Wednesday, March 23, 2016
TRADE FACILITATION AND TRADE ENFORCEMENT ACT OF 2015
The Trade Facilitation and Trade Enforcement Act of 2015 was
signed into law by President Obama on Feb. 24, 2016. The bill did not get a lot
of attention outside of Washington but it brings significant positive changes.
The new law is intended to modernize and speed up the customs clearance process
in the United States.
What does this mean to ordinary citizen like me? Effective
March 10, 2016 the duty-free limit
for goods imported to the U.S. has been
raised from $200 to $800.Before this bill, tourists returning from
international trips could carry back up to $800 worth of merchandise duty free.
But if they shipped those exact same goods, only the first $200 was duty free.
The bill fixes this anomaly and simplifies the import process, which is good
for United States to compete globally.
Delaware LP/LLC/GP Franchise Tax: Due June 1
The DELAWARE LP/LLC/GP FRANCHISE TAX is due on or before June 1,
2016. Failure to pay the franchise tax
by the deadline will result in a $200 penalty plus interest charges assessed by
the State of Delaware at the rate of 1.5% per month. Additionally, it will prevent your company
from obtaining a certificate of good standing and may ultimately lead to your
entity being declared VOID by the State.
did not file a certificate of cancellation for your entity by December 31,
2015, then you are required to pay the annual franchise tax to the State of Delaware
in order to remain in good standing.
HOW TO PAY YOUR FRANCHISE TAX:
Use the Delaware Intercorp, Inc. EZ File
system to have us
pay your franchise tax directly to the State on your behalf, for a nominal
service fee. The EZ File system is fast
To access EZ File, you must login to your account, using the
email address that is associated with your account. If you have more than one company with us,
they are all consolidated under the account associated with your email.
In the event that you have difficulty with the login process
or with resetting your password, please contact us via phone or email
we may provide assistance.
We are here for you!