Friday, June 26, 2009
Summer Time Fun
It’s summer time again and you know what that means, county fair season. Growing up I spent most days the Cecil County Fair was open on the fair grounds, from morning till night. This year the Cecil County Fair is July 24 - August 1, 2009. I know some consider county fair’s to be a hick town event. I’ll admit, as someone who comes from a small town, we have our events most city folk would laugh at; but no matter how “country” our events are we have the best time. The Cecil County Fair has everything from square dancing to a 4-H fashion show and everything in between, and don’t forget about the rides on the midway. If you’ ve never been to a county fair you really are missing an important piece of summer fun.
Thursday, June 25, 2009
ARC loans through the SBA
There's no doubt. The economy is hurting many businesses- both big and small.
Here's a bit of good news.
Short-term relief may be in sight for small businesses that are struggling to survive. Starting this week, the Small Business Administration (SBA) started distributing deferred payment loans that range up to $35,000 to 10,000 businesses facing immediate financial hardship.
ARC loans provide an immediate infusion of capital to small businesses to assist with making payments of principal and interest on existing debt. The loans are designed to allow borrowers to redirect cash flow from making loan payments to investing in their businesses, to help sustain the business and retain jobs.
The interest-free loans will be offered for as long as funding is available or until September 30th of next year, whichever comes first, and do not carry any fees that need to be paid to the SBA.
If you think that your may be interested in the ARC loans, visit www.sba.gov/recovery/arcloanprogram
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Wednesday, June 24, 2009
Delaware Corporate Legislation Tracker
There will probably be daily updates on these bills over the next week.
The Delaware Corporate Legislation Tracker is a free service, designed to keep you up to date on current and pending legislation related to Delaware Corporate rules and regulations. Here is the latest installment:
The following Legislation affecting Title 6 - Commerce and Trade, Title 8 - Corporations, Title 12 - Decedents' Estates and Fiduciary Relations, and Title 29 - State Government was acted upon by the General Assembly on 6/24/2009:
HB 267
Title: AN ACT TO AMEND TITLE 6, TITLE 8, TITLE 12, AND TITLE 29 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.
Synopsis: This Act increases various fees and taxes assessed by the Delaware Secretary of State. The Act provides for an effective date as of January 1, 2009 for all tax changes and an effective date of August 1, 2009 for all other changes.
History:
Jun 24, 2009 - Reported Out of Committee
(REVENUE & FINANCE) in House with 6 On Its Merits
Jun 24, 2009 - Amendment HA 6 to HB 267- Introduced and Placed With Bill
Jun 24, 2009 - Amendment HA 5 to HB 267- Introduced and Placed With Bill
Jun 24, 2009 - Amendment HA 4 to HB 267- Introduced and Placed With Bill
Jun 24, 2009 - Amendment HA 3 to HB 267- Introduced and Placed With Bill
Jun 24, 2009 - Amendment HA 2 to HB 267 - Introduced and Placed With Bill
Jun 23, 2009 - Amendment HA 1 to HB 267 - Introduced and Placed With Bill
Jun 22, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
HB 239
Title: AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO TAX ON LIMITED LIABILITY COMPANY.
Synopsis:
This Act would increase the State tax levied and imposed on both domestic and foreign limited liability companies.
Bill History:
Jun 24, 2009 - Amendment HA 1 to HB 239- Introduced and Placed With Bill
Jun 17, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
HB 241
Title: AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO TAX ON LIMITED LIABILITY COMPANY.
Synopsis:
This Act would increase the State tax levied and imposed on both domestic and foreign limited liability companies.
Bill History:
Jun 24, 2009 - Amendment HA 1 to HB 241- Introduced and Placed With Bill
Jun 17, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
HB 240
Title: AN ACT TO AMEND TITLE 8 OF THE DELAWARE CODE RELATING TO CORPORATE FRANCHISE TAX.
Synopsis:
This Act would increase the cap on the State corporate franchise tax levied and imposed on a corporation from $165,000 to $195,000 for any full taxable year.
Bill History:
Jun 24, 2009 - Amendment HA 1 to HB 240- Introduced and Placed With Bill
Jun 17, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
The following Legislation affecting Title 9 - Counties, and Title 29 - State Government was acted upon by the General Assembly on 6/24/2009:
HB 262
Title: AN ACT TO AMEND TITLE 9 AND TITLE 29 OF THE DELAWARE CODE RELATING TO GOVERNMENT RECORDS MANAGEMENT.
