California

The Uniform Limited Partnership Act of 2008 takes effect January 1, 2008 and will require new filing forms. http://www.sos.ca.gov/business/pdf/ab339_notice.pdf
New Statement of Information forms for corporations also will be required as of January 1, 2008. http://www.sos.ca.gov/business/corp/pdf/so/sb998_notice.pdf

Colorado

Colorado Secretary State Business Division announced certain online filing fees will increase effective January 1, 2008. Online filing fees for formation documents go up from $25 to $50, annual report late filing penalties increase from $20 to $40, and reinstatement and curing delinquency statement fees increase from $50 to $100.

In addition, trademark registration increases from $1 to $50, trade name statement from $1 to $20 and subsequent filings (correction, change, renewal, withdrawal) for trademark and trade name increase from $1 to $10. The new fee schedule can be accessed at http://www.sos.state.co.us/pubs/info_center/fee_schedule_01-01-08.htm.

Federal

The Authentications Office of the United States Department of State will increase its fee from $7.00 to $8.00 per document for authentication of state certificates and seals as part of the process to legalize documents for use in another country.

Kentucky

Foreign limited partnerships, limited liability partnerships and business trusts qualified in Kentucky prior to June 26, 2007 under former statutes must re-qualify prior to December 31. The Secretary of State will consider any existing foreign LP, LLP or business trust that does not qualify by January 1, 2008 to be cancelled.

Maryland

Senate Bill 2a, Tax Reform Act of 2007, approved by governor November 19 after special session and effective January 1, 2008, attempted to address a $1.3 billion budget shortfall by, among other things, increasing the state sales and use tax from 5% to 6%, increasing the corporation income tax rate from 7% to 8.25%, and imposing a recordation tax on transfer of a controlling interest in real property entities as if real property owned by the entity was conveyed. Text of the bill can be accessed at
http://mlis.state.md.us/2007s1/chapters_noln/Ch_3_sb0002E.pdf.

Tennessee

The Secretary of State Business Services Division enforces statutory penalties for failure to qualify before transacting business in Tennessee. A foreign corporation is liable for 3 times the amount of fees, taxes, penalties and interest for each of the years the corporation transacted business without a certificate of authority. A foreign LLC is liable for 3 times the otherwise required filing fee for each year the LLC failed to have authority. A foreign LP shall be fined $200.00 for each year the LP failed to register in TN. In addition, a business entity transacting business without authority may not maintain a proceeding in state courts, but failure to obtain a certificate of authority does not impair validity of contracts or prevent the entity from defending in state courts.

Texas

Changes to reports due under the franchise tax law take effect January 1, 2008 including taxable entities (including partnerships, professional associations, joint ventures, business trusts and other entities); rate (1.0% for most entities, 0.5% for entities primarily engaged in retail or wholesale trades, or E-Z rate of 0.575%), and tax base (margin instead of taxable capital and earned surplus). Detailed information is available on the website of the Comptroller of Public Accounts at
http://www.window.state.tx.us/taxinfo/franchise/ft_revised.html.

International

Province of British Columbia, Canada

The British Columbia Corporate Registry completed a release of Phase Two online alteration and dissolution filings for unlimited liability companies and a modification for partially completed filings in Corporate Online. All self-serve online filings for unlimited liability companies will be available by early 2008.
https://www.corporateonline.gov.bc.ca/corporateonline/colin/static/colin/html/index.html

Hong Kong

December 14 is the commencement date for provisions concerning non-Hong Kong companies (formerly known as oversea companies) in the Companies (Amendment) Ordinance 2004 and the Companies Ordinance (Amendment of Eighth Schedule) Order 2007. A new annual return is required to be filed within 42 days after each anniversary date of registration under Part XI of the Companies Ordinance with an annual registration fee of HK$180. If the annual return is filed late, the fee increases on a sliding scale to a maximum of HK$4,800 if more than 9 months late. A Companies Registry press release describing the changes can be accessed from
http://www.cr.gov.hk/en/publications/press20071018.htm

Motor Vehicle Updates

Alabama

It is currently taking up to fourteen weeks for Alabama DMVs to issue new titles.

Indiana

Vehicles registered in Lake and Porter County, Indiana are now required to undergo emissions tests. Odd numbered model year vehicles are due to be tested in odd numbered calendar years and even number model years are due to be tested in even numbered calendar years. The four newest model year vehicles are exempt - '08, '07, '06 and '05.

The driver must bring their Indiana Application for Vehicle Registration Renewal or their current registration to the test site. The original emissions certificate is required; the Bureau of Motor Vehicle will not accept a copy. There is no charge for the test.