As an incorporation service provider, I generally know how long it takes to get someone incorporated in most states. But my time estimates are going out the door, due to state budget cutbacks, and staff layoffs. Now is NOT the time to delay getting your incorporation done!
My home state of Nevada is a great example. For the past several years I could count on an incorporation being done in 5 business days, and perhaps going up to 7 days around peak holiday periods.
But no more. The Department of Taxation offloaded its collection responsibilities onto the Secretary of State’s office this year. Yet all that extra work didn’t translate into any extra staff, and many Nevada government workers have had their hours of work cut.
All of these issues are adding up to significant delays. For example, I’ve been waiting on an incorporation for 12 business days now. Calling the government has been exasperating — hold times are averaging 15 minutes or longer. After trying for the 3rd time this week to get through (and holding for 20 minutes), I learned that the Secretary of State’s office is processing work dated November 2nd. That means they won’t get to my November 5th submission for several more days.
Nevada isn’t alone. I’ve had an outstanding issue with Arizona for a month now, and California just took 5 weeks to process something that used to take about 10 days.
Now … let’s throw Thanksgiving and Christmas into the mix, add holidays, parties, and stir it all up into a recipe for some SERIOUS delays.
I am concerned that many of you will get caught in this trap and you won’t get your incorporations or business work done on time. If your year-end tax planning involves finally getting around to creating that corporation or LLC, don’t delay. The way I see it, if you want something guaranteed by the end of December, you’d better have your paperwork in by the end of November, if not sooner.
And if you’ve been thinking about tax planning but have been putting it off, you’ll want to move on that, too. You can still come over to US TaxAid Services to arrange for a free review of your return, or to get started right away with one of our tax professionals. There’s a program for everyone, with low monthly pricing, PLUS you’ll get two returns prepared at no extra cost. Check it out, or give Richard Cooley a call at 866-829-2368.
Tags: Business • corporation • incorporation • incorporation delays • late incorporation • LLC • long wait times • missed tax savings opportunities • state offices