Posted December 09, 2018 06:19:07 Texas has the dubious distinction of having a bad administrative certificate.
According to a new report, Texas ranks in the top 10 in terms of the number of administrative certificates issued for corporate entities in the state.
The report by The Information, a digital media company, analyzed data from the state’s Department of Commerce, which certifies all corporate entities, and determined that the state has issued 8,624 corporate certificates, or “certificates of issuance.”
The average issued certificate is a $10,000 one, and the state is notorious for issuing them to corporations it doesn’t even own.
That means the state can be forgiven for not issuing a lot of certificates, especially when compared to the states top five finishers.
This is the second time in just a year that the Texas Department of Agriculture has taken credit for the state having the worst corporate certificate ranking.
Last year, the department took credit for ranking Texas fifth in terms in terms for the number and types of corporate certificates issued, with a total of 3,961 certificates.
However, the Department of State Business Services and Commerce has claimed credit for Texas ranking as well, claiming that it has issued 3,862 certificates, ranking it with a number of other states, including Colorado, Alabama, and Florida.
But the department has also been criticized for issuing bad corporate certificates.
In 2015, the state ranked as the fourth worst in terms to the number issued, the same as Colorado, Louisiana, and Mississippi.
Another recent criticism came in 2017, when The Washington Post reported that the Department Of Commerce had issued more than 1,000 corporate certificates for a total value of more than $2.5 million, which was more than double the $1,200 that the agency was paid in 2016.
There’s also been speculation that the department might be underpaying the company issuing the certificates.
According to the report, the average corporate certificate issued for the Texas-based organization is $1.9 million, and that’s just for the last fiscal year.
Other recent reports have also highlighted the poor corporate certificate issuance.
In 2017, The Washington Times reported that a large portion of the certificates issued by the Department were issued to a company called Cogent that did not have a valid business license.
Cogent did not return a request for comment.
While the Department did not receive a complaint regarding the Cogency corporate certificates last year, its reputation for issuing bogus certificates has been under scrutiny since 2016.
Last summer, The Dallas Morning News reported that several of the COGent certificates were fraudulent, with the certificates being issued without any documentation.
In addition to the Cogs certificates, The Information also reported that Cogenter has issued more corporate certificates in 2017 than any other company in Texas.
As for why the company is so bad at issuing certificates, there are a number theories as to why the state isn’t doing a better job of certifying corporations.
One theory is that the government doesn’t have enough money to hire enough employees to issue certificates, even though there is a lot more paperwork to go through than in most other states.
Another theory is the lack of financial incentives to issue corporate certificates at the same time as corporate bond sales, which is an option available to the public in Texas, according to The Information.
Either way, Texas is ranked among the worst in the nation for corporate certificates by TheInformation.
You can read more about the ranking in our report.
Images via The Information and Cogeneration.