Scrambling for every possible source of income to make up for shrinking tax revenues and growing deficits, states are following the federal government?s lead in raising taxes/fees on businesses. In spite of the adverse affect of this action, we?ve already seen increases in many states. States such as Nevada, once the safe harbor of many corporations and LLC, is sure to have witnessed decreases in filings and annual renewals of charters because of their 260% increase in post-filing and annual reporting fees.
Now, Oregon is raising many of their filing fees and annual report fees this Saturday. Under voter-approved Ballot Measure 67, select Corporation Division fees will increase February 27, 2010. This is expected to contribute up to $30 million dollars to the General Fund during the 2011-2013 biennium to support public education, health and safety. Articles of formation, supplements and annual reports on for-profit corporate entities - will increase to $100 for domestic entities and to $275 foreign for entities. For more information about your state?s fees, go www.smallbiz.com and then find the State Research area.