A Corporate Services Company for your Complete Business Life Cycle
3H Corporate Services has solutions for every phase of the business life cycle. Whether you need legal, compliance, or tax solutions we can provide the personal service and secure technology that will help your business thrive. Our commitment is to seeing your company prosper in today’s complex world of ever-increasing regulatory challenges.
The unique nature of every business underlies why we offer one-on-one consultations with our experts. We make sure our clients have the right structures and support in place to help reach their goals. Our services include, but are not limited, to:
Business Formation – Incorporation
We’ve forged long-lasting relationships with thousands of businesses by guiding them though the initial process of forming a corporation or limited liability company.
Incorporating or forming a business means creating a new or converting an existing sole proprietorship or general partnership into a corporation or limited liability company (LLC) formally recognized by the state in which it is formed or incorporated.
When a company is formed or incorporated, it becomes its own legal business structure set apart from the individuals who own the business. Through formation or incorporation, the company’s owners (aka Members in the case of a limited liability company or shareholders in the case of a corporation) create a separate legal entity to transact business. This new business entity transforms the way the business is seen through the eyes of the law and carries more credibility with potential customers, vendors, investors and employees than an unincorporated business form would.
Special Purpose Vehicle Formation
Success, growth and the pursuit of specific initiatives may give rise to the need to create a Special Purpose Vehicle (SPV). An SPV (sometimes known as a Special Purpose Entity – SPE) is created as a separate company with its own balance sheet to isolate financial risk. For instance, it may be used to undertake a risky venture while reducing any negative financial impact upon the parent company and its investors.
Special purpose vehicle compliance obligations are becoming more complex. And since no two SPVs are the same, they often require a unique approach in order to meet their compliance requirements. 3H Corporate Services provides the expert, custom services necessary to create a special purpose vehicle that meets your business needs.
Foreign Qualifications – Registrations to do Business
We help many different types of companies during their formation and growth to navigate the intricacies of foreign qualification and registration.
Foreign qualification is the process of registering to do business in a state other than the one in which you incorporated or formed your business. Corporations and LLCs are considered domestic only in their state of incorporation (for corporations) or formation (for LLCs and other entities besides corporations).
If your company plans to transact business in a state or states other than your state of incorporation/formation, you may need to register your business in those states as a foreign corporation or LLC. This process is called foreign qualification.
There are many factors used to determine whether a company is transacting business in a state, and the criteria differ by state. Some criteria evaluated for foreign qualifications include:
- If the company has a physical presence in the state, such as a corporate office
- If the company has employees in the state
- If the company accepts orders in the state
- If the company has a bank account in the state
If you are uncertain whether your business needs foreign qualification or needs to register to transact business in another state, it’s best to seek the advice of an attorney or accountant. Contact 3H Corporate Services for help.
Trade Name – Fictitious Name Registration
Your business name is valuable and constitutes part of your company’s intellectual property portfolio. It’s an asset you want to protect. Using a trade name, also known as a doing business as (DBA) name, can be an important part of your business strategy. A DBA is simply a fictitious name that is registered with the city, county and/or state in which it is being used, so the public knows who owns the business.
Making the appropriate filings to register your DBA name, and making sure those registrations do not expire, are crucial steps in protecting the asset that is your business name. 3H Corporate Services helps agencies, brokerages, and companies across all industrial and commercial sectors, and of all sizes, ensure they’re properly filed and maintained in good standing.
Statutory State Registered Agent Representation
Statutory representation refers to the mandate imposed by states requiring corporations and LLCs to use a state-registered agent, sometimes referred to as a statutory agent or resident agent.
A registered agent is an individual or company located in the State that serves as the corporation’s or LLC’s official point of contact to receive legal documents and official communications from the state, and forward to them to the corporation or LLC.
This is a statutory requirement, meaning it is required of all corporations and LLCs by the state’s corporation and LLC statutes. It is not optional. And failing to comply with the registered agent requirement can result in administrative dissolution of a resident entity or administrative withdrawal of the Certificate of Authority of the foreign entity, qualified to do business in a state, by the Secretary of State. We serve as registered agent for companies across many different sectors and can do so for all your entities as well.
Secretary of State (SOS) Period Report Preparation and Filing Services
Every state requires some form of periodic report – typically annually or biennially – to be filed with their secretary of state. In most states companies simply submit changes to their address, ownership and officers, and registered agent. Some states require additional information about revenue, assets, stock, and paid-in capital.
Tracking due dates in multiple states and filing on time is often time consuming and complex. A company that registers in multiple states will have due dates at different times.
Companies spend countless hours and resources managing these reporting requirements on their own. Tracking deadlines, gathering information, completing forms, and navigating e-filing portals, can be a time consuming and frustrating process. And the complexity increases for companies with multiple entities or that register in multiple states.
Business Consolidation – Dissolution – Withdrawal
Business dissolution or withdrawal is essentially the opposite of business formation, and another process 3H Corporate Services can assist with.
Business Consolidation is the amalgamation of one or more entities into another entity. Business consolidation reduces your filing/registration footprint and can generate significant savings at the state, revenue, and administrative/professional services level. While consolidation requires, in some cases extensive planning expertise, the resulting streamlined workflow and economic benefits can be extremely worthwhile especially over the longer term.
Business Dissolution is an official filing with the original state of formation terminating the legal existence of the company throughout the country.
Business Withdrawal is the process of putting an end to the company’s right to do business in a particular state; however, it can continue to exist and do business elsewhere.
Contact Us to learn how we can manage any of these filings on your behalf.
In addition to the above services, we provide comprehensive specialty insurance services across the entire spectrum of the insurance space. So whether you are an independent retail producer (agency or brokerage), excess or surplus lines brokerage, adjuster, reinsurance intermediary, aggregator, wholesaler, Third Party Administrator (TPA), Managing General Underwriter (MGU), Managing General Agency (MGA), Premium Finance Company or other insurance vehicle, we have the expertise to help.
Contact Us to learn how we can help you manage your licensing, corporate registration and income and Surplus Lines tax report portfolio in-house using the Creative Compliance Hub software platform, or on an outsourced service basis through our expert insurance compliance team.