Simplify Missouri Corporations Classifications
During my Missouri business training seminars I have had the opportunity to speak with many, many business owners all over the State. Anyone starting a business in Missouri for the first time will quickly learn how incredibly complicated it can be to start or upgrade any Missouri corporation because our State has some of the most complicated corporational laws in the country. I want to change that.
To create jobs we must motivate entrepreneurs to start or expand businesses in Missouri. We need to motivate a person that is thinking of starting a business for the first time to start that business now. We need to embrace companies that are currently located in Missouri by giving them the financial incentives they need for growth and expansion. We need to inform out of state companies that we want their business and will do whatever it takes to make Missouri their business destination of choice. To make it easier for a business to start or expand, we must simplify Missouri's complicated corporational structure. Simplification of the Missouri corporational process will also make Missouri much more appealing to out state business owners.
The Missouri Secretary of State's Schedule of Corporation Fees and Charges is the official State corporations classifications document and contains 68 different corporational instructions for every business that operates in Missouri. On the Secretary of State's Corporation Schedule of Fees and Charges you will find that Missouri businesses are charged certification of pro-forma decree of incorporation fees, foreign qualification fees, abstract fees, certificate of withdrawal fees, mergers with LLC's as a surviving entity fees, certification of corporate record fees, acceptance of chapter 355 fees, along with many other confusing state regulatory fees. Because of these stringent rules most business owners must hire an attorney to interpret the vast array of Missouri business classifications before starting or expanding a Missouri business. I want to change that.
When you start a business in Missouri you will operate under one of five Missouri business entities. You can open a business in Missouri as an Individual, a Partnership, a Corporation, a Limited Liability Corporation, or as a Not For Profit Corporation. I will introduce legislation that will simply the process of opening a Missouri business by reforming the Secretary of State's Corporation Schedule of Fees and Charges to include only five business filing categories instead of sixty-eight. I also want to reduce the filing rate of any new business to a standard one time fee of $25.00. This filing fee will cover the necessary costs to enter your business into the Missouri Secretary of State's database so they can obtain the information they require for every business in Missouri. The one time fee will also cover the costs of any future upgrades to your corporation status so you will not be charged additional fees if you decide to grow and expand your business.
We can't let this complicated corporational document intimidate business owners and impede the future growth of Missouri industries. Simplifying the Secretary of State's Corporation Schedule of Fees and Charges will reduce the cost of incorporating a business in Missouri, will make it easier to expand a business in Missouri, and can help speed up Missouri's economic recovery. It will also help create new Missouri jobs.
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