On September 28th, 2017, Paul D. Pate, Iowa’s Secretary of State announced a new initiative that will impact almost every business owner in Iowa.
In the Spring of 2018,“Fast Track Filing” will launch online. According to Secretary Pate, the systems currently in place at the Business Services Division have not been updated since 1999, and with such rapid increase in the speed of business and technology over the past 18 years, Secretary Pate believes it is time for an improvement. In his words, “I want the division to run at the speed of business, not the speed of government.”
How will it help?
Fast Track Filing, by allowing businesses to file almost exclusively online, should help business owners stay on pace with the speed of their business. Additionally, Secretary Pate stated that around 4,500 Iowa business owners, responding to an online survey, stated almost in consensus online filing is crucial for the speed of business. Bonus, again according to Secretary Pate, because of the ability for business owners to take filings into their own hands, support staff of the Business Services Division will be available for issues needing more in depth analysis.
Both the Iowa Bar Association and The Iowa Bankers Association have come out in support of Fast Track Filing. The Iowa Bar Association noting how crucial speed of operations is and the difficulties of managing dated technology. However, The Iowa Association of Business and Industry, at this time, is not convinced. Mostly due to the minimal price increases for the filing fees and actions that will be taken online.
If you are a business owner and would like assistance, or just need a trusted partner to handle your filings, give us a call. Our team of business attorneys can handle all the needs of business owners in today’s fast paced environment. Call one of our Sioux City attorneys today!