Delaware Intercorp Blog

Tuesday, April 15, 2014

Good Friday Holiday - Delaware Division of Corporations Office Closure



The Delaware Division of Corporations will be CLOSED on Friday, April 18, 2014 in observance of Good Friday, a state holiday in Delaware.  While many schools, banks, and businesses in the United States are also closed on that day, it is not a federal holiday.  Delaware Intercorp, Inc. will be open for business!  Remember, whether the Delaware Division of Corporations is open or closed, many routine matters can still be completed through our office.  Although filings cannot be made and certified copies cannot be obtained, franchise tax can be submitted, and our online ordering system is available so that orders can be processed the next business day. Have a question?  We’ll be here to help.

posted by Robin at 7:36 AM 0 Comments

Friday, April 11, 2014

Discovery Guidelines issued by the Delaware Court of Chancery

Streamline Discovery and Reduce Discovery Costs? All sounds good to us!


The Delaware Bench and Bar have a history of working collaboratively to provide the corporate citizens of Delaware with efficient and effective judicial procedures for resolving disputes. In early 2013, the Court of Chancery continued that tradition by implementing changes to its procedural rules, as well as to its guidelines, to address the modern discovery demands regarding electronically stored information (“ESI”). The Court’s announcements, as well as the Court of Chancery Guidelines for the Collection and Review of Documents in Discovery (the “Discovery Guidelines”), can be viewed here: http://courts.delaware.gov/chancery/rulechanges.stm.

You can read the rest of the article from the series “Why Delaware: Spotlight on Corporate Law in the First State.” @ the DECALS website.

 

posted by Russell Rozanski at 11:53 AM 0 Comments

Friday, April 11, 2014

The Delaware Corporate Legislation Tracker - April 11, 2014

An eventful week from Delaware Legislators- make sure you are in the know!


The Delaware Corporate Legislation Tracker is a free service offered by our firm, designed to keep you informed on current and pending legislation related to Delaware Corporate rules, regulations, and Delaware business matters.

Here's the latest edition:




The following Legislation affecting Delaware Title 6 - Commerce and Trade and Title 8 - Corporations was acted upon by the General Assembly on 4/10/2014:




HB 265
Title:  AN ACT TO AMEND TITLE 6 AND TITLE 8 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.

Synopsis:
This Act increases the annual tax assessed on partnerships, limited partnerships and limited liability companies on file with the Secretary of State from $250 to $300 and increases the corporation franchise tax by $100 for those corporations that file on the authorized shares method.

Bill History:

Apr 10, 2014 - Passed by Senate. Votes: Passed 13 YES 7 NO 0 NOT VOTING 1 ABSENT 0 VACANT
Apr 09, 2014 - Reported Out of Committee (EXECUTIVE) in Senate with 4 On Its Merits
Apr 03, 2014 - Assigned to Executive Committee in Senate
Apr 03, 2014 - Passed by House of Representatives. Votes: Passed 26 YES 13 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 4 - Defeated by House of Representatives. Votes: Defeated 13 YES 26 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 4 defeated
Apr 03, 2014 - Amendment HA 4 - Introduced in House
Apr 03, 2014 - Amendment HA 3 - Passed in House by Voice Vote
Apr 03, 2014 - Amendment HA 2 - Defeated by House of Representatives. Votes: Defeated 13 YES 26 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 2 defeated
Apr 03, 2014 - Amendment HA 1 - Passed in House by Voice Vote
Apr 03, 2014 - Amendment HA 3 - Introduced and Placed With Bill
Apr 01, 2014 - Amendment HA 2 - Introduced and Placed With Bill
Mar 25, 2014 - Amendment HA 1 - Introduced and Placed With Bill
Mar 19, 2014 - Reported Out of Committee (HOUSE ADMINISTRATION) in House with 2 On Its Merits, 1 Unfavorable
Mar 18, 2014 - Introduced and Assigned to House Administration Committee in House



The following Legislation affecting Delaware Title 19 - Labor was acted upon by the General Assembly on 4/10/2014:


SB 176
Title:  AN ACT TO AMEND TITLE 19 OF THE DELAWARE CODE RELATING TO THE MINIMUM WAGE.

Synopsis:
This bill provides for an increase in the minimum wage to $10.10 per hour.

Bill History:

Apr 10, 2014 - Assigned to Executive Committee in Senate


posted by Russell Rozanski at 9:18 AM 0 Comments

Friday, April 04, 2014

Are you on top of what is happening this week in Delaware Law?

