Business Filings Incorporated Delaware
Business filings incorporated Delaware can come in many forms such as filing your formation documents, file for a name reservation or submit an annual report.3 min read
Business filings incorporated Delaware can come in many forms. In addition to filing your formation documents, you could file for a name reservation or submit an annual report. The filings that you will use will largely depend on your specific business entity.
Steps for Incorporating in Delaware
Selecting a business name is the first step you must take when incorporating in Delaware. Ideally, the name that you choose will indicate the service or product you offer, while being an accurate reflection of your business message. You should also choose a name your customers can quickly identify. Make sure that your name includes a designator such as Incorporated or LLC.
After choosing a company name, you need to recruit leaders for your company. If you're forming a limited liability company (LLC), you should appoint or recruit managers and members. When forming a corporation, you'll need to recruit directors.
Here are some of the basic requirements for Delaware corporate directors:
- Corporations need at least one director.
- There is no age requirement for directors.
- There is no residency requirement for directors
- The Certificate of Incorporation does not need to include director contact information.
These are the manager and member requirements for Delaware LLCs:
- LLCs need at least one manager/member.
- Managers and members do not need to be a certain age.
- Managers and members do not need to reside in Delaware.
Filing your incorporation paperwork is the next step you must take to form your LLC or corporation. With an LLC, you'll need to file a Certificate of Formation, and establishing a corporation requires filing a Certificate of Incorporation. Whichever entity you are forming, you should file your paperwork with the Department of State.
What to Do After Formation
Filing your formation paperwork officially creates your LLC or corporation. After formation, however, your work is not quite done. For example, corporations in Delaware must file an Annual Franchise Tax Report every year. The filing fee for this report is $50, and the document is due on March 1. The franchise tax your corporation must pay depends on how many shares you have authorized and their value. Fees increase if you authorize more than 5,000 shares.
LLCs must submit an Annual Franchise Tax Statement. This document is due on June 1 each year. There is a $250 fee that you must pay when filing this statement.