Lieutenant Governor Tregenza A. Roach, Esq. reminds business entities of the upcoming June 30, 2020 deadline to submit annual filing requirements for profit and non-profit corporations, all partnerships, and limited liability companies. Franchise taxes and filing fees are due to the Division of Corporations and Trademarks and are necessary for all entities to remain in Active/In Good Standing status and to conduct business in the Territory.
The Division of Corporations and Trademarks is providing access to its offices by appointment only through June 30, 2020 while practicing social distancing and wearing face coverings to reduce the spread of COVID-19. Please contact the division to schedule an appointment by calling St. Thomas/St. John at 340-774-2991 and on St. Croix at 340-773-6449.
Payments and filings can be made on the division’s online Catalyst system at: www.corporationsandtrademarks.vi.gov. The Catalyst system is accessible 24 hours-a-day, seven days-a-week. Instructions on how to create a user account, request authority over existing businesses, complete the Update Profile Service and submit filings are available at https://ltg.gov.vi/departments/corporations-trademarks/.
All non-profit corporations and limited partnerships have an annual report fee of $25.00 and $150.00 respectively, to maintain a status of Active/In Good Standing. Failure to submit franchise taxes and annual filing fees to the division on or before the statutory deadline will result in a status of registered, assessment of penalties on July 1, 2020, and the inability to file amendments.
Trade name owners are reminded to renew their trade names with the online Catalyst system. This should be done within the six-month window prior to the expiration date to remain in current status. Failure to renew the trade name in accordance with the statutory compliance mandate will result in a status of registered. Additionally, a forfeiture of the trade name will occur six months after the expiration date to the next party that files a trade name application and submits the registration fee.
For more information relative to submitting the franchise taxes, annual report and trade name renewal filings, please contact the Division of Corporations and Trademarks at: 340- 774-2991 on St. Thomas/St. John and 340 773-6449 on St. Croix or visit our website at: https://ltg.gov.vi.