Small Business Reading Room


Friday, March 26, 2010

Delaware Corporate Legislation Tracker

Stay on top of changes to the DGCL with the Delaware Corporate Legislation Tracker. This is a free service, designed to keep you informed on current and pending legislation related to Delaware Corporate rules and regulations. Here's what's been happening this past week:


The following Legislation affecting Title 8 - Corporations was acted upon by the General Assembly on 3/25/2010:

HB 341
Title: AN ACT TO AMEND TITLE 8 OF THE DELAWARE CODE RELATING TO THE GENERAL CORPORATION LAW.



Synopsis:
This bill is a comprehensive set of amendments to many sections of the General Corporation Law of the State of Delaware (“DGCL”), and to Chapter 5 of Title 8, to clarify, fill gaps in, and make consistent the DGCL’s application to corporations that are not authorized to issue capital stock, commonly known as nonstock corporations. For historical reasons, the DGCL has not comprehensively addressed nonstock corporations. Since Delaware now has approximately 18,000 registered nonstock corporations, these amendments will provide clarity and consistency so that these entities and their advisors will have appropriate and necessary statutory guidance. Most notably, new Section 114 of the DGCL is a “translator” provision that sets forth which provisions of the DGCL apply to nonstock corporations generally and which provisions apply to non-profit nonstock corporations specifically. With the exception of amendments to Sections 313, 391, and 501, none of these amendments is intended to affect the DGCL with respect to stock corporations, either directly or by negative implication.


Bill History:

History: Mar 25, 2010 - Passed by House of Representatives.
Votes: Passed 39 YES 0 NO 0 NOT VOTING 2 ABSENT 0 VACANT

Mar 24, 2010 - Reported Out of Committee (JUDICIARY) in House with 6 Favorable, 2 On Its Merits

Mar 23, 2010 - Introduced and Assigned to Judiciary Committee in House





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Thursday, March 25, 2010

Global Trade Leads Bulletin- March edition

Are you interested in learning about trade leads that are received from World Trade Centers and other international agencies?

The World Trade Center Delaware publishes a list of leads that you may be interested in using as a resource to gain some exposure for your company or to source goods.

This month's leads include: Steel Construction, Industrial Strings & Machinery, Polluted Sand Cleaner, Arts Leads, Transportation Leads, Green Energy Leads, Healthcare Products, Equipment Leads: Helmets, Vests, Torches, Night Binoculars, Copper Wire, Ethernet Cable, Air Conditioners, Bomb Detectors, Bomb Robots, Aircraft Leads, Petrol & Chemicals Leads, Food Leads.

Check out the current International Trade Leads Bulletin (PDF)


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New law cuts Internet business taxes

That's right- this actually occurred smack dab in the middle of the internet sales tax debate!

How could this happen, you ask? Well, the city of Los Angeles is fighting to keep well-paying jobs. Apparently, jobs are so important that the city is willing to cut the gross receipts tax for about 1,400 businesses, ultimately costing the city over 3 million in revenue annually.

Job are important? There's a novel idea. Maybe Mayor Antonio Villaraigosa can talk some sense into the California legislative assembly.

Or, they could just let all of these internet businesses move to Delaware...
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