Delaware Corporation Filing Requirements
Delaware corporation filing requirements start with your Articles of Incorporation. This is the first step in starting your own company or nonprofit business.4 min read
Delaware corporation filing requirements start with your Articles of Incorporation. This is the first step in starting your own company or nonprofit business. Once this document is approved, it secures your business's name and creates the legal entity of the business. You can then apply for business licenses, apply for a tax ID, sign contracts, etc.
There are many benefits to incorporation. Some of these include:
- Personal liability protection for officers, directors, and shareholders.
- Incorporation fulfills the Delaware requirements to register your organization's or business's name.
- Offers governance and provides some added credibility to the organization or business.
Be mindful that although Delaware's Articles of Incorporation guidelines appear straightforward, articles that get filed by nonprofessionals are often lacking important information like add-on provisions that are necessary for 501(c)(3) eligibility.
Who Should Incorporate?
- Corporations that have stock and nonstock equity.
- Nonprofit and profit corporations.
- Close corporations.
Current state fees for the Articles of Incorporation are $89 plus $9 for each additional page. It takes around three weeks for processing, or you can request next-day expedited processing for somewhere between $50 and $100.
Corporation Filing Guidelines
Your corporate name has to be easily distinguishable from any other registered entity in Delaware, which includes other corporations, LLCs, and LPs. Start by searching to see if your desired name is available before you file your Articles of Incorporation. You must add a designator to your company name. This can be incorporated, corporation, or another similar abbreviation.
You have to declare a registered agent on your Articles of Incorporation. This can be a person or company that is willing to receive legal documents, lawsuit notices, or any other government documents on behalf of the corporation. Your agent is required to use a Delaware physical address, not a P.O. Box.