Small Business Reading Room

Thursday, May 12, 2005

Federal Tax Reform Panel Will Consider H.R. 1601

Way back on January 7, 2005, President Bush announced the establishment of a bipartisan panel to advise on options to reform the tax code to make it simpler, fairer, and more pro-growth to benefit all Americans. Last week, the panel announced they will be meeting for the eighth time.
The meeting is open to the public:
National Transportation Safety Board Conference Center Auditorium, 429 L'Enfant Plaza, SW, Washington, DC 20594, on Wednesday, May 11th (yesterday) and Thursday, May 12th at 9:30 a.m.

The meeting held yesterday focused on specific options for tax reform and the May 12th meeting today will focus on business tax reform proposals.
Of particular interest to me is a proposal by Pennsylvania's own Rep. Chaka Fattah (D-PA). The Transform America Transaction Fee proposal (H.R. 1601)calls for the elimination of all federal taxes on individuals and businesses replacing it with a fee on all transactions.

It's not a sales and use tax, and it is not a VAT tax like the ones commonly used in Europe.

Call it a "transaction tax".

Fees could be assessed as a percentage of the transaction, or as a flat or tiered fee per transaction.

Granted that nothing is perfect, but the complete elimination of income, payroll, corporate profits and capital gains taxes sounds pretty darn good to me.

Whether you agree or disagree, let the President's Advisory Panel on Tax Reform know how you feel and post a comment about the proposal on their website.


Wednesday, May 11, 2005

FACTA on the Horizon, Office Depot Declares Small Business Month

You may not have known it, but the Office Depot is honoring America's 25 million small business owners this month. They have planned activities, and of course promotions to help small businesses adjust to the changing business world.

Executive vice president and chief merchandising/marketing officer, Chuck Rubin, has this to say:

From our focus on information protection products that address concerns about identity theft, to our credit card and loyalty program offers, we are providing the tools that help small businesses grow and succeed.

Consumer and employee information protection, now that is something worth talking about, even if you are just trying to sell a few extra paper shredders. Particularly since the FACTA (Fair and Accurate Credit Transaction Act) is set to take effect on June 1, 2005.

You remember FACTA, don't you?

Pres. Bush signed it into law back in December, 2003. The legislation covers a lot of areas. One way it affects small business is through efforts to combat identity theft by instituting stronger consumer protections, such as by requiring merchants to leave all but the last five digits of a credit card number off store receipts.

I guess the Office Depot is hoping we will all line up to buy new paper shredders.

Ahh, I love the smell of capitalism in the morning.

You can read their press release, and view surveys on info protection here.


Tuesday, May 10, 2005

New Simpler Order Forms

Delaware Intercorp, Inc., has just gone live with our new easier-to-use order forms for Delaware Corporations.

We've responded to the comments and needs of our customers to create a form that requires only one page to intake all of the information required to create a corporation. The second page secures payment and we handle the rest.

We hope to make the online incorporation process as safe, simple and fast as possible. We will record your incorporation on the same day we charge your account. That is either the day you order or the next business day.

We use quite a bit of automation to ensure the accuracy of our filings on your behalf. This also allows us to process your order extremely quickly. So be sure to check over your order details carefully.

Please feel free to use the orderform to estimate the price of your particular incorporation. You will be given a total price before we ask for any payment information.

And feel free to send us your feedback about the forms or anything else you find on our site at

Thank you.

link to Atom Feed




Delaware Intercorp, Inc.
113 Barksdale Professional center
Newark, DE 19711-3258

"For all the best reasons to incorporate,the best place
is Delaware and the best incorporator is
Delaware Intercorp!"

Call Monday - Friday 09:00 (am) - 17:00 (pm) Eastern Time (GMT-05:00)

Toll Free - USA only - 888.324.1817
International: (1) 302.266.9367
FAX: 302.266.9940