Domino’s vowed to revamp their recipe from the ketchup reminiscent sauce to the lackluster toppings.
Now, I wouldn’t have known about any of this though if Domino’s hadn’t taken a real risk with a transparent advertising campaign, creating viral videos of actual Domino’s employees owning up to the fact that yes, everyone thinks their pizza is terrible.

This video, “The Pizza Turnaround”, shows the Domino’s team evaluating the market’s opinion of them, accepting that they had some work to do and then, doing it! Publicly embracing the fact that they were delivering bunk pies was a bold move but definitely one that evokes confidence from the consumers. Domino’s comes out of this looking devoted to quality and essentially, their customers.

“The strategy for the transparency and the campaign only worked because we were very confident that we had an absolutely perfect pizza,” – Patrick Doyle, Domino’s CEO

Here’s the real question though,
have they created the perfect pizza?

Well, their stocks have gone up- today they’re being traded at $11.74, nearly triple its 52 week low of $4.76 and has some heavy handed influencers enthusing it.

“Is that pizza or did an angel just give birth in my mouth?” – Steven Colbert

Whether Steven had to do this bit at the behest of his sponsors or if it was genuine is questionable but that doesn’t diminish the effect Steven Colbert has on a relatively large chunk of Domino’s market.

Some business marketing experts are debating that this is a horrible move on Domino’s part, isolating their previously loyal customers by basically telling them they have bad taste as well as potential customers by pointing out that they were knowingly selling horrible pizzas this whole time.

Overall, this campaign will be a win for Domino’s just on the curiosity it’s piquing.
Now, I’m just sitting waiting for lunch thinking, “Hm, I wonder if that new Domino’s recipe is any good?”

The regional offices will continue to provide the following corporate services: Processing corporation name reservation requests and filing Articles of Incorporation to form a California corporation (excluding articles containing a statement of conversion which must be filed in the Sacramento office) or Statement and Designation by Foreign Corporation forms to qualify an out-of-state or out-of-country corporation to transact business in California.

Requests for services other than those identified above must be directed to the Sacramento office.

These changes apply to all entity types- corporation, limited liability companies and limited partnership.

For more information, please refer to California Secretary of State website.

(i) Calendar year – 12 consecutive months beginning January 1 and ending December 31. A person must use a calendar tax year if no annual accounting period has been established, no books and records are kept, or if IRS provision require the use of a calendar year.

(ii) Fiscal year – 12 consecutive months ending on the last day of any month except December. If you are allowed to adopt a fiscal year, you must maintain your books and records and report your income and expenses using the same tax year.

You adopt a tax year by filing your first income tax return using that tax year. If you file your first tax return using the calendar tax year, and later wish to change to a fiscal year accounting period, you must seek IRS approval for the change on IRS Form 1128.

As January 3rd inches its way here, many newbies to the Non-Profit world are asking, “What gives?!” for this soon to be imposed fee hike, especially with the economy leaving many charities floundering.

The 501c3 fee hike is nothing new; every two years the IRS must assess the difficulty of the application review process as well as the time it takes to approve them. They then adjust the fees accordingly to the costs of goods and services, which also includes other cost accounting data. The IRS uses the following calculation:
User Fee = (Average Hours per Case) X (Average Cost per Staff Hour).

Then we have to take into account not only the costs of goods and services but also inflation, increased wages and many other overhead costs, down to the increased postage.

The new Tax Exempt status filing starting January 3rd is $850.

We can also expect the IRS to unleash even more fee hikes during 2010 because all user fees must be reviewed and adjusted every two years, not just tax exempt statuses.

Take advantage of the week you have left and file your tax exempt status with Vcorp Services today!

User fees will increase for all applications for exemption (Forms 1023, 1024, and 1028) postmarked after January 3, 2010:

$400 for organizations whose gross receipts are $10,000 or less annually over a 4-year period
$850 for organizations whose gross receipts exceed $10,000 annually over a 4-year period
$3,000 for group exemption letters.
A complete schedule of all user fees will be published in the annual procedure released in January 2010.

