into law Senate Bill 920 (SB 920), which extended the permission for engineering, land surveying, and architectural firms to organize as limited liability partnerships (LLPs) in California. Without this legislation, the ability for architects, engineers and land surveyors to form LLPs would have expired on January 1, 2019; instead, the permission has been extended to January 1, 2026. Read the bill here.

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California: Bill Requires Corporate Boards to Include Women

Senate Bill 826, signed by governor Jerry Brown on September 30, 2018 (effective January 1, 2019), has made California the first state in the country to require that women be included on corporate boards of directors. The new law requires publicly traded corporations headquartered in California to include at least one woman on their boards of directors by the end of 2019; however, that number is set to ramp up by December 31, 2021—increasing the number to two female directors if the corporation has five directors, or three female directors if the corporation has six or more directors. Read more details here.

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Delaware: Sexual Harassment Training Requirement

Effective January 1, 2019, House Substitute No. 1 (which replaced House Bill 360), amends the Delaware Code relating to sexual harassment and employment practices. Among other things, the act defines sexual harassment, sets forth training requirements for employers with 50 or more employees, empowers the Department of Labor to investigate violations, protects employees from employer retaliation, and more. According to the bill’s original synopsis, the purpose is to “combat sexual harassment in the workplace and to ensure the safety and dignity of all employees in Delaware.” For more information, go here.

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Illinois: Amendment to Limited Liability Company Act

Effective January 1, 2019, House Bill 4578 (Section 50-15) amends the Limited Liability Company Act by reducing the penalty for failure to file an annual report, pay an annual fee or maintain a registered agent from $300 to $100 for each year (or fraction thereof) beginning with the second year of delinquency and continuing until the entity has returned to good standing or until reinstatement is effected. Read more here.

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Maine: Misleading Annual Report Mailers

In October 2018, the Louisiana Secretary of State issued a warning to businesses regarding misleading annual report mailers coming from an entity called Workplace Compliance Services. Apparently, the same entity is now targeting corporations and non-profits in Maine. While the “solicitation form” looks similar to the annual report form used by the Maine Division of Corporations, the entity is not affiliated or associated with the Maine state government in any way, and recipients are encouraged to discard the mailers immediately. If you receive anything in the mail that you are unsure about, feel free to reach out to the Parasec team (at 800.533.7272) or the Maine Division of Corporations (at 207.624.7752) regarding the validity of the document.

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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 any time-sensitive documents in advance to help mitigate unwanted postponements. To start the process of filing or retrieving a document, give us a call at 800.533.7272.

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Various States: Upcoming Government Closures

Listed below are the state government closures scheduled for January, February and March. This information may change without our knowledge, so please be sure to check with your state office for additional closures/updates that may not be included below.

  • January 1 – New Year's Day: All states, all Parasec offices
  • January 18 – Lee-Jackson Day: VA
  • January 21 – Martin Luther King, Jr.'s Birthday: All states, all Parasec offices
  • February 12 – Lincoln's Birthday: CT, IL, MO, NY
  • February 18 – George Washington Day
  • February 19 – Presidents' Day: AL, AK, AR, AZ, CA, CO, CT, HI, ID, IL, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NY, ND, OH, OK, OR, PA, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WY, All Parasec offices
  • March 5 – Town Meeting Day: VT
  • March 5 – Mardi Gras: AL, LA
  • March 25 – Seward's Day: AK
  • March 26 – Prince Jonah Kuhio Kalanianaole Day (observed): HI

[More On the Web]

Matthew Marzucco, CEO of Parasec, blogs here.

Marketing Manager Erin Sierchio tweets for Parasec here.

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A note from Erin

Marketing Manager

I am very excited to announce that in 2019, Parasec’s website and invoices/estimates will be receiving fresh, new looks. It’s been ages since they have had an overhaul and, after months in the pipeline, these projects are nearing completion.

Our revamped website will feature a streamlined, modern design and enriched content—providing users with a more intuitive experience that enables them to navigate the products, services and resources they need with ease. The new website will also deliver a fully responsive experience, offering users a seamless transition from desktop to mobile browsing. Keep an eye out for more updates as we get closer to the launch.

Likewise, our fully redesigned invoices/estimates will present your information in a simplified, clearly organized manner—making it easier for you to find the information that matters most to you. Again, we’ll be sending out updates shortly before we release the new invoices/estimates.

Our hope is that the updated site and invoice/estimate will give you access to the tools and information you need to make well-informed business decisions. As we strive to improve every aspect of our customer services (both online and offline), undertakings like these give us a huge amount of pride. We also hope that they demonstrate our ongoing commitment to excellence to both our partners and valued customers.