As a courtesy for our business owner clients, DSI is pleased to provide this reminder regarding the following urgent and timely state and federal compliance updates. If you have additional questions about ensuring the compliance of your business, contact us toll-free at 888-337-9322. Thank you for partnering with Darr Schackow Insurance as your policy provider!
Updates for Federal Minimum Wage Poster & Employee Polygraph Protection Act Poster
The Department of Labor has recently revised two federal labor law postings requirements. The updates are considered mandatory with an effective date of August 1, 2016, and are required to be posted in all U.S. workplaces after that date.
Both posters are part of the standard all-in-one poster that contains all state and federal employment posters that Florida businesses must display at their place of business.
As a convenience for our clients, and to make sure you’re kept up-to-date with regard to following the latest regulations, DSI has made both new sections of the all-in-one poster available for downloading here.
To ensure that your business is in compliance with the new posting requirements, simply download the new sections and place them over the old panels for Federal Minimum Wage and the Employee Polygraph Protection Act on the all-in-one poster.
The new Federal Minimum Wage poster reflects updated Fair Labor Standards Act enforcement rules, including:
- The consequences of incorrectly classifying workers as independent contractors
- The rights of nursing mothers
- Revised information relating to tip credits
The new Employee Polygraph Protection Act poster has been updated to reflect changes to the contact information for the Department Of Labor and to remove references to the penalty for violation of the law.
Filing Your Annual Report: Are You in Good Standing?
Every corporation and limited liability company operating in Florida is required to file an Annual Report with the Florida Department of State's Division of Corporations. Annual Reports are due to the state each year between January 1st and May 1st. For 2016, this requirement applies to businesses formed in 2015 or before. New businesses formed this calendar year do not have to file their first Annual Report until 2017.
If your corporation or limited liability company failed to yet file your Annual Report, it’s vital that you rectify the situation, as your business entity is currently in jeopardy of being dissolved by the Division of Corporations.
Once your business entity has been dissolved, the state Division of Workers' Compensation can revoke workers' compensation exemptions held by the company's officers. Additionally, if your company remains dissolved for more than a year, the state will no longer protect your company's name and it will become available for other businesses to use.
If you did not file your company's Annual Report this year and you wish to keep your company in good standing and active status with the State of Florida, you should file your Annual Report and pay the appropriate fee immediately.
To file your Annual Report, go to the Division of Corporations' website at http://sunbiz.org. Annual Reports can only be filed online. Be aware that, because you are filing the Annual Report after the due date, a $400 mandatory penalty will be due in addition to the Annual Report fee.
Once you’re on http://sunbiz.org, click the button labeled "File Current Year Annual Report or Amended Annual Report." To ensure the fastest processing time, you should pay the filing fee using a credit or debit card.