Cyber Assistant, a Web-based software program designed to help 501(c)(3) applicants prepare a complete and accurate Form 1023 application, will become available during 2010. Once the IRS announces the availability of Cyber Assistant, the user fees will change again:

$200 for organizations using Cyber Assistant (regardless of size) to prepare their Form 1023
$850 for all other organizations not using Cyber Assistant (regardless of size) to prepare their Form 1023.
IRS will announce when Cyber Assistant is available and the effective date of the user fee change. Subscribe to the EO Update to automatically receive an alert that Cyber Assistant is available.

- http://www.irs.gov/charities/article/0,,id=212562,00.html

Cyber Assistant sounds like an excellent tool but unfortunately, the release date is unknown and subsequently so is the $200 lower rate.

File your 501c3 with Vcorp Services before January 3, 2010 and save!

Having been in corporate law practice for many years, in mega-, mid-sized- and boutique law firms, I’ve used nearly every corporate service provider in the industry. Now, virtually all of my and my colleagues’ business goes to Vcorp. We are sold on Vcorp’s cost-sensitive, comprehensive package of services and commitment to excellence in customer service. I’ve personally used Vcorp for business formations, changes to business structure, retrieval of certificates of good standing, and 501(c)(3) tax-exempt filings, lien searches, registered agent service, and LLC publishing services (which Vcorp offers at *extremely* competitive prices) in numerous states, an have always been delighted with the results. In-house general counsel, outside counsel, bankers and other professionals who require quality service with a collegial attitude at a competitive cost are missing out if not using Vcorp.

- Thaddeus Wojcik
Senior Counsel, Roberts Ritholz Levy Sanders Chidekel & Fields LLP

Here at Vcorp Services, our top priority is satisfaction on all fronts- low costs for the fastest turnarounds with the best of customer service. We know that business is not just about closing deals but about building a relationship that clients can rely on for the long run. We thank Mr. Wojick for his professional patronage and his wonderful words in support of our services.

If one person owns multiple businesses, each business would be required to have its own FEIN. The FEIN is unique to a business just like Social Security number is unique to an individual.

One can apply for a Federal Identification Number online (preferred method), or on Form SS-4 by phone, fax, or mail. The principal officer, general partner, grantor, owner, trustor etc. must have a valid Taxpayer Identification Number (Social Security Number, Employer Identification Number, or Individual Taxpayer Identification Number) in order to use the online application.

Obtaining the FEIN is one of several essential steps one needs to take when establishing a new entity for business. Vcorp Services, LLC will obtain the FEIN on behalf of a client’s company.

In instances where Vcorp Services handles the formation submission, please note the following:

(i) If the client provide information regarding social security number (for owner who is a natural person) or FEIN (for owner who is a corporation or limited liability company), Vcorp will provide the service free of charge.

(ii) If social security number of FEIN is not available, Vcorp will charge $45.00 for the service.

In instances where Vcorp Services does not handle the formation submission, please note the following:

(i) If the client provide information regarding social security number (for owner who is a natural person) or FEIN (for owner who is a corporation or limited liability company), Vcorp will charge $45.00.

(ii) If social security number of FEIN is not available, Vcorp will charge $90.00 for the service.

Immediately upon ordering the FEIN, Vcorp Services will send to the client an email confirming that the order for FEIN has been submitted. Vcorp Services will send a second email to the client as soon as the FEIN information becomes available.

Disclaimer: This post does not constitute legal advice

Numerous states have enacted LLP Statutes, but the nature and extent of relief from personal liability and the types of business enterprises that can use the LLP form varies depending on the state of LLP formation. It is important to note that the state LLP statutes are not uniform and have important variations in, among other things, the types of business that may use LLPs, cash reserve or insurance requirements, the level of personal involvement that will cause a partner to bear personal liability for another person’s negligence, and registration renewal requirements and the effect of a failure to timely renew LLP status.

