Small Business Reading Room

Tuesday, May 06, 2008

Lawmakers are considering major changes in how Colorado taxes corporate income

In hopes of attracting businesses that will build facilities and employ more people, Colorado lawmakers are debating changes to corporate income tax structure in their state. That's House Bill 1380. It shifts Colorado to what's called a "single-sales factor" method of taxing multistate corporations, or those that do business in more than one state.

But if the bill passes, will all of the businesses in Colorado actually benefit?

The Colorado Fiscal Policy Institute doesn't seem to think so. Their take on the proposed change is that a small group of corporations will reap the rewards. Basically, it is a tax increase for the majority of multistate corporations.

Wow. Do business only in Colorado or else...
Maybe they should dub this the "Big Stick" bill. I was thinking of the Big Stick Diplomacy made famous by Theodore Roosevelt, but feel free to use your own imagination.

Personally, I don't see how this bill makes Colorado seem like an attractive place to bring my business; but I guess you can't blame them for trying. After all, who wouldn't want to encourage more business to come to their State to build and create jobs? Delaware certainly does. Then again, Delaware already has a business friendly environment. Plus there are a ton of resources here of resources that are available here to help you make the most of it. You can check out the Delaware Economic Development Office online to learn all about it. They provide information on everything from business financing to workforce development. While you are there, be sure to use their tax incentive calculator to see why coming to Delaware makes sense for you. There's even a whole section on locating your business in Delaware.

So what will happen to all of those multi state businesses affected by this punitive corporate income tax change in Colorado?

Maybe they should visit the State of Delaware.

posted by Russell at 12:01 PM - permalink 0 comments

Friday, May 02, 2008

Over the Line

I’ll admit something, I am a Delaware Incorporator and I reside in Maryland. Just a hop, skip and a jump from the Maryland/Delaware line as a matter of fact. Being so close to the first state can come in handy, not only for my commute, but also for shopping….as there is no sales tax. Christiana Mall offers a plethora of retail shops and its Delaware presence offers a bit of a savings especially in this economy when every nickel counts. Lums Pond State Park, only minutes away, offers recreation including paddle boats and nature trails. The city of Newark, Delaware Intercorp’s home, caters largely to the University of Delaware crowd and therefore offers a variety of restaurants and breweries.

A drawback which I am willing to live with to enjoy this convenience is at income tax time, when I have to file with both Delaware and Maryland.

posted by Kelly at 3:30 PM - permalink 0 comments

Thursday, May 01, 2008

What to do on your summer vacation

If you are planning on a vacation this Spring or Summer, throwing caution and high gas prices to the wind, visiting Delaware offers many fun opportunities: Dover Downs, Fort Delaware State Park, the Wilmington Riverfront, and more.

Historic New Castle, Delaware offers events that you will not find elsewhere. It was from New Castle, Delaware that two of Delaware’s three signers of the Declaration of Independence rode in 1776. Two events in New Castle are coming up soon.

A Day in Old New Castle, on the third Saturday in May, has been an annual home and garden event for 84 years. Guests may visit historic buildings, enjoy period music and dance, or simply walk down a cobblestone street.

Another New Castle event is Separation Day. On the second Saturday in June, we celebrate Delaware’s separation from England and Pennsylvania. Yes, Delaware used to be part of Pennsylvania! There are many family events, including historical reenactments, rides, food, evening concerts, and fireworks.

I hope that you will consider a trip to Delaware, especially New Castle. I think that you will find it a “blast from the past”.

posted by Barbara at 4:03 PM - permalink 0 comments

The Most Exciting Two Minutes in Sports

The 134th Kentucky Derby, the first of the three races that make up horse racing's Triple Crown, goes off this Saturday, May 3rd, at Churchill Downs. Post time is 6PM Eastern Time.

Local Delaware Park jockey Ramon Dominguez is expected to ride Monba.

If you haven’t decided which horse to back, there’s still time. Take a look at this year’s contenders.

So, invite some friends and family over, mix up a Mint Julep, and enjoy the thrill of "The Run for the Roses!"

posted by Blue Moon at 8:59 AM - permalink 0 comments

Wednesday, April 30, 2008

Delaware, Small Wonder

“So you live in Dela-where? Delaware, TX or Delaware, OH?” It’s a fact that many people do not know where or what Delaware is. Many think it’s only a city or river. Others will dispute the fact that it’s a State in the United States.

