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Delaware Corporation
built 658 days ago
Delaware Corporation advantages and disadvantages -Delaware is considered pro-business, which isn't something you find in all states. Indeed, Delaware takes business seriously. Consider Delaware's favorable tax climate. Its corporate tax rate is only 8.7% on net income. In addition, there's no sales tax or equipment tax. Delaware's Chancery Court is the international forum for hearing corporate disputes.
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On March 1st of each year, every Delaware Corporation must file an annual Franchise Tax Report and pay an annual Franchise Tax. The tax is based on the authorized share capital of the corporation and the Tax Report must include the names and addresses of the Directors and Officers. Late filing of the report and payment of the tax will incur penalties and interest which is compounded monthly.
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The internal operations of Delaware Corporations and LLCs are governed by Delaware law. The US Chamber of Commerce has rated Delaware's litigation system #1 of all 50 states in the past five years in every category (Judges' Competence, Judges' Impartiality, Overall Treatment of Tort and Contract Litigation, etc.)
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The Do-It-Yourself Kit: Delaware S Corporation documents were written by Stephen L. Nelson, CPA. A CPA for twenty-plus years, Nelson holds an MBA in Finance from the University of Washington and an MS in Taxation from Golden Gate University. Nelson is the author of numerous best-selling books about accounting and finance including Quicken for Dummies (which sold more than 1,000,000 copes) and QuickBooks for Dummies (which sold more than 500,000 copies). He's ... taught LLC and S corporation taxation in the graduate tax school at Golden Gate University.
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Delaware has no sales tax, corporate income tