1 / 30

Best Practices: Expedited Services

Best Practices: Expedited Services. Presenters. Scott Anderson, scotta@sos.nv.gov Deputy Secretary, Commercial Recordings Nevada Secretary of State Julia Dale, dalej@michigan.gov Director, Corporations Division Michigan Department of Licensing and Regulatory Affairs

benard
Télécharger la présentation

Best Practices: Expedited Services

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Best Practices: Expedited Services

  2. Presenters Scott Anderson, scotta@sos.nv.gov Deputy Secretary, Commercial Recordings Nevada Secretary of State Julia Dale, dalej@michigan.gov Director, Corporations Division Michigan Department of Licensing and Regulatory Affairs Marissa Soto-Ortiz, marissa.soto-ortiz@sec.state.ma.us Assistant Director, Corporations Division Office of the Secretary of the Commonwealth of Massachusetts

  3. Michigan Corporations Division Expedited Service Requests

  4. In the beginning . . . • November 21, 2006, then Governor, Jennifer M. Granholm signed bills establishing expedited services; the new laws became effective January 1, 2006. • Public Acts 217-220 allowed businesses to request expedited services for a fee in order to meet their time constraints or deadlines to file corporation paperwork.

  5. The nonrefundable expedited service fees are in addition to the regular fees applicable to the specific documents. • Expedited review and filing (if fileable) is available for all documents for profit corporations, limited liability companies, limited partnerships and nonprofit corporations.

  6. Unless expedited service is requested, documents will continue to be reviewed in the order received • For documents submitted via mail, including FedEx, UPS, etc,. the expedited service time starts once the document is stamped received in our Division.

  7. New Expedited Services • One hour ($1,000) Review completed within one hour on day of receipt. Document and request for 1 hour expedited must be received by 4 p.m. EST or EDT. • Two hour ($500) Review completed within two hours on day of receipt. Document and request for two hour expedited service must be received by 3 p.m. EST or EDT.

  8. Same day ($100 for formation documents and applications for certificate of authority; $200 for any document concerning an existing entity.) Review is completed on day of receipt. Document and request for same day expedited service must be received by 1 p.m. EST or EDT. • 24-hour service ($50 for formation documents and applications for certificate of authority; $100 for any document for an existing entity.)

  9. Expedited Services Apply to: • Certificates & Copies • Documents • Annual Reports • Annual Statements

  10. 2006 Expedited Services Enacted

  11. In 2006, total revenue for the Division was approximately $21,907,341. Expedited Services Fees for that year accounted for approximately 5% of the total revenue. • FY 2010 expedited fees = 3% of revenue • FY 2011 expedited fees = 2.2% of revenue • FY 2012 expedited fees = 1.8% of revenue • FY 2013 expedited fees = 2.9% of revenue

  12. Total Documents & Total Expedited Documents

  13. Expedited by Type

  14. Total Annual Reports/Statements and Total Expedited Annual Reports/Statements

  15. Customer Driven. Business Minded. • Michigan’s Dashboards were implemented by Governor Rick Snyder to provide a quick assessment of the state’s performance in key areas. • Since December 2012 the Corporations Division has reported (on a monthly basis) the percentage of non-expedited documents reviewed within 3 days. The statutory review period is 10 days.

  16. Michigan Corporations Division’sDashboard Metrics • Although customers continue to utilize our expedited services; the majority (over 92% in 2013) do not. • Our dashboard metrics from 2012-2014 reveal that an overwhelming majority of the documents submitted to the Corporations Division are reviewed within 3 days.

  17. Document Review Yearly Averages • 2012: 110,652 received, average of 96.67% reviewed within 3 days. • 2013: 138,814 received, average of 96.22% reviewed within 3 days. • 2014: (Jan 1st – April 24th) 51,123 received, average of 95.08 reviewed within 3 days.

  18. Massachusetts Expedited Filings The Online Filing System

  19. Massachusetts Online Filing • Expedited filings are done through the online filing system • All filings may be filed through the online filing system • Expedited services fees are based on the filing fee • Filings are received before 4pm are reviewed that day.

  20. Filings received in the proper order through the online filing system will be time stamped with that specific time. • Filings are reviewed and approved in chronological order as received by the system. • Rejection notification is also expedited through this service.

  21. Expedited Fee Schedule • Transaction Cost Transaction fee $0.00 – 14.99 $3.00 $15.00 - 24.99 $3.50 $25.00 – 74.99 $5.00 $75.00 – 84.99 $6.00 $85.00 – 99.99 $8.50 $100 – 109.99 $9.00 $110 – 149.99 $10.00 $150 – 199.00 $12.00 $200 – 499.00 $15.00 $500.00 $20.00 Over $500.00 4.5% of filing fee

  22. Expedited Fees • Expedited fees are not kept by the Division • The Division gets a credit with contractor for every so many transactions. Each credit is equated with one full-time employee or contractor. • The expedited fees allow us to maintain the system.

  23. Electronic Filing Volume 2001 – 4029 2008 – 269,455 2002 – 23,131 2009 – 269,937 2003 - 59,540 2010 – 297,542 2004 - 152,079 2011 – 325,609 2005 - 169,558 2012 – 368,103 2006 - 194,608 2013 – 369,213 2007 - 228,494 2014*- 172,181 * As of April 23, 2014

  24. Expedited Filings v. Paper • The introduction of the online (expedited) filings system has changed the way the public files in Massachusetts. • In 2002 over 182,000 annual reports were filed in paper, and could take months to review. • In 2013 over 320,000 annual reports were filed and are on the system within 24 hours.

  25. Expedited Filings vs. Paper

  26. Expedited Filings A Nevada Perspective

  27. Nevada Perspective • Enabling legislation passed in 1987 • Backlogs/Customer Demands • 24-hour only • $50 per service • Special Revenue Account • Legislature saw as funding mechanism • Fee raise to $100 (1991) • Excess swept to General Fund at FYE

  28. Nevada Perspective (Cont.) • 1-hour, 2 hour and 4- hour Service offered • 24-hour still more popular • $500 for 2-hour, $1000 for 1-hour • 2005 – ½ to Gen Fund, ½ to Special Revenue • 2006 – Peak in Fees $11.5 Million • 2009 – Spec Revenue Account Terminated • 2007 – Current – Decreasing Revenue

  29. Nevada Perspective

  30. Nevada Perspective • Issues • Backlogs and Regular Filings • Online Services • To Charge or Not to Charge • Budget/Reliance on Revenue Stream • Legislative/Political

More Related