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Archive for December 2011
10 New Year's Resolutions for your Company
Here are 10 New Year’s Resolutions for Your Business that will get this year off to a great start! Be clear and concise about company policies. Review your employee manual and other policies for any necessary updates. If you don’t have one to review and update, set a firm deadline for drafting one. Green your…
Read MoreForfeiture of a Charter: Additional Issues That Arise for LLC's
When the Maryland State Department of Assessments & Taxation (the “SDAT”) forfeits an entity’s charter, that entity can no longer transact business in Maryland. While losing the right to transact business creates problems for any type of entity, there are some additional issues specific to LLCs. For example, the Maryland General Corporation Law (the “Corporations…
Read MoreFailure to Pay State Taxes Can Lead to Loss of Right to Do Business in Maryland
A client of ours recently ran into this very issue when its payroll provider prepared an incorrect W-2 that led the Comptroller to believe that our client had underpaid its withholding taxes. As a result, our client lost its good standing with the SDAT and almost had its charter forfeited. To correct the issue, we…
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