Maryland – Legislation Proposed to Eliminate Annual report Filing Fees
The State Department of Assessments and Taxation (SDAT) January 10 issued a release that the governor proposed legislation to eliminate the $300.00 filing fee for business entities which file annual reports online using the Maryland Business Express website. The SDAT release indicated there are 462,082 business entities in good standing compared to 415,734 in January 2021 and 391,768 in January 2020. House Bill 409 and Senate Bill 403 if enacted would take effect July 1, 2022 and apply to annual report filing fees after April 15, 2023. The bill text can be accessed at https://mgaleg.maryland.gov/2022RS/bills/hb/hb0409F.pdf and https://mgaleg.maryland.gov/2022RS/bills/sb/sb0403F.pdf
Colorado – Business Fee Relief Act Introduced to State Assembly
The Secretary of State posted a release regarding the introduction of House Bill 1001, the Colorado Business Fee Relief Act, which proposes effective July 1, 2022 to reduce filing fees to $1.00 for new business registrations, annual business renewals, registrations of new business trade names, renewals of trade names, and statements of change for registered agent information and address. The $1.00 fee will enable the filing office to continue credit card transaction processes that are essential to confirming identities and reducing fraud in the business registry. Colorado’s 2022 legislative session is scheduled to adjourn May 12. The bill text can be accessed at C:\1001_01.txt (colorado.gov) and the press release can be accessed at News Release (state.co.us).