The Delaware Corporate Legislation Tracker is a free service offered by our firm, designed to keep you informed on current and pending legislation related to Delaware Corporate rules, regulations, and Delaware business matters.

Here's the latest edition:




The following Legislation affecting Delaware Title 6 - Commerce and Trade and Title 8 - Corporations was acted upon by the General Assembly on 4/03/2014:




HB 265
Title:  AN ACT TO AMEND TITLE 6 AND TITLE 8 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.

Synopsis:
This Act increases the annual tax assessed on partnerships, limited partnerships and limited liability companies on file with the Secretary of State from $250 to $300 and increases the corporation franchise tax by $100 for those corporations that file on the authorized shares method.

Bill History:


Apr 03, 2014 - Assigned to Executive Committee in Senate
Apr 03, 2014 - Passed by House of Representatives. Votes: Passed 26 YES 13 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 4 - Defeated by House of Representatives. Votes: Defeated 13 YES 26 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 4 defeated
Apr 03, 2014 - Amendment HA 4 - Introduced in House
Apr 03, 2014 - Amendment HA 3 - Passed in House by Voice Vote
Apr 03, 2014 - Amendment HA 2 - Defeated by House of Representatives. Votes: Defeated 13 YES 26 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 2 defeated
Apr 03, 2014 - Amendment HA 1 - Passed in House by Voice Vote
Apr 03, 2014 - Amendment HA 3 - Introduced and Placed With Bill
Apr 01, 2014 - Amendment HA 2 - Introduced and Placed With Bill
Mar 25, 2014 - Amendment HA 1 - Introduced and Placed With Bill
Mar 19, 2014 - Reported Out of Committee (HOUSE ADMINISTRATION) in House with 2 On Its Merits, 1 Unfavorable
Mar 18, 2014 - Introduced and Assigned to House Administration Committee in House



The following Legislation affecting Delaware Title 15 - Elections was acted upon by the General Assembly on 4/03/2014:



SB 186
Title:  AN ACT TO AMEND TITLE 15 OF THE DELAWARE CODE RELATING TO CONTRIBUTIONS BY ENTITIES TO POLITICAL COMMITTEES.

Synopsis:
This bill requires entities contribute more than $100 to a political committees during an election cycle to disclose the name and address of a “responsible party”—that is, someone who shares or exercises direction or control over the entity’s activities. In so doing, this bill provides voters with additional information about where political money comes from, so they can better decide how to cast their votes. In addition, to help political committees and contributors accurately interpret and apply the law relating to the attribution of entity contributions, this bill requires the Elections Commissioner to adopt a uniform summary of the law in this area, with illustrative examples of how the law applies in specific cases. The Elections Commissioner is required to post the summary on its web site, and political committees are required to provide the summary to entity contributors at the request of such contributors.

Bill History:

Apr 03, 2014 - Assigned to Administrative Services/Elections Committee in Senate



The following Legislation affecting Delaware Title 29 - State Government was acted upon by the General Assembly on 4/01/2014:



HB 287
Title:  AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO THE PREVAILING WAGE.

Synopsis:
This bill establishes a set prevailing wage rate and eliminates the need for a survey based upon certain requirements.

Bill History:

Apr 01, 2014 - Introduced and Assigned to House Administration Committee in House



posted by Russell Rozanski at 9:54 AM 0 Comments

Thursday, April 03, 2014

SBA and AARP Host Second Encore Entrepreneur Mentor Month in April with Events around the Country

The U.S. Small Business Administration and AARP are again teaming up for National Encore Entrepreneur Mentor Month.  Building on the success of 2013’s Mentor Month, the two organizations will match “encore entrepreneurs” (over the age of 50) with successful business owners and community leaders for advice and assistance. Find local events at www.sba.gov/mentormonth


SBA district offices, state AARP offices and SBA resource partners host events around the country throughout April, including speed mentoring where experienced small business mentors and entrepreneurs share information in one-on-one counseling sessions and workshops.  Mentors come from SBA’s network of Small Business Development Centers, Women’s Business Centers, and SCORE chapters who help throughout the life cycle of an entrepreneur’s business.

“The SBA is working hard to increase opportunities for small businesses of the baby boomer generation and we believe 50-plus entrepreneurs will drive significant new business growth in the coming years,” said Tameka Montgomery, SBA Associate Administrator for Entrepreneurial Development.  “SBA is pleased to continue our partnership with AARP, uniting our efforts on Encore Entrepreneurship Mentor Month to help entrepreneurs transform their dreams into a successful reality.”

