September 15 Is Almost Here — Is Your Partnership Representative in Place?
For many partnerships and investment funds, September 15 is an important tax filing deadline. As tax returns are being finalized, there is one item that should not be overlooked: the designation of the Partnership Representative. Under the federal partnership audit regime established by the Bipartisan Budget Act of 2015, partnerships subject to the regime generally designate a Partnership Representative on their federal partnership tax return. This is not simply an administrative title. The Partnership Representative has significant authority to act on behalf of the partnership in dealings with the Internal Revenue Service under the centralized partnership audit rules. For investment managers, fund administrators, tax professionals, and offshore funds with U.S. […]
When Was the Last Time You Reviewed Your Registered Agent Fees?
Businesses regularly review the cost of insurance, accounting, technology, banking, and other professional services. Yet registered agent and corporate services are often treated differently. The annual renewal arrives, the invoice gets paid, and very little thought is given to whether the company is still receiving good value. That can be an expensive habit. For businesses with multiple entities or registrations in several states, registered agent fees and related corporate service charges can add up quickly. Small annual increases across a large entity portfolio can become meaningful expenses over time. Cost, however, should not be the only consideration. A registered agent relationship is important because critical state correspondence and legal documents […]
Delaware Annual Report Filings: Deadlines, Franchise Tax, and Compliance Requirements
Delaware is one of the most popular jurisdictions for U.S. business formation, particularly for corporations. However, companies formed in Delaware must meet ongoing compliance obligations to remain in good standing. One of the most critical requirements is the Delaware annual report and franchise tax filing. Missing a Delaware annual report deadline or filing incorrect information can result in penalties, interest, and loss of good standing—creating unnecessary operational and financial risk. What Is a Delaware Annual Report? A Delaware annual report is a mandatory filing required for all Delaware corporations. It provides the state with updated information about a company’s leadership, registered agent, and corporate structure. The annual report is filed […]