Monthly Archives: April 2015

Final Reminder: May 1, 2015 Deadline to File Annual Reports With Florida Department of State for Corporations, LLCs, and Other Business Entities

The Florida Department of State deadline for filing a 2015 Florida Annual Uniform Business Report for Florida business entities and non-Florida entities registered in Florida is May 1, 2015. A non-negotiable late fee of $400 will be added to the Department of State fee for entities that file their Florida Annual Report after May 1, 2015. Failure to file a Florida Annual Report for 2015 will result in the administrative dissolution or revocation of an entity in September 2015.

Annual Reports must be electronically filed at the Florida Department of State’s website:
www.sunbiz.org.

Even if you have a professional registered agent, it is your responsibility to file the annual report. If you need assistance, please contact us.

E. John Wagner, II
jwagner@williamsparker.com
941-536-2037

Congress Ends the Medicare Sustainable Growth Rate Formula and Begins Replacing the Fee For Service System

President Obama signed the Medicare Access and CHIP Reauthorization Act of 2015, on Thursday April 16. The Act repeals the long complained about Sustainable Growth Rate formula for computing Medicare reimbursement rates, which had resulted in the annual “Doc Fix” legislation for the last 17 years. The Act also begins the conversion from the Fee For Service system, which has been the way Medicare claims have been paid for 50 years, to a “value-based payment” system. The value-based payment system is designed to promote efficient care by shifting the burden and benefit of efficient care to physicians. There is much debate about the possible effects and side effects of the shift in payment.

The Act, known as MACRA, raises Medicare premiums on persons with incomes over $133,500 ($267,000 per couple), starting at 50% increases up to 80%. The willingness of Congress to index premiums to income in a bipartisan bill (it passed the Senate 92-8) is seen by many as a sign that compromise is possible on both long-term Medicare sustainability and in the event the Supreme Court uses the King v. Burwell case this summer to strike down portions of the Accountable
Care Act.

To gain a broader understanding of the Sustainable Growth Rate and Value-Based Payment impact of MACRA, please see the presentation linked here.  Recent Developments In Healthcare

John L. Moore
jmoore@williamsparker.com
941-329-6620

Applicable Federal Rates for May 2015

The Internal Revenue Code prescribes minimum imputed interest rates and time-value-of-money factors applicable to certain loan transactions and estate planning techniques. These rates are tied formulaically to market interest rates. The Internal Revenue Service updates these rates monthly.

These are commonly applicable rates in effect for May 2015:

Short Term AFR (Loans with Terms <= 3 Years)                                          0.43%

Mid Term AFR (Loans with Terms > 3 Years and <= 9 Years)                     1.53%

Long Term AFR (Loans with Terms >9 Years)                                              2.30%

7520 Rate (Used in many estate planning vehicles)                                     1.8%

Here is a link to the complete list of rates: http://www.irs.gov/pub/irs-drop/rr-15-08.pdf

E. John Wagner, II
jwagner@williamsparker.com
941-536-2037