Tara Vitale

edmonton, alberta, government

Washington Secretary of State, Physical Addresses, and Private Mailbox Address (PMB)

Overview Have you or your entity recently faced a rejection from the Washington Secretary of State (“SOS”) regarding the use of a private mailbox address (“PMB”) for a principal office street address? You are not alone! The SOS has recently become stricter on the use of PMBs for an entity’s principal office street address. While …

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startup, start-up, notebooks

2022 Annual Report Requirements for Nonprofits under RCW 24A.03

Overview Each year in Washington, nonprofits formed in Washington or registered to do business in Washington must file an annual report with the Secretary of State. The annual report is usually due around the nonprofit’s formation or registration date. The filing requires basic information such as the physical and mailing address of the entity, the …

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achievement, bar, business

Seller’s Earn-Out when Selling Their Business

In today’s market, buyers and sellers need to be creative when it comes to financing the purchase and sale of a business. Earn-outs offer a financing option that provides for flexibility, incentives for the new owners to do well, and incentives for the seller to see the transition go smoothly. Earn-outs can be structured in …

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write, plan, desk

The Letter of Intent

Overview You’ve just shaken hands to buy or sell a business, now what? What are the next steps? How do you take this broad outline of terms and turn them into a binding contract? Typically, after the hand-shake deal is made, the next step is to enter into a Letter of Intent (sometimes also called …

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money, money tower, coins

Types of Financing for Buying a Business

Overview There are many ways to pay for the purchase price during the sale of a business – all cash, traditional financing with a bank, seller financing with a promissory note, or some combination of the above. When discussing the payment options with the other party you should keep in mind that you are not …

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accountant, accounting, adviser

DE LLC Franchise Tax

Have you recently received a notice from Delaware requiring you to file a franchise tax? Each year, many Delaware LLCs are shocked to receive a franchise tax notice for their business. Don’t panic! The below article will help answer some of your questions and help walk you through Delaware’s LLC franchise tax process. What is …

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accountant, accounting, adviser

DE Corporate Franchise Tax

Have you recently received a notice from Delaware requiring you to file a franchise tax? Is the tax amount listed a crazy high amount? Each year, many Delaware incorporated businesses are shocked to receive a franchise tax notice for an amount that seems outrageous for their business. Don’t panic! The below article will help answer …

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Do you have to serve customers without a face covering?

On June 24, 2020, Dr. John Wiesman, the Washington Secretary of Health, issued the statewide Order of the Secretary of Health 20-03 “Face Coverings – Statewide” (the “Face Cover Order“) whereby: “Every person in Washington State must wear a face covering that covers their nose and mouth when in any indoor or outdoor public setting, …

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King County Phase 1.5 and Reopening Your Business

As of June 5th, King County is progressing into a modified Phase 1 or “Phase 1.5” and businesses are starting to think about their individual reopening plans. With reopening your business there are many concerns – When can I reopen? How do I reopen? and What policies do I need in place? While each business’s …

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Approaching IRS’s Deadline for Paper 1023 Applications

As of January 31, 2020, the Internal Revenue Service (the “IRS”) revised the 1023 application for 501(c)3 tax-exempt status submission process to be online instead of by paper. The IRS granted a 90-day grace period for nonprofits to submit their paper applications. The deadline for the IRS to accept paper 1023 applications is April 30, …

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