This form of organization is mostly of interest to partners in old-line professions such as law, medicine, and accounting, where partners are protected from being personally liable for the malpractice of other partners. Additionally, partners report their share of profit or loss on their personal tax returns.

Unlike a limited liability company or a professional limited liability company, owners (partners) remain personally liable for many types of obligations owed to business creditors, lenders, and landlords.

Disclaimer: This post does not constitute legal advice

• Does the entrepreneur want to protect personal assets?
• Will the business have employees?
• Does the business plan to raise capital by selling stock to investors?
• Will your business sell products or provide services?
• Will family members or friends help operate the business?
• Will the business have investors or partners?

Advantages of Sole Proprietorship
• Easy to start up and easy to discontinue
• Subject to fewer regulations relative to other types of businesses
• Owner has full autonomy with regard to business decisions
• Owner does not have to be concerned with double taxation

Disadvantage of Sole Proprietorship
• Will likely have a hard time raising capital
• The owner of the business has unlimited liability

Advantages of a Corporation
• May issue shares of stock to attract investors
• Corporate income splitting may help lower overall tax liability

Disadvantages of a Corporation
• Double taxation of corporate profits and shareholder dividends
• Must hold annual meetings and record minutes
• S Corporations have restrictions on number of owners

Advantages of an LLC
• Has no limit to the number of owners
• Owners can report profit and loss on their individual tax returns
• Not required to hold annual meetings or record minutes

Disadvantages of an LLC
• Cannot engage in corporate income splitting to lower tax liability
• Cannot issue stock

Disclaimer: This post does not constitute legal advice

Sole Proprietorship:
In a sole proprietorship, there is no legal distinction between the owner and the business. The business is owned and operated by a single person; the owner is entirely responsible for the business’s success or failure. He or she collects any profits, but if the venture loses money and the business cannot cover the loss, the owner is responsible for paying the bills; even if doing so depletes his or her personal assets. No formal filing to establish the entity is required.

Corporation:
The corporation has, until recently, been the most traditional form of business entity. A corporation is owned by one or more stockholders who are issued shares of stock in return for their investment. Although the stockholders may have a role in running the business, their role as stockholders is strictly economic. A stockholder of a corporation is not personally liable for the acts or obligations of the corporation. The corporation is managed by a Board of Directors, which is elected annually by the stockholders. The Board appoints the corporation’s officers, including a President, Treasurer and Secretary, who are responsible for the day-to-day business affairs of the corporation. A corporation is taxed as a separate entity, without regard to the tax status of the individual shareholders. A shareholder is subject to taxation on a dividend distribution, when the dividends are received. Corporations must comply with many formalities, including annual meetings of the stockholders, election of directors, keeping of minutes and a stock transfer ledger.

Limited Liability Company:
limited liability company (“LLC”) has become a popular alternative to the corporation. An LLC is an unincorporated business organization with at least one member. Members may be individuals, corporations, partnerships, or other LLCs. LLCs offer the limited liability of a corporation, but with fewer formalities or record keeping requirements. An LLC can consist of only one or multiple members. Members should enter into an “Operating Agreement” which sets forth the relative rights and obligations of the members regarding contributions, distributions, allocations of profits and management of the business. LLC is not taxed separately but rather passes through its income, deductions, credits, as well as other items, to its members.

Limited Partnership:
A limited partnership is a partnership that includes one or more general partners, who are responsible for the management of the business, and limited partners, who have an economic interest in the partnership, but take no part in the management of the business. Limited partnerships are most commonly used in real estate ventures (although, in recent years, LLC’s are becoming favored alternative entities). General partners are personally liable for the obligations of the partnership. Limited partners, like corporate shareholders, are not liable for partnership obligations beyond their financial contributions. Limited partners may not participate in the management of the partnership’s business.

Disclaimer: This post does not constitute legal advice