Connecticut’s commercial regulators say state coffers are $1.35 million richer after 321 out-of-companies paid penalties for not properly registering to do business here.
Connecticut Secretary of the State Denise Merrill and Attorney General George Jepsen said Monday that unregistered firms’ penalties paid in fiscal 2012 that ended June 30 was $40,000 more than a year earlier and the largest since 2007.
The secretary of the state is Connecticut’s chief business registrar.
“Here in Connecticut, we strive for fair competition in the market place so that all businesses in the state have a chance to make a profit in this economic climate,” Merrill said. “Out-of state companies who fail to register and do not obtain a certificate of authority to do business here undercut Connecticut companies and make it difficult to provide accountability for Connecticut consumers.”
Under state law, business corporations, nonstock corporations, limited partnerships, limited liability companies, limited liability partnerships, and statutory trusts formed outside of Connecticut must obtain a certificate of authority from the Secretary of theState’s Office. Approximately 50,000 of these foreign entities have properly filed with the office.
According to authorities, the five largest settlements came from:
1. Intuitive Surgical, Inc. $18,435.00 CA
2. Communications Test Design, Inc. $17,460.00 PA
3. Trapeze Software Group Inc . $16,117.50 AZ
4. Clinical Computer Systems Inc. $15,645.00 IL
5. Ziff Brothers Investments, LLC $15,480.00 NY
