Monthly Archives: April 2016

Applicable Federal Rates for May 2016

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 2016:

Short Term AFR (Loans with Terms <= 3 Years)                                          0.67%

Mid Term AFR (Loans with Terms > 3 Years and <= 9 Years)                    1.43%

Long Term AFR (Loans with Terms >9 Years)                                              2.24%

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

Here is a link to the complete list of rates:

E. John Wagner, II

May 1, 2016 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 2016 Florida Annual Uniform Business Report for Florida business entities and non-Florida entities registered in Florida is May 1, 2016. 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, 2016. Failure to file a Florida Annual Report for 2016 will result in the administrative dissolution or revocation of an entity in September 2016.

May 1 falls on a Sunday this year.  To reduce the risk of a problem filing on a non-business day, we recommend filing by Friday, April 29, 2016.

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

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