“AARP knows that many older Americans pursue entrepreneurship as a way to generate income and strengthen financial security,” said Debbie Banda, AARP interim Vice President, Financial Security.  “And for many of these workers, it is also a way to turn a hobby or passion into a paycheck.  AARP creates real possibilities by connecting experienced workers with the resources and guidance they need to help start or grow a small business,” Banda added.

“Encore entrepreneurs” are the fastest-growing group of entrepreneurs in the United States.  A 2010 survey by the Kauffman Foundation found that Americans age 55 to 64 start new business ventures at a higher rate than any other age group, including 20-somethings. 

SBA has free online courses targeted at helping encore entrepreneurs start or grow their businesses.  Go online to www.sba.gov/encore to access the online training and other resources available for entrepreneurs over the age of 50. 

SBA and AARP are also hosting two webinars in April to help current and potential entrepreneurs.  For more information, and to register, visit www.aarp.org/startabusiness.


posted by Russell Rozanski at 2:18 PM 0 Comments

Thursday, April 03, 2014

Small Businesses Access to 7(a) and 504 Loan Programs is Getting Better

U.S. small businesses will gain improved access to two major government-guaranteed loan programs once a final rule to that effect issued by the U.S. Small Business Administration becomes effective April 21, 2014.

The SBA recently published a Final Rule on the Federal Register that eliminates or revises several requirements for its two main loan programs, 7(a) and 504. The rule expands eligibility, makes it easier for small businesses to secure SBA-backed financing, and encourages job creation.

“These 504 and 7(a) program enhancements will expand program eligibility and improve access to capital for small businesses. Improvements in CDC corporate governance oversight enhance program integrity and encourages more local involvement,” said Ann Marie Mehlum, SBA Associate Administrator for the Office of Capital Access.

“One of the biggest challenges small businesses face is access to capital, added SBA mid-Atlantic Regional Administrator Natalia Olson-Urtecho. “Lowering loan barriers encourages entrepreneurs to start and grow businesses in their communities and strengthen our economy.”

The changes include, but are not limited to:

  • Elimination of the personal resource test which benefits borrowers by adding flexibility in the management of their allocation of personal resources to the small business;

  • Elimination of the nine-month rule for 504 eligible project expenses which allows businesses a longer timeframe in which to organize and initiate their small business project;

  • Revised 504 loan program collateral requirements to allow Third Party Lender to take collateral in addition to Project collateral under certain conditions; and

  • Enhanced CDC corporate governance requirements to ensure more board accountability and to reduce risks to the SBA portfolio.



Full text of the Final Rule as published on the Federal Register  (PDF)



posted by Russell Rozanski at 2:17 PM 0 Comments

Monday, March 31, 2014

Area Attraction



One Day In Pompeiiis a traveling exhibit which is calling the Franklin Institute in Philadelphia, PA  home until April 27.  This exhibit, which features approximately 150 artifacts, videos and 2 mini movies, presents a rare opportunity to glimpse the daily life and tragic demise of the Pompeian people dating back to 79 AD.

Adult tickets which include general admission and the Pompeii exhibit are $27.50.  Children 3-11 are admitted for $21.50, although I’d recommend leaving small children in the care of a sitter as they will be bored by the material and overwhelmed by the crowds. Ring of Fire, a truly breath taking 40 minute IMAX presentation regarding volcanic eruptions and earthquakes is a nice compliment to the experience for an additional $6.00 fee.

Get there at opening to avoid a human stampede and for a better chance of parking in the garage which is to the rear of the building.  Enjoy!  

posted by Kelly at 11:47 AM 0 Comments

Friday, March 28, 2014

OBAMA HEALTHCARE EXTENSION TO ENROLL



Have you taken care of your medical insurance yet? If you are one of  millions of Americans  who have not enrolled in the Obama healthcare, you could get extra time to enroll .


The Health and Human Services Department posted two documents that detail  ‘special enrollment periods” for those groups of people to access the new health insurance markets.


 Those who have begun to apply for coverage on HealthCare.gov but who do not finish by Monday, 03/31 will now have until about mid-April to ask for an extension where coverage would take effect May 1.


Additionally,people in 10 general categories of special circumstances would also get an extension to apply- generally a 60-day period. The categories include exceptional circumstances such as natural disasters, system errors related to immigration status, computer error messages due to technical difficulties and situations involving domestic abuse, as well as other sorts of problems.


To read more, go to http://www.washingtonpost.com/national/health-science/obama-administration-will-allow-more-time-to-enroll-in-health-care-on-federal-marketplace/2014/03/25/d0458338-b449-11e3-8cb6-284052554d74_story.html

posted by daisy at 11:55 AM 0 Comments

Friday, March 28, 2014

The Delaware Corporate Legislation Tracker - March 28, 2014

Another week goes by, and the lawmakers in Dover are doing their part to mix things up here in Delaware!