Synopsis: This Act increases the current State surcharge on each document or paper recorded or filed with the county recorders from $6 to $30. Additional proceeds of $24 per recordation or filing will supplement the Government Records Management Improvement Fund, which is renamed by this Act as the Delaware Cultural Access Fund. Fund fees retained by the State will be used to promote, preserve and protect Delaware’s cultural assets. Fees for the Government Records Management Improvement Fund have not been increased since 1991.
History:
Jun 24, 2009 - Reported Out of Committee (REVENUE & FINANCE) in House with 6 On Its Merits, 2 Unfavorable
Jun 23, 2009 - Amendment HA 1 to HB 262 - Introduced and Placed With Bill
Jun 22, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
The following Legislation affecting Title 30 - State Taxes was acted upon by the General Assembly on 6/24/2009:
HB 266
Title: AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO GROSS RECEIPTS TAXES.
Synopsis: This Act increases certain General Fund business and occupational gross receipts tax rates. Sections 1 through 16 of the Act set forth the specific gross receipts tax rate increases made by the Act. Section 17 of the Act eliminates a sunset provision that would have automatically repealed the gross receipts tax rate increases that were enacted in 2008. Section 18 of the Act is a severance provision. Section 19 of the Act provides that the rate increases made by Sections 1 through 16 of the Act are effective for taxable periods beginning after December 31, 2009.
History:
Jun 24, 2009 - Reported Out of Committee (REVENUE & FINANCE) in House with 4 On Its Merits, 2 Unfavorable
Jun 23, 2009 - Amendment HA 1 to HB 266 - Introduced and Placed With Bill
Jun 22, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
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Tuesday, June 23, 2009
Delaware Corporate Legislation Tracker
This is big news!
The Delaware Corporate Legislation Tracker is a free service, designed to keep you up to date on current and pending legislation related to Delaware Corporate rules and regulations. Here is the latest installment:
The following Legislation affecting Title 6 - Commerce and Trade, Title 8 - Corporations, Title 12 - Decedents' Estates and Fiduciary Relations, and Title 29 - State Government was acted upon by the General Assembly on 6/23/2009:
HB 267
Title: AN ACT TO AMEND TITLE 6, TITLE 8, TITLE 12, AND TITLE 29 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.
Synopsis: This Act increases various fees and taxes assessed by the Delaware Secretary of State. The Act provides for an effective date as of January 1, 2009 for all tax changes and an effective date of August 1, 2009 for all other changes.
History:
Jun 23, 2009 - Amendment HA 1 to HB 267 - Introduced and Placed With Bill
Jun 22, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
The following Legislation affecting Title 9 - Counties, and Title 29 - State Government was acted upon by the General Assembly on 6/23/2009:
HB 262
Title: AN ACT TO AMEND TITLE 9 AND TITLE 29 OF THE DELAWARE CODE RELATING TO GOVERNMENT RECORDS MANAGEMENT.
Synopsis: This Act increases the current State surcharge on each document or paper recorded or filed with the county recorders from $6 to $30. Additional proceeds of $24 per recordation or filing will supplement the Government Records Management Improvement Fund, which is renamed by this Act as the Delaware Cultural Access Fund. Fund fees retained by the State will be used to promote, preserve and protect Delaware’s cultural assets. Fees for the Government Records Management Improvement Fund have not been increased since 1991.
History:
Jun 23, 2009 - Amendment HA 1 to HB 262 - Introduced and Placed With Bill
Jun 22, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
The following Legislation affecting Title 30 - State Taxes was acted upon by the General Assembly on 6/23/2009:
HB 266
Title: AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO GROSS RECEIPTS TAXES.
Synopsis: This Act increases certain General Fund business and occupational gross receipts tax rates. Sections 1 through 16 of the Act set forth the specific gross receipts tax rate increases made by the Act. Section 17 of the Act eliminates a sunset provision that would have automatically repealed the gross receipts tax rate increases that were enacted in 2008. Section 18 of the Act is a severance provision. Section 19 of the Act provides that the rate increases made by Sections 1 through 16 of the Act are effective for taxable periods beginning after December 31, 2009.
History:
Jun 23, 2009 - Amendment HA 1 to HB 266 - Introduced and Placed With Bill
Jun 22, 2009 - Introduced and Assigned to Revenue & Finance Committee in House
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