Nevada news

Important Nevada Forms Changes

The Nevada Secretary of State has changed renewal forms as well as many other filing forms. Most of the new ones were revised in January, but only recently uploaded when they began implementing their new filing system.

We have been notified by the Secretary of State’s office that they are unable to provide us with pre-populated renewal forms (all previous filed information filled in).

At this time their new filing system is still not fully functional. However, Annual Lists may be filed online. As with many states, we believe the goal has been to have the majority of renewals, if not all, filed online.

As of today they are over a month behind on Annual List filings that were hand delivered. To view processing dates see link below.

https://www.nvsos.gov/sos/businesses/processing-dates

To file your Annual Lists online with the state go to the link below.

https://www.nvsilverflume.gov

If you need assistance, please call us at (888) 274-1130.

Changes to Filing Requirements for Nevada Commerce Tax

Changes to Filing Requirements for Nevada Commerce Tax

Per notification from the Nevada Department of Taxation:

The filing requirement for the Nevada Commerce Tax has been changed. If the Nevada gross revenue of your business from July 1, 2018 through June 30, 2019 was $4,000,000 (FOUR MILLION) or less, your business is no longer required to file a Commerce Tax return and your Commerce Tax Account will be automatically closed.

If the Nevada gross revenue for your business form July 1, 2019 through June 30, 2019 was over $4,000,000, your business is still required to file a Commerce Tax return on or before August 14, 2019.

In the event that your Nevada gross revenue exceeds the $4,000,000 threshold in a future year, it is your responsibility to file a return for the year. Failure to do so may result in the assessment of penalty and interest.

If you have already filed the return, please disregard the informational message.

For more information about Commerce Tax, including the filing requirements, please visit the State of Nevada Department of Taxation’s website: https://tax.nv.gov/WelcometoCOM/

Secretary of State Warns Business About Misleading Filing Notices

Yesterday Nevada Secretary of State Barbara Cegavske’s office posted a warning to businesses regarding misleading corporate filing notices. According to the warning a company based out of Florida calling itself “Division of Corporate Services” is sending an “annual records statement” to companies asking for shareholder/director information and to return the form with a $150 fee.

To read the Secretary of State’s post CLICK HERE.

New Rule Regarding Solicitation of Investors

Yesterday the Nevada Secretary of State posted a media release regarding new regulations that went into effect regarding public solicitations for investors. The article warns that it could open the floodgate to a wave of securities fraud and that investors should educate themselves of the new rule- Regulation D Rule 506(c) of the Securities Act.

In April 2012 Congress passed the Jumpstart Our Business Startups (JOBS) Act, which changed the way that this rule allows offerings to be sold. According to the article private placement offerings of securities, such as stocks, bonds and other instruments are exempt from SEC registration requirements. Furthermore the state of Nevada does not review them for verification of information or level of risk.

Additionally it states that under this new rule companies are allowed to publicly solicit investors and advertise the sale of securities without registering the offering with either the SEC or any state if certain requirements are met. These investments may be sold via television commercials, newspaper ads, internet sales and cold calls.

“This rule change provides a new solicitation platform that is another avenue for swindlers to scam investors, so I urge investors to perform due diligence and thoroughly check the offerings before investing,” said Secretary Miller.

Previously such offerings were only made known through investment professionals or word of mouth. As a precaution to protect investors from fraud, they should fully understand the following:

• These offerings often involve companies with a limited history.
• There may not have been a regulatory background check of the sellers, managers or officers of the company issuing the investment.
• They often promise higher rates of return- and come with higher risk.
• These securities are generally illiquid, which means you may have a limited ability to get out of the investment and may hold it indefinitely.
• You may be offered less information than a public offering.
• No regulator has confirmed that the risk disclosure or information about the company is adequate.

Regulation D Rule 506 investments, if sold via advertisements or general solicitation, may only be sold to accredited investors. An accredited investor is:

• A natural person must have a net worth , exclusive of your primary residence, of more than $1 million, or
• Have had an income over $200,000 individually, or $300,000 with your spouse, in each of the last two years, and expect to earn the same amount this year.

For a complete summary of the proposed regulations that went into effect 9/23/13 go to https://www.sec.gov/rules/proposed/2013/33-9416.pdf.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775) 884-9380 today and visit our website at www.americancorpenterprises.com.

Sandoval seeks repeal of 654 regulations – News – ReviewJournal.com

Sandoval seeks repeal of 654 regulations – News – ReviewJournal.com

Gov. Brian Sandoval on Thursday recommended the repeal of 654 Nevada regulations that he said are either unneeded or a drag on economic growth.

Among them: a rule requiring labels on toilets in manufactured buildings advising of maximum water use per flush. The state Manufactured Housing Division concluded that the regulation is duplicative and unnecessary.

Another recommendation would abolish a requirement that all driver training schools have a physical location in the state. With the growth of Internet-based schools, officials say, mandating a brick-and-mortar site to do business “constitutes an unnecessary burden with little or no increased consumer protection,” the governor’s office said in a statement.

Of the hundreds of rules targeted for repeal, 137 involve the Department of Business and Industry, 120 fall under the Department of Motor Vehicles, and 95 are under the Department of Taxation.

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Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.americancorpenterprises.com.