Friday, November 30, 2012

Fictitious Names May Be Up for Renewal

Fictitious names, also known as DBAs (Doing Business As), are valid for 5 years and expire on December 31st of the fifth year. Make sure you do not forget to renew if yours is due this year.

Each Fictitious Name Registration must be renewed between July 1 and December 31 of the expiration year to maintain active status. The Division of Corporations will mail to the last reported mailing address, at least 3 months prior to its expiration date, a statement of renewal. This is one reason it is very important to keep your current address on file with the Division of Corporations.

Remember that a DBA is owned by the business entity not the individual, unless you are a sole proprietorship. Operating as a sole proprietorship is typically not the best choice due to tax issues, the fact that you cannot obtain worker’s compensation exemption, and the lack of liability protection. Always consult an attorney or accountant when making decisions like this about your business.

Let us know if you have any questions about renewal. We are always here to help. Our team is your team.

Monday, November 26, 2012

Foreign Filing Facts

Many have expressed confusion about exactly what a foreign filing is. We would like to take a moment to discuss this subject. What is it and why would you do it?

Simply put if you want to conduct business in a state other than the state in which your business was formed, you need to file for foreign qualification with the new state where you would like to conduct business. 

Common reasons why business owners perform a foreign filing versus creating a separate, new corporation:
  • Tax benefits in the home state.
  • Ability to file under the same Federal Identification Number.
  • Insurance only needs to be obtained by the one entity.
  • All employees are under the same umbrella company and able to work on any projects that the company has going.

This is just a bit of information on foreign filings. We are neither accountants nor attorneys and any specific questions as to what would be right for you should be directed to one of these professionals. Remember if you have a foreign filing, you still must stay on top of the filings for the home state or it will become a defunct company! Let us know if you have any questions.

Thursday, November 1, 2012

Congratulations, October licensees!

Congratulations to the following Licenses, Etc. clients who were approved in October:

And remember if you would like to be set up on Social Media Networking sites, call Lisa at 239.777.8321 for more information.