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Effective August 1, 2010, a domestic stock or non-stock for profit corporation incorporated in the State of Delaware is required to pay annual franchise tax. The minimum tax is $75.00 for corporations using the Authorized Shares method and a minimum tax of $350.00 for corporations using the Assumed Par Value Capital Method. All corporations using either method will have a maximum tax of $180,000.00. Corporations owing $5,000.00 or more make estimated payments with 40% due June 1st, 20% due by September 1st, 20% due by December 1st, and the remainder due March 1st.

The Annual Franchise Tax assesment is based on the authorized shares. Use the method that results in the lesser tax. The total tax will never be less than $75.00 or more than $180,000.00.

Non-Stock for Profit

All non-stock, for profit entities that do not comply with the Exempt Corporation requirements will be required to pay a Franchise Tax of $75.00 effection August 1, 2010.

Authorized Shares Method

For corporations having no par value stock the authorized shares method will always result in the lesser tax.

5,000 shares or less (minimum tax) $75.00

5,001 – 10,000 shares – $150.00

each additional 10,000 shares or portion thereof add $75.00

maximum annual tax is $180,000.00

For Example

A corporation with 10,005 shares authorized pays $225.00 ($150.00 plus $75.00)
A corporation with 100,000 shares authorized pays $825.00 ($150.00 plus $675.00[$75.00 x 9])

Assumed Par Value Capital Method

To use this method, you must give figures for all issued shares (including treasury shares) and total gross assets in the spaces provided in your Annual Franchise Tax Report. Total Gross Assets shall be those “total assets” reported on the U.S. Form 1120, Schedule L (Federal Return) relative to the company’s fiscal year ending the calendar year of the report. The tax rate under this method is $350.00 per million or portion of a million. If the assumed par value capital is less than $1,000,000, the tax is calculated by dividing the assumed par value capital by $1,000,000 then multiplying that result by $350.00.

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Posted in finance | Tags: taxes

Posted by: max | March 2, 2010

Estimated Quarterly Corporate taxes

For estimated tax payment purposes, a year is divided into 4 payment periods.

- Each period has a specific payment due date.

- If you don’t pay enough tax by the due date of each period, you may be charged a penalty

Estimated tax payment due dates are:

For the Period	Due Date for Corporations
January 1-March 31	April 15
April 1-May 31	June 15
June 1-August 31	September 15
September 1-December 31	December 15 (NOT January 15 of following year)

A corporation has the same estimated tax payment due dates for the first three periods. However, its last payment is due on December 15 (rather than January 15 of the following year).

More info:

- TaxAct – http://www.taxact.com/reference/library_calendar.asp

- MSN – http://articles.moneycentral.msn.com/Taxes/taxcal.aspx

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Posted in finance | Tags: taxes

Posted by: max | November 30, 2009

SSH, SVN and Ubuntu Integration

Subversion Set Up With Windows on Ubuntu

1) Download Putty, Plink, and PuttyGen
2) Save them all somewhere on your path. (I suggest putting C:svnbin in your path, so that will work nicely)
3) Edit C:Documents and Settings{your username}Application DataSubversionconfig . Skip down to the portion of the file about tunnels. Right under the uncommented [tunnels] line, add this EXACTLY without the quotes: "ssh=plink"
4) Open PuttyGen. Hit generate new key, move mouse around like it instructs, get key generated. Copy it to the keyboard, hit Save Private Key, toss it somewhere convenient (I used C:Documents and Settings{your username}.ssh{slice name}.ppk
5) Open Putty. follow these directions exactly: your hostname is {your deployment logon}@{your hostname}. From the left hand pane, click SSH to expand it, go down to Auth, click Browse, navigate to the key file you saved in step #4, and open it. Now, back to the main screen of Putty, and save this session as a name, like "Dreaming".
6) Login to host using the session you just made. You should see it complain that the server rejected your key.
7) "mkdir ~.ssh" on host
8) echo "[click your right mouse button to paste in that key you copied earlier]" > ~.sshauthorized_keys

9) Log out.
10) Log back in using the same session from Putty. If your key was accepted (it will say [Authenticating with public key "rsa-key-{datestamp}"]), you win.
11) Edit config/deploy.rb on your localhost. Locate the line which says repository. Change it to

set :repository, "svn+ssh://{your login name}@{the SESSION NAME which you saved from step #5}/usr/local/svn/#{application}"

12) Back on your local machine, "cap setup_scm"

If you don’t see either "Couldn’t create tunnel" or "Failed to create transaction" near the bottom of all the stuff that sailed by, congrats, you’re probably set up with a newly checked out copy and an up-to-date repository.

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Posted in webdev | Tags: ssh, svn

Posted by: max | March 30, 2009