As the result of recent revisions to Delaware's Corporation Franchise Tax laws, the State of Delaware is requiring mandatory electronic filing of Annual Franchise Tax Reports. The revisions were effective as of January 1, 2008, and electronic filing of reports will be required beginning with 2007 Annual Franchise Tax Reports due on March 1, 2008. Information concerning the Annual Report and Tax Payments may be found at http://corp.delaware.gov/frtax.shtml and online filing may be completed at https://delecorp.delaware.gov/eCorp/FilerHome.

The annual report notice procedure has also changed. Paper copies of the annual report will no longer be sent to a company's registered agent in Delaware. Postcard notifications will be received that will include instructions for e-filing and e-payment.

Filing annual reports and payment of the applicable taxes and fees is imperative for maintaining your business registration and good standing. Delaware's new law emphasizes the necessity for filing complete Annual Franchise Tax Reports and payment of appropriate fees. Otherwise, good standing certificates may not be issued and the company's charter may be automatically revoked if a "complete" report is not filed within one year. Please contact MacElree Harvey with questions or for assistance.