One of the more confusing aspects of compliance is staying on schedule with multiple sets of deadlines and constantly changing regulations at the state and federal levels. Annual report filings, sales and use tax payments, business license and permit renewals - these documents can pile up quickly, especially when managing compliance for multiple companies. Additionally, corporations must hold and properly document initial and annual meetings of directors and shareholders, and LLCs are recommended to do the same for members/managers.
Failure to meet the requirements for compliance can lead to serious repercussions for an organization - financial penalties, temporary loss of business operations (leading to revenue loss), and the impacted reputation of the company in the eyes of the state, which can impede progress and reduce the opportunities for future contracts and financing. The constant monitoring of these items can seem like an impossible task, and can be a source of great stress.
CTProComply solves this issue by incorporating a Compliance Calendar that allows you to track all of these critical, time-sensitive events for all your managed entities in one place. Quickly sort through action items in a clean, understandable interface that works with you to stay ahead of problems. You don't have to worry about missing deadlines of which you weren't aware either, as the Compliance Calendar uses built-in data to determine due dates for your items, and can be updated as information changes, based on the specific states in which your companies are registered. It will pre-populate certain tasks that correspond to standard practices such as sales and use tax payment dates without any additional effort after the initial company information set-up is complete.
You can even add custom alerts to the Compliance Calendar for any event you may want to keep track of for your particular business, and integrate this data with the system data, so you can see and track all your events and actions together. Reminder alerts are displayed prominently online in your account and also sent via email so you don't have to worry about missing a single deadline, and they can be sent to anyone, even individuals who are not active users of your CTProComply account. It's like having a personal assistant always there to remind you of what needs to be done, and helping you do it easily.