Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Wednesday, November 07, 2007

Read The Fine Print
It looks like an official notice from your state titled "Annual Minutes Disclosure Statement" or some similar sounding official title with an annual fee of $125 (in New York; $95 in another state; $175 in still another). At first glance it looks pretty convincing; some have a seal in the left-hand corner, the language is persuasive, the address is in the state capital, etc., but it's just another scam. Amongst the verbiage you'll see the disclaimer. But you can't toss all such notices. Many states do have an annual report or similar filing requirement. You don't want to run afoul of the corporate, LLC, etc. rules in your state. Another point. The scam artists are right about one thing. You should have annual shareholder and director meetings. It sounds foolish for a corporation with one shareholder and one officer to have a meeting and elect directors, but you should still go through the motions. You should be able to find help on line or talk to your attorney.

A/N Group Inc.


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