Structure Maintenance & Renewal FAQs
There are seven states currently charging mortgage recording taxes: Alabama, Florida, Kansas, Minnesota, New York, Oklahoma and Tennessee. Rates vary from state-to-state. The low end being states like Tennessee, where the tax is $0.115 per $100 of mortgage principal, with the first $2,000 exempt. The high end includes states like New York State, with a basic tax of $0.50 per $100 of mortgage principal, with additional taxes of $.025 – $1.25 per $100 of mortgage principal based on special conditions. This is a one-time fee and it legitimizes the structure in both form and substance.
Over the past 10 years most Secretary of State’s offices have jumped on the digital bandwagon. Almost all of them now email certificates of formation for entities. In the old days, they would mail them and in some cases, they had brightly colored certificate on thick paper. Nevada was famous for its nice colorful certificates.
But, in the interest of saving money this practice has changed. Most states now email the led certificates. Wyoming is one of those states.
The certificate that was given to you was emailed to our company by the Wyoming Secretary of State as a PDF attachment. We simply save that PDF attachment and then forward it onto our client’s folder. Your company is filled and is legitimate.
Based on our years of experience with our clients we know that support from our team goes a long way especially if you have questions and specific case studies you need prompt answers on. Our annual fee includes the extra support you will need. The KMAGB Annual Fee includes: state fees, resident agent fees, the annual report fee and the year access to our team of CPAs and attorneys to ask any questions that may come up over the year regarding your asset protection structure.
For example, last week one of our clients needed assistance in working with a bank to refinance. We assisted him and guided him through what changes needed to be made for the refi and post refi. We are totally fine with you using another registered agent and keeping up with the fee. Just note that if you decide to do that we will note your record and no longer keep up with the reminders to pay into your structure or renew. If you end up having questions the $99 consultation fees will be billed to you. We bill $99 every 30 minutes.
The KMAGB Registered Agent fee includes:
- State fees
- Resident Agent Fees
- Annual Report Fee
- One year of Asset Protection Support and Consulting
- 20 pieces of mail forwarding for the year. (Any mailings we receive will be sent to you to forward on to any U.S. address. If you go over the 20 pieces you can get a mail forwarding package that is $29 a month or $295 a year.)
- You can also use our address since we are listed as their registered agent. (Address provided once your structure is set up.)
If our Registered Agent receives any legal process on behalf of your corporation, such as a civil summons and complaint or garnishment, the paperwork is logged, scanned, and forwarded to you by first class mail and email. Our team of Registered Agents are Accredited members in good standing with the Better Business Bureau. For our fee, you can enjoy the personalized service you deserve!