Business owners often find it difficult to comply with all of the state, local, and federal regulations. Even with the help of your corporate counsel, filing regulatory responses may have become even more complicated. As COVID-19 restrictions lift and your business returns to normal, take some time to review any responses that are due now or in the near future.
Common Regulatory Responses
Generally, any response you make to a regulation could be considered a regulatory response. Businesses usually have to comply with state, local, and federal regulations or face stiff fines and other penalties.
Your business may have to file the following regulatory responses
- State, local, and federal taxes;
- License renewals;
- Annual reports;
- Compliance filings; and
- Response to Deficiency letters.
Also, you may have to comply with specific rules put in place by government entities that oversee your industry. For example, regulations for a barbershop and a restaurant may be very different.
Some government agencies have announced extensions because of disruption caused by the COVID-19 shutdown. This may ease some of the burden as you work to get your business up and running.
Your Corporate Counsel’s Role
Complying with government regulations is not always easy, even when you are not already having to deal with the COVID-19 shutdown. To make sure you are in complete compliance, stay in close contact with your attorney, whether you have in-house or outside corporate counsel.
Your attorney can advise you about how to handle upcoming regulatory responses, as well as:
- Set up schedules and reminders;
- Make sure you are using the right forms;
- Watch for changes to rules and regulations; and
- Apply for extensions, if needed.
Some government agencies placed automatic extensions on required regulatory responses. However, it’s still up to you and your legal counsel to track new deadlines and file on time.
Ask Your Corporate Counsel About Regulatory Responses
Attorney Richard Sierra at the Florida Small Business Center assists clients like you with business and litigation matters. As always, Our Goal Is to Help You Succeed™. For an appointment, you may call us at 1-866-842-5202 or use the contact form on our website. We represent clients throughout the State of Florida, including Coral Springs, Coconut Creek, Boca Raton, Delray Beach, Pompano Beach, Sunrise, Fort Lauderdale, Miami, West Palm Beach, Jupiter, Deerfield Beach, Stuart, Port St. Lucie, Orlando, Naples, Fort Myers, Sarasota, Tampa, and surrounding communities.