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INDUSTRY NEWS

PARASEC UPDATES

UPCOMING EVENTS

Industry News

California: Changes to LLC Act

Effective January 1, 2017, California Assembly Bill 1722 (AB 1722) makes changes to California’s Revised Uniform Limited Liability Company Act. Now, instead of requiring a California LLC to have a majority vote in order to dissolve its business, the LLC will only need a vote of 50 percent or more. The bill is designed to help small, two-member LLCs avoid the unnecessary and costly litigation that is currently required in order to dissolve. Read the bill in its entirety here.


Various States: End of Year Filings

As the holiday season approaches, remember that you can submit year-end filings (in most states) in advance, ensuring that you get the correct formation or cancellation date in spite of heavy filing volumes. In some states, Delaware in particular, filings not submitted by the December 31 deadline could incur an additional year of taxes. Please contact your Parasec account executive for state-specific details.

 

Various States: Annual 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.

  • October 1 – MI: Nonprofits
  • November 1 – MA: Nonprofits
  • November 1 – RI: LLCs
  • November 15 – ND: LLCs
  • December 31 – MN: Corporations, domestic nonprofits, LLCs and LPs
  • December 31 – PA: Nonprofits

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Various States: Holiday Closures

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

  • OCTOBER
    • October 10 – Columbus Day: AL, AZ, CT, DC, GA, ID, IL, IN, ME, MD, MA, MO, MT, NE, NJ, NM, NY, OH, PA, RI, SD, UT, VA, WV - In SD, observed as Native American Day
    • October 18 – Alaska Day: AK
    • October 28 – Nevada Day: NV
  • NOVEMBER
    • November 8 – Election Day: DE, HI, IL, IN, MD, MI, MT, NJ, NY, RI
    • November 11 – Veteran's Day: All states
    • November 28 – Thanksgiving: All states, all Parasec offices
    • November 29 – Day After Thanksgiving: AL, CA, CO, DE, FL, GA, IA, IL, IN, KS, KY, MD, ME, MI, MN, MS, NE, NH, NC, NM, NV, OK, OR, PA, SC, TN, TX, UT, VT, VA, WA, WV, All Parasec offices
  • DECEMBER
    • December 23 – Christmas Eve: AR, IL, KY, LA, MI, MS, NC, OK, SC, TN, TX, VA, WI, WV
    • December 26 – Christmas Day: All states, all Parasec offices
    • December 27 – Day After Christmas: AL, DE, FL, GA, KS, KY, LA, ME, OK, NC, NM, SC, SD, TN, TX, VA, WY
    • December 30 – New Year's Eve: KY, LA, MI, MS, TN, TX (Comptroller only), WI, WV, WY

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Parasec Updates

Parasec to Partner with BridgePoint Capital to Offer Business Financing Solutions

Parasec has teamed up with BridgePoint Capital, a premier provider of diverse working capital solutions for small businesses and companies in need of financing. The agreement with BridgePoint Capital will allow us to offer our clients business financing solutions and working capital through BridgePoint for up to $2,000,000. A summary of the products that will be offered include business lines of credit, business term loans, and working capital among others. Learn more about these new offerings by clicking here.

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California: Parasec Now Offering Fictitious Name File Watch™

California law requires that any company doing business for profit within the state under a fictitious name register that name with the county clerk of the county of the registrant’s principal place of business. If you’ve already filed your fictitious business name (FBN), great! If not, we can help. Either way, it’s very important that you not let your FBN filing expire. FBN filings lapse and failure to renew prior to the expiration date could result in the loss of your business name-costing you time, money, and your company’s reputation and brand identity.

Parasec’s latest compliance tool, Fictitious Name File Watch™, helps protect your business name! Enroll today and protect your business. Email FBN@parasec.com to ensure your business name is safe.

Upcoming Events

Parasec Takes to the Streets

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

  • October 15 – Paralegal Association of Santa Clara County's 2016 Seminar; Mountain View, CA
  • October 18-21 – WealthCounsel's Symposium 2016; Reston, VA
  • October 22 – Los Angeles Paralegal Association’s 40th Annual October Conference; Universal City, CA
  • November 4 and 5 – Oregon Paralegal Association's 2016 Annual Convention & Business Meeting; Warm Springs, OR
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.

Jessica Foster tweets for Paracorp here.

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A note from Matt

A NOTE FROM MATT
President

As the president of Parasec, I spend a lot of time thinking about how we can deliver more value to our clients. Before we introduce any product we do a substantial amount of research into the client struggles it might alleviate, as well as the overall need for it. We’ve always worked hard to create mutually beneficial relationships with our clients because it really doesn’t matter what we think the best products are. If they don’t help solve your biggest challenges, we’re not doing our jobs right.

We recently introduced two services that we hope will prove valuable to you: Fictitious Name File Watch™ (a California FBN filing monitoring service) and business financing solutions. You can read more about these products under the “Parasec Updates” section of this Alert. As always, if you have any questions or suggestions, please feel free to reach out to either myself or your account executive.

While we may not be able to act on every suggestion we get, please know that we are listening to your feedback and we will continue to research services to help support the issues you're tackling.