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New Montana Laws Regarding Business Filings Effective Oct. 1

Secretary of State Bob Brown reminded Montanans Monday that a number of
changes in the way businesses file documents with his office will take
effect Oct. 1. The changes include a reduction in some fees and elimination
of others, as well as streamlining of the filing process.

Some of the changes are due to a new law passed by the 2003 Legislature at
the request of the Secretary of State’s Office. The revised filing fees are
the result of an administrative change that Brown initiated.

"Our customers and staff were frustrated by time-consuming requirements of
state law that were no longer relevant or necessary," Brown said. "So we
took a good, long look at cleaning up the requirements so our customers can
get faster and more efficient service.

"As we worked toward greater efficiency, we discovered that our business
fees were beginning to exceed our costs," he added. "So we need and want to
return those efficiency savings to our customers."

He noted that his office is also working hard to revise its business forms
to make them easier to understand and fill out.

Perhaps the most far-reaching change, Brown said, will be the elimination
of a cumbersome and confusing fee schedule for corporations. Currently,
corporations pay anywhere from $70 to $1,000 to register with the Secretary
of State’s Office. The amount depends on whether the business is domestic
(located in-state) or foreign (headquartered outside Montana but doing
business in the state). It also depends on how many shares of stock the
company offers.

Under the new fee plan, the filing fee for all for-profit corporations will
be $70. Nonprofit corporations will continue to pay $20 to register.

Other fee changes include:

ï A $50 reduction in the registration fee for limited liability
partnerships.

ï Elimination of $5 fees to cancel registration of limited liability
partnerships and assumed business names.

ï A reduced $30 fee to reinstate domestic corporations that have been
dissolved.

Passage of House Bill 194 has led to several other changes. The bill:

ï Eliminated the need for businesses to provide a copy as well as the
original of the documents they file with the Secretary of State’s Office.

ï Clarified that registered agents and corporate officers and directors
must supply their mailing addresses on annual reports.

ï Eliminated the need to supply the current registered agent’s name when
changing to a new registered agent.

ï Provided for signatures from more than just the secretary when foreign
corporations file assumed business names.

ï Eliminated a second 90-day notice for renewal of limited liability
partnerships.

ï Required corporations and limited liability corporations to file back
annual reports when they are reinstated following dissolution.

ï Provided for domestic limited partnerships to be reinstated following an
administrative cancellation.

For more information about the business filing changes, contact the
Business Services Bureau of the Secretary of State’s Office at 444-3665 or

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