Ongoing Management and Protection

Home » Blog » Ongoing Management and Protection

Ongoing Management and Protection

CorpNet’s blog posts offer a wealth of information for navigating through the ongoing management and protection of startup and business operations. Our articles are written by industry experts who have the experience to help you avoid common and unnecessary mistakes.


Michigan Annual Report Filing for LLCs and Corporations

The state of Michigan requires all business owners of limited liability companies (LLC) and corporations to file an annual report. An annual report is a filing that helps ensure the state’s records about a business entity are accurate.

Michigan has specific due dates for filing annual reports, so entrepreneurs need to stay on top of the deadlines and get their paperwork turned in on time. Submitting annual reports is one of the compliance tasks required to keep business entities in good standing with the state.

In this post, we’ll cover general details about […]

2021-05-11T06:45:38-07:00May 10th, 2021|Categories: Ongoing Management and Protection|

The Corporate Veil: What it is and Why You Don’t Want to Pierce it

What Is Piercing the Corporate Veil?

Businesses that are registered as limited liability companies (LLCs) or corporations provide their owners with protection against being held personally liable for the company’s debts and claims. That legal shield of separation between a business and its owners is known as the “corporate veil.” Under that shield (under most circumstances) the owners’ personal assets (home, property, bank accounts, retirement savings, etc.) cannot be taken to settle debts and lawsuits brought against the business. However, personal liability protection is not guaranteed if entrepreneurs do something (or fail to […]

2021-05-04T10:25:35-07:00May 4th, 2021|Categories: Ongoing Management and Protection|

What Business Owners Should Know About the Arkansas Annual Franchise Tax

The Arkansas Secretary of State requires some business entities to report and file Annual Franchise Tax each year. The Annual Franchise Tax is a privilege tax that limited liability companies (LLCs) and corporations must pay for the opportunity to conduct business in Arkansas.

The obligation to pay the tax begins the year after the business entity was formed and must be filed each year by May 1. Businesses may file and pay their Annual Franchise Tax as early as January 1.

Arkansas LLCs

LLCs (limited liability companies) and PLLCs (professional limited […]

2021-04-26T06:42:41-07:00April 26th, 2021|Categories: Ongoing Management and Protection|

What You Should Know About Delaware Annual Reports and Annual Tax

Business entities in the state of Delaware have various reports and filings they must submit to the Delaware Division of Corporations each year. Delaware Limited Liability Companies don’t have to file an annual report, but they do have to file to pay an Annual Tax each year by June 1. Businesses that are registered as a corporation in Delaware must file a Delaware Annual Report every year by March 1, and most must also pay a Franchise Tax fee yearly. These requirements apply whether a Delaware corporation operates in the state of […]

2021-04-26T06:23:37-07:00April 26th, 2021|Categories: Ongoing Management and Protection|

What are Texas Annual Franchise Tax Reports?

Texas Comptroller Annual Franchise Tax Reports Requirements

If you have a business in the Lone Star state, you may be wondering if you must file a Texas annual franchise tax report and pay a franchise tax. The state’s report filing requirements vary according to the type of business entity, so it’s important to research what obligations your business does (or does not) need to fulfill.

Most domestic entities (for example, companies registered as LLCs or corporations in Texas) and foreign entities (companies registered in a different home state but conducting business in Texas) need […]

2021-04-09T04:54:37-07:00April 7th, 2021|Categories: Ongoing Management and Protection|

What Is a Statutory Agent?

“A rose by any other name would smell as sweet.” ~ Juliet (in Romeo and Juliet by William Shakespeare). Such is also the case with a statutory agent. More commonly known as a registered agent, a statutory agent is an individual or entity appointed by a Limited Liability Company, S Corporation, C Corporation, or other legal business entity to accept legal documents, government correspondence, and compliance paperwork on its behalf. Other names for a statutory agent include agent for service of process and resident agent.

Statutory agents are critical for keeping statutory (state-registered) […]

2021-04-09T04:55:59-07:00March 29th, 2021|Categories: Ongoing Management and Protection|

Does Your Business Have to File a Georgia Annual Report by April 1st?

Business entities that are registered with Georgia’s Office of the Secretary of State must file a Georgia annual report each year. The due date for filing Georgia’s annual report is April 1st.

What is an Annual Report?

The correct terminology for an annual report is actually “annual registration.” However, many people refer to it as an “annual report” because that’s what the annual filing is called in many states. Throughout this article, you’ll see that I use both terms to mix things up a little for your reading pleasure!

Businesses required to file a Georgia […]

2021-03-23T06:57:06-07:00March 23rd, 2021|Categories: Ongoing Management and Protection|

Florida Annual Report: 7 Things You Must Know

If you have incorporated in Florida or formed an LLC in Florida, your deadline for filing your Annual Report is May 1. Here are 7 facts that you need to know to ensure that your corporation or LLC remains compliant in the state of Florida. You Must File an Annual Report Whether Your Business Has Changes or Not While the purpose of the Annual Report is to ensure that the Florida Department of State, Division of Corporations has your company’s most updated information, you still have to file the document, even if you have no changes since last year.

2021-03-23T07:10:39-07:00March 23rd, 2021|Categories: Ongoing Management and Protection|

California LLC Franchise Tax Waived in First Year

Legislative Update Gives Exemption to New California Limited Liability Companies

LLCs registered to do business in California must pay an annual franchise tax of $800 to the state’s Franchise Tax Board (FTB). However, to relieve some of the financial pressures amid the pandemic for newly formed businesses, California Governor Gavin Newsome signed legislation in 2020 to exempt startups from paying the LLC franchise tax during their first year in business.

This is welcome news for aspiring business owners in the Golden State!

The new rules established by the state’s 2020 Budget Act (AB 85) exempt […]

2021-03-08T07:09:05-08:00March 8th, 2021|Categories: Ongoing Management and Protection|
Incorporate Now