Consider these facts
- Your corporation must comply with ALL state & federal laws
- 95% of all corporations are Non-compliant
- Whether your corporation has no employees or hundreds, it must follow formal compliance rules
- It is your responsibility to know & follow the rules
- Creditors are very good at piercing the corporate veil of liability protection
- Most corporate attorneys charge thousands of dollars for minimal compliance assistance.
Betty Stein's Corporation Company
Her attorney set up the corporation and other paperwork. Her CPA took care of the taxes. Her business was successful and she thought she had few worries. Late 2004, Betty’s lender called and informed her that corporation was dissolved by the state over 3 years ago because she didn’t file an annual report. She had moved and forgot to notify the state, so she didn’t receive the state’s notices. Now, because of one error, her corporation’s loan was being called due. Betty has to come up with $750,000 immediately or she will lose everything!
Falcone v. Night Watchman, Inc.
Mr. Rozbicki was a practicing lawyer and sole stockholder of a corporation that owned a restaurant. Its chef ordered fruits and produce on a daily basis from Mr. Falcone. The restaurant failed to pay Mr. Falcone for the goods it received and he sued the corporation and Rozbicki individually. The Appellate Court of Connecticut pierced the corporation’s veil and held Rozbicki personally liable for his corporate debts because,
- There were no minutes kept of corporate meetings
- No loans were documented
- No proper records were kept of corporate funds until after the litigation arose.
In other words, there was no legal distinction between Mr. Rozbicki and his corporation. Also, Mr. Rozbicki should have known better since he was an attorney.
Three steps to compliance
Answer a few simple questions about your corporation (i.e. Corporation name, formation date, etc.)
Check off any compliance Actions you may have already taken (i.e. issued stock, obtained EIN, etc.)
All your documents online, ready to print along with detailed checklists of the actions you need to take to bring your Corporation into compliance.
Corporations must take the following actions:
- Complete ALL initial meeting requirements.
- Record corporate actions in minutes.
- Formally issue stock certificates.
- File all post-filing reports with formation state.
- Hold special directors meetings before taking any corporate actions.
- Send in all required IRS documentation.
- File annual report or tax statement.
- Conduct annual meetings.
- Deliver proper notice to directors or officers.
Set up in just a few short minutes.
Complete all your compliance and annual reporting paperwork in a few minutes per year.
Compliance monitor & reminders of each “Compliance Event” (annual filings, tax dates, etc.)
Access to 100’s of legal, state, & general business forms (updated daily).
Most business terms linked to our 10,000 word legal & small biz dictionary.
There is simply no corporate compliance & management service offering so much for so little.
What you receive
For only $99 per year (annual subscription), SmallBiZ Secretary will bring your Corporation into compliance and keep it there by providing you the following tools:
- Easy Action checklists and descriptions for each corporate action.
- Your corporate paperwork completed automatically.
- 24/7 Compliance Monitor warns you of non compliance.
- Library of 100's of general business, state, and federal legal forms.
- Quick and easy set up.
- Email reminders of any future "Compliance Events".
- EZ filings of any state changes.
- Quick two step stock printer and ledger.
- Instant access to basic corporate info when you need it.
- Completion of annual meetings quickly and easily.
- State annual report reminders and filing assistance.
- Compliance even if it's been years since your last annual meeting.
- History and archieve of all previous Actions and forms.
- Federal & state research areas.