Alerts

ARMS Now Includes Texas PIRS

For reports due on or after January 1, 2024, the Texas Comptroller of Public Accounts increased the franchise no tax due threshold to $2.47 million and eliminated the requirement for taxable entities whose annualized total revenue is below that amount to file No Tax Due Reports. More information on this update can be found on the Texas Comptroller’s website.

With this change, we are excited to announce that we have added entities below the no tax due threshold to our Annual Report Management Service. In 2025, our team will file Texas Public Information Reports on behalf of our clients.

Texas Business Court

On September 1, 2024, the new Texas Business Court opened for business. The Texas Business Court is a statewide, specialized trial court created to resolve and streamline complex business disputes. The new court has jurisdiction over specific commercial cases, such as corporate governance and derivative proceedings, in which the amount in controversy exceeds $5 million. It may also hear cases exceeding $10 million in controversy for certain commercial transaction and contract disputes. Additionally, the Texas Business Court has jurisdiction over cases against publicly traded companies and began accepting qualified transfers upon opening.

The Texas Business Court is composed of eleven geographical divisions consistent with the existing Administrative Judicial Regions. The First, Third, Fourth, Eighth, and Eleventh divisions are currently operational. They are respectively located in Dallas, Travis, Bexar, Tarrant, and Harris counties and each include multiple surrounding counties. The remaining divisions will begin opening in 2026. Texas Business Court cases must be appealed to the new statewide Fifteenth Court of Appeals.

Capitol Services now includes the Texas Business Court in our litigation searches for jurisdictions that fall within one of the court’s newly opened divisions. As the remaining divisions become operational, we will continue to add the Texas Business Court to your litigation search options. More information, including a map and list of counties served by each division, can be found here.

Due Diligence Through OFAC Searches

Adherence to the U.S. Treasury Department’s requirements to limit tax evasion, money laundering, and terrorist funding is paramount today more than ever. Capitol Services is taking a proactive stance to assist businesses in meeting compliance with the Office of Foreign Assets Control (OFAC) rules regarding individuals and companies with whom U.S. companies are prohibited from doing business. Recognizing the severe consequences that can befall organizations violating these regulations—ranging from civil penalties to criminal charges—we are excited to introduce our latest offering: the OFAC Sanctions List Search. In a world where global transactions are the norm, understanding the background of your transactional parties is of the utmost importance. Doing business with individuals or entities found on the OFAC sanctions list is not only risky — but also illegal. Our OFAC Search adds a crucial dimension to your risk mitigation and due diligence, helping you navigate the intricate web of compliance effortlessly.

The OFAC Search is a new service offering designed to further facilitate due diligence in your transactions. These searches aim to identify whether any party involved in a transaction appears on watch lists maintained by the U.S. Department of Treasury. The searches are now available as a stand-alone service or as part of your preferred lien search package. Integrating seamlessly into your due diligence process, this tool provides an additional layer of security, helping ensure that your business transactions align with federal requirements.

Stay ahead of regulatory challenges and fortify your due diligence efforts with our OFAC Sanctions List Search. Trust Capitol Services to be your partner in compliance and risk management!

A Fresh Take

For this post of Did You Know?, we thought we’d switch it up a bit to give you valuable insight from a client’s perspective on their decision to invest in our Annual Report Management Service (ARMS).

Here’s some Q&A with Capitol Services’ ARMS client Kim M.:

Q: What was life like before enrolling in Annual Report Management Service (ARMS)?
Unorganized. We would file the reports when we got past-due notices.

Q: How has ARMS affected you and your company?
We’ve been able to get our reporting organized with visibility in one place.

Q: How much time would you say that ARMS saves you?
I couldn’t even imagine. With the number of companies we have, it would be a part-time job! Or a full-time job!

Q: What’s it like working with our ARMS team?
It’s great! Everybody is very prompt with their questions in all situations so our filings are made efficiently and on time. The stuff that needs to get done gets done; the ARMS team has been very flexible with our 3rd parties and they keep me on top of everything.

Q: Any unexpected benefits you’ve experienced with ARMS?
I feel more organized when we go into business deals knowing that we’re always in good standing.

Q: What’s one reason you’d recommend ARMS to your colleagues?
I like working with the team. The customer service is wonderful; super-helpful. We’re not just another number; if it’s important to me, it’s important to you guys. And that doesn’t always happen in today’s day.

Q: What would you say to a client who might be considering ARMS?
Do it. Yes, it costs money, but there’s always a cost — it’s whether you want to pay someone on your staff to do it, and not always have the security of them knowing what they’re doing. If it’s not right, you’ll have late fees and more costs to get back into good standing. So there’s always a cost — ARMS is absolutely worth it.

To experience how ARMS can make your life easier, reach out today for a quote.

Your White Glove Agent

Did you know that our company’s Registered Agent services stand out for a couple of key reasons? Instead of relying on virtual mailboxes, our registered office addresses are brick and mortar locations. Rather than outsourcing the processing of your sensitive legal documents received in the U.S. to individuals overseas, we take pride in our in-house capabilities, which result in better quality control and accuracy.

Courtesy of our workflow, we maintain direct authority over our Client Service Representatives (CSRs) who handle Service of Process. We carefully train our CSRs and ensure they have the expertise to handle these critical documents accurately, including the review and approval of each document before it is forwarded to you.

Beyond the benefits of in-house operations, our company takes data security and confidentiality seriously. We have implemented proprietary technology and internal methods that eliminate the need for third-party involvement in storing your Service of Process. This protects your documents and minimizes the risk of unauthorized access.

In addition to our advanced technology and robust security measures, we pride ourselves on providing superior service. When you contact us, you won’t encounter automated responses — instead, you’ll be greeted by a knowledgeable representative ready to assist you promptly and personally.

Choose our Registered Agent services for the peace of mind that comes with our in-house capabilities, rigorous quality control, and commitment to exceptional customer service. Experience the difference for yourself.

MORE INFO

Robust Lien and Litigation Reporting

Our search reports are designed with a focus on clarity and efficiency. We take pride in providing value-add deliverables to our clients at no extra cost.

Our litigation solution offers due diligence at a higher level, covering court jurisdictions that are often ignored by our competitors. This gives you the assurance of mitigating risk and making informed decisions. Our closed litigation reporting clearly specifies when a judgment is found, saving you valuable time when reviewing search results.

We also understand the importance of organization when it comes to large search projects. Our complimentary search findings project spreadsheet is automatically provided with every order. It includes clearer reporting with the ability for user manipulation. At Capitol Services, we strive to provide your results in the way that works best for you, whether it’s a link, a PDF, or a spreadsheet. Our goal is to ensure that you have exactly what you need to make your job easier.