Did you know that Delaware has many unique things to offer to individuals and businesses? Delaware is only one of five states that have no sales tax. There are many other Delaware tax advantages as well.

For example, did you know that most Delaware corporations and LLCs pay only a small franchise tax?

The State of Delaware also has a Chancery Court which issues legal opinions regarding disputes concerning Delaware corporations and other business entities. Delaware’s Chancery Court is widely considered expert in this field.

So if you are wondering about Delaware, Small Wonder, take a moment to check out our unique benefits.

posted by Barbara at 10:42 AM - permalink 0 comments

U.S.Postal Rates Up

It is just a year ago, May 14,2007 to be exact that postal rates went up . Here comes another adjustment effective May 12, 2008 for Mailing Services-First Class Mail, Standard Mail, Packaging Services and Special Services. For the complete postal prices, go to http://www.usps.com/prices.
Under the Postal Accountability and Enhancement Act, they will adjust mail prices each May. By law, these prices can increase on average no more than the rate to be determined by the Consumer Price Index. But they plan to issue a 90-days notice of any price adjustment to help mailers prepare for the change.

As for the Forever Stamp which features the image of Liberty Bell, you can use it no matter how prices may change in the future. But that too will increase by $0.01 by May 12. You can also use the Forever Stamp for international mail. Customers will need to attach additional postage since international prices are higher than domestic prices.The value of the Forever Stamp is the domestic First Class letter price in effect on the day of use.

For ways to save on mailing cost, you can go to http://forums.pb.com/ptnb

posted by daisy at 8:25 AM - permalink 0 comments

Monday, April 21, 2008

The 2008 Small Business Resource Guide

The 2008 Small Business Resource Guide CD-ROM is a handy, interactive CD designed to equip small business owners with the skills and knowledge needed to successfully manage a business. The CD covers a wide range of topics, from starting a business to retirement plan options.

The CD includes business tax forms, instructions and publications along with all of the tax law changes for 2008. In addition to providing a wealth of tax-related information, the CD contains a wide variety of Web links to various government agencies, business associations and IRS organizations.

Did I mention that it is free?

You can order a copy at the IRS website. If you can't wait for your copy to arrive, the complete CD is available online on the IRS partner's site at Missouri Business Development Program Web site.

posted by Russell at 5:25 PM - permalink 1 comments

Tuesday, April 15, 2008

The State of NY Invents New Tax

Lawmakers in the State of New York have approved a new bill aimed at requiring online retailers to collect sales tax on items shipped to New York.

The bill, called the "Amazon Tax", is now awaiting signature from New York governor David Patterson. If approved, it is estimated to generate $50 million in tax revenue for the state.

That's not to say that the bill will actually be upheld in the courts, if and when it is challenged. What a waste of taxpayer money.

This is politics and the failure of lawmakers at its best. Why does the legislature in Albany need to demonstrate fiscal responsibility when you can just invent taxes? Why spend taxpayer dollars to fight in court when effective government can be so much more effective, and less expensive? Sadly, it the people and the businesses of New York who suffer in the end.

Delaware has no sales tax or personal property tax. It can be done. You just need to have the interest of the people and business in mind. Remove barriers to business & commerce rather than construct them. That's what the State of Delaware does. That's why so many businesses incorporate in Delaware and make this state their home.

posted by Russell at 10:30 AM - permalink 2 comments

Monday, April 14, 2008

Barb's Spring Reading List

There’s nothing in this world that transports me like a good book. I’m currently on the self-help kick with a little romance thrown in for good measure (always).

If you lean towards martial arts, or Zen and Christian concepts, Soul Sword by Vernon Kitabu Roshi is an excellent choice. Another positive book, employing the wisdom of the Toltec, is called The Four Agreements. Both are very inspirational, and offer additional information on their web sites.

Finally, for a little romance, time-travel, history, and Scotland all rolled into one, I’m liable to pick up anything by Lynn Kurland. Her new book, WITH EVERY BREATH comes out in paperback on May 27, 2008. I guess I’ll have to read one of her classics, like STARDUST OF YESTERDAY.

posted by Barbara at 10:03 AM - permalink 0 comments

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