The Delaware Corporate Legislation Tracker is a free service offered by our firm, designed to keep you informed on current and pending legislation related to Delaware Corporate rules, regulations, and Delaware business matters.

Here's the latest edition:




The following Legislation affecting Delaware Title 6 - Commerce and Trade and Title 8 - Corporations was acted upon by the General Assembly on 3/25/2014:




HB 265
Title:  AN ACT TO AMEND TITLE 6 AND TITLE 8 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.

Synopsis:
This Act increases the annual tax assessed on partnerships, limited partnerships and limited liability companies on file with the Secretary of State from $250 to $300 and increases the corporation franchise tax by $100 for those corporations that file on the authorized shares method.

Bill History:

Mar 25, 2014 - Amendment HA 1 - Introduced and Placed With Bill
Mar 19, 2014 - Reported Out of Committee (HOUSE ADMINISTRATION) in House with 2 On Its Merits, 1 Unfavorable
Mar 18, 2014 - Introduced and Assigned to House Administration Committee in House



The following Legislation was acted upon by the General Assembly on 3/27/2014:



SJR 4
Title:  DIRECTING THAT ALL BUSINESS LICENSING REQUIREMENTS AND FEES BE ADMINISTERED THROUGH A SINGLE PORTAL.

Synopsis:
This Joint Resolution directs the Secretary of Finance to make recommendations to the General Assembly on the steps necessary to make business licensing requirements and fees to be administered through a single portal as recommended by the “Blue Collar” Task Force.

Bill History:

Mar 27, 2014 - Assigned to Labor & Industrial Relations Committee in Senate

posted by Russell Rozanski at 9:21 AM 0 Comments

Friday, March 21, 2014

The Delaware Corporate Legislation Tracker - March 21, 2104

Are you keeping on top of what is going on in Dover that may impact business and legal matters in Delaware?

The Delaware Corporate Legislation Tracker is a free service offered by our firm, designed to keep you informed on current and pending legislation related to Delaware Corporate rules, regulations, and Delaware business matters.

Here's the latest edition:




The following Legislation affecting Delaware Title 6 - Commerce and Trade and Title 8 - Corporations was acted upon by the General Assembly on 3/19/2014:




HB 265
Title:  AN ACT TO AMEND TITLE 6 AND TITLE 8 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.

Synopsis:
This Act increases the annual tax assessed on partnerships, limited partnerships and limited liability companies on file with the Secretary of State from $250 to $300 and increases the corporation franchise tax by $100 for those corporations that file on the authorized shares method.

Bill History:


Mar 19, 2014 - Reported Out of Committee (HOUSE ADMINISTRATION) in House with 2 On Its Merits, 1 Unfavorable
Mar 18, 2014 - Introduced and Assigned to House Administration Committee in House






SR 14
Title:  RECOGNIZING THE HONORABLE MYRON T. STEELE UPON HIS RETIREMENT FROM HIS POSITION AS CHIEF JUSTICE OF THE DELAWARE SUPREME COURT.

Synopsis:
This resolution recognizes the Honorable Myron T. Steele as he retires from the Delaware Supreme Court.

Bill History:

Mar 19, 2014 - Passed by Senate. Votes: Passed 18 YES 0 NO 0 NOT VOTING 3 ABSENT 0 VACANT
Mar 19, 2014 - Introduced in Senate


The following Legislation affecting Delaware Title 29 - State Government was acted upon by the General Assembly on 3/20/2014:




HB 271
Title:  AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO THE UNAUTHORIZED PRACTICE IN A PROFESSION.

Synopsis:
This bill requires the Division of Professional Regulation to report to the Department of Finance any person who is found to have engaged in the unlicensed practice of a profession and who the Division has reason to believe should have had a business or occupational license to conduct business.

Bill History:


Mar 20, 2014 - Introduced and Assigned to House Administration Committee in House



The following Legislation affecting Delaware Title 30 - State Taxes was acted upon by the General Assembly on 3/20/2014:




HB 269
Title:  AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO OCCUPATIONAL AND BUSINESS LICENSES.

Synopsis:
This bill requires the Department of Finance to provide an anonymous reporting system for the reporting of individuals or businesses who have failed to obtain an occupational or business license.

Bill History:

Mar 20, 2014 - Introduced and Assigned to Revenue & Finance Committee in House



posted by Russell Rozanski at 9:26 AM 0 Comments