Posts Tagged ‘limited liability company’

California Status Certificate and Status Report Changes

Wednesday, January 6th, 2010

The California Secretary of State’s office has announced that effective January 4, 2010, all Status Certificates and Status Reports must be ordered through its Sacramento Office. Status Certificates and Reports will not be available through the State’s San Diego or Los Angeles offices after the effective date.

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.

Income Tax Year – Calendar Year or Fiscal Year?

Tuesday, January 5th, 2010

When you start a business or form a corporation, partnership or limited liability company, your company will become subject to income tax. The income tax return that you will file is based on a tax year, usually 12 consecutive months, and it is commonly referred to as an annual accounting period. One can choose one of two kinds of tax years:

(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.

Vcorp Services iPhone App Launched

Monday, October 26th, 2009

Screen-shot-2009-10-26-at-11.16.32-AMVcorp Services is pleased to announce the launch of it’s Apple iPhone application. Available for download at the iTunes Store!

Entrepreneurs, Executives, General Counsel, Corporate Attorneys and Paralegals, Accounting and Tax Professionals are all excited about Vcorp Services new application for the iPhone. Now, the services you have come to depened on are available anytime and anywhere as long as you are connected to the 3G Network.

Need to incorporate? Need and LLC? Vcorp offers competitive prices and the fastest service on forming a new business in any of the 50 states.

How about business services? Vcorp provides the most convenient, easy-to-use- services to help you keep your company in good standing. Ensure full legal compliance, tax savings and maximum asset protection by taking advantage of Vcorp’s registered agent services, trademarks, tax-exempt 501c filings, publication services, and annual reports – in all 50 states.

This is the first application of its kind, and we are offering it FREE for the next 15 days! Head to the application store on your iPhone and search for Vcorp Services.

40% Of Senior Managers Question Credibility of Their Company’s Plans to Navigate Crisis

Tuesday, January 27th, 2009

A new survey has found that companies—whether financially weak or strong—are struggling to make the right moves in the current economic environment, with many wavering in their confidence of leadership’s ability to navigate the crisis.

According to the survey, 40% of senior managers doubt that their leadership has a credible plan to address the economic crisis, while an even greater number—46%—are not sure that their leadership could carry out the plan, credible or not. Additionally, one-third of all CEO and CXO-level respondents do not have confidence in the plans that they presumably wrote themselves. Further, a remarkably high number of hard-hit companies—65%—are not doing enough to ensure their own survival, such as accelerating efforts to dispose of assets or secure external funding. Among companies that state they are financially strong, one-quarter are not taking advantage of opportunities to improve their position in the crisis.

While more than half (54%) of the managers expect their companies to emerge from the crisis stronger, the survey finds their optimism doesn’t square with their balance sheets; there is a disconnect between many companies’ financial/competitive position and strategic response. “Companies have focused on the near term, some at the expense of the long-term opportunities. The strong need to go long. They need to create a view of new industry structure,” said Bill Jackson, Booz & Company Senior Partner. “Many strong and stable companies are playing things too short-term oriented for the moment. The really struggling and failing companies have reacted dramatically and some have already moved into bankruptcy.”

Valence Technology Prevails in Decision by European Patent Office to Revoke University of Texas Patent

Monday, January 12th, 2009

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Valence Technology prevailed in today’s decision by the Opposition Board of the European Patent Office (EPO) to revoke the European Patent granted to the University of Texas (UT) relating to lithium metal phosphates. The decision revoking the Goodenough et. al. UT European Patent eliminates any risk that UT could assert the European Patent against Valence’s proprietary lithium iron magnesium phosphate cathode material, which is a critical material for the next generation of electric vehicle batteries.

Valence had initiated opposition proceedings in the EPO on July 27, 2005, against the grant of the European Patent held by the University of Texas alleging that it lacked novelty. As a result of today’s decision, European Patent number 0904607, originally issued to UT, has been revoked by the EPO in its entirety. The decision to revoke the patent can be appealed by UT.

“Today’s decision by the European Patent Office was an important one for our company,” said Robert L. Kanode, president and CEO of Valence Technology, Inc. “By revoking the European Patent, the cloud of any possible patent infringement claim under the UT European Patent has been removed affirming Valence’s unrestricted right to market its unique, patented lithium phosphate powder batteries in Europe. The decision will allow us to more fully pursue European OEMs, who are the world leaders in electric vehicles. We have already established the proven performance and supply capability for our innovative battery solutions, and now our unrestricted right to market our proprietary lithium phosphate based energy storage solutions in Europe has been confirmed.”

CIOs Find that Tough Financial Times Call for Better Visibility into IT Costs

Friday, January 9th, 2009

it-costs

With the economy in a slump, many companies are asking the question “how can I best make use of every technology dollar I spend?”

Many of the world’s top enterprises are taking steps to answer this question by implementing a Technology Financial Management (TFM) solution from ComSci. The ComSci IT Cost Transparency and Chargeback solution enables enterprises to gain more visibility into the costs of IT products and services, optimize IT investments and better align IT with the overall strategy of the business. By utilizing ComSci’s intuitive, interactive web-based reporting and analytics engine, these firms provide business users with the details of their individual usage, so enterprise customers everywhere can minimize IT costs and maximize IT business value.

In general, companies that implement a cost transparency and chargeback process can save 3% to 5% of their total IT Budget. ComSci’s solution provides detailed consumption information and metrics to the business users in order to obtain these savings. The business users, now aware of the costs of their consumption of IT services, are able to make better decisions about IT priorities and this enables them to eliminate services that are not adding value to the business.

“To many CIOs, the demand for IT resources appears infinite,” Craig Symons of Forrester wrote in his June 2006 report, How IT Must Shape and Manage Demand. “No matter what the business cycle, competitive environment, or internal conditions may be, IT resources are needed to grow or enable new businesses, improve margins, or reduce fixed and variable costs…. Without an effective mechanism to shape or control this demand, IT will almost always be faced with more demand than resources, forcing difficult decisions about resource allocation and leaving the perception that IT is a bottleneck to getting things done.”

Wal-Mart Settles Wage Dispute

Wednesday, January 7th, 2009

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Wal-Mart has has reached a settlement of a wage and hour class action against Wal-Mart in Minnesota captioned Braun et al. v. Wal-Mart, Inc. et al.

The class includes approximately 100,000 current and former hourly associates who worked at Wal-Mart Stores and Sam’s Clubs locations in Minnesota from September 11, 1998 through November 14, 2008, and the settlement provides for payment by Wal-Mart of up to $54.25 million, including a substantial payment to the State of Minnesota. Also, as part of the settlement, Wal-Mart has agreed to maintain various electronic systems, surveys, and notices that will further compliance with wage and hour policies and Minnesota laws. The settlement is subject to approval by the trial court, and the exact amount paid to class members will depend on the court’s approval as well as on the number and amount of claims that are submitted by class members.

All parties believe this settlement is fair and reasonable for all concerned. “We are satisfied with this settlement, gratified that these hourly workers will now be paid after seven years of litigation, and happy that the State of Minnesota will receive the largest wage and hour civil penalty in its history,” said Justin Perl, of the Minneapolis law firm of Maslon Edelman Borman & Brand, co-lead counsel for the class. Wal-Mart spokesperson David Tovar added, “Wal-Mart is pleased that the court in Minnesota ruled in its favor on many claims. Our policies are to pay every associate for every hour worked and to make rest and meal breaks available for associates. Any manager who violates these policies is subject to discipline, up to and including termination. We remain committed to providing good jobs with real career opportunity to the 1.45 million U.S. associates who choose to work for Wal-Mart and serve our customers every day.”

It’s Now Easy for Bloggers and Journalists to Reference Patents, and Add Patent Search to Websites

Monday, January 5th, 2009

citepatents

FreePatentsOnline.com has launched an informational site, www.citepatents.com, to help bloggers, journalists and others easily reference patent information, and to provide a free patent search box for adding to websites with a single mouse click.

Due to an impartial, peer-reviewed nature, patents are an important, frequently cited source of highly detailed, accurate technical information. Patents are uniquely powerful in citation; any writer on the web who refers to a patent with a hyperlink is footnoting a highly-credible document.

“Across the international spectrum, tens of millions of patents now exist, going back hundreds of years,” said Erik Reeves, CEO of FreePatentsOnline. “It is a profoundly broad database of how things work, from every continent. Citing a patent with FPO is easy, because the FPO URL taxonomy is crystal clear.”

For example, RIM, the firm behind the BlackBerry, may have avoided its patent infringement lawsuit and settlement payment of $612.5 million to Annandale, Virginia-based NTP by simply searching CitePatents.com or FreePatentsOnline.com for an electronic mail system with RF communications to mobile processors patent. The result is http://www.freepatentsonline.com/6317592.html.

“I always reference FPO when I cite patents,” said Blaise Mouttet of the TinyTechIP blog. “They have the best interface and features in the inventions-database space, and as soon as they made their search capability available outside their site, I placed it on my blog right away, as a service to my readers.”

At CitePatents.com, the html behind the FPO SearchBox can be grabbed and placed on a website or blog. Also, CitePatents.com has information on the differences between patents and patent applications, patent numbering, and the taxonomy of a patent document.

Patent and Licensing News

Friday, January 2nd, 2009

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I prefer to report about when patents are utilized properly as opposed to simply being the focus of lawsuits, and that is what occurred this past week.

Frontier Communications and Ronald A. Katz Technology Licensing, L.P., headquartered in Los Angeles, announced today the settlement of patent litigation between the parties. As part of the settlement, Frontier Communications Corporation has agreed to pay an undisclosed sum for a nonexclusive license under a comprehensive portfolio of patents that Katz owns relating to interactive voice applications.

The patents held by Ronald A. Katz Technology Licensing, L.P. cover a wide range of interactive technology including automated forms of: customer service, prescription refill services, securities trading, merchandising, prepaid services, telephone conferences, registration, home shopping, as well as functions involved in securing information from databases by telephone, interactive cable transactions, and various other uses of toll free and local numbers.

Ronald A. Katz stated, “We welcome Frontier Communications Corporation to the group of leading telecommunications companies who have purchased a license under this portfolio.”

Mr. Katz is the named inventor on a large number of patents primarily in the fields of telecommunications and computing. He also formed Telecredit, Inc., the nation’s first on-line real time credit and check cashing authorization system, and was awarded a patent as co-inventor of that technology.

Happy New Year from Vcorp Services!

Wednesday, December 31st, 2008

Here is to a successful and prosperous 2009 from the entire Vcorp Services team!

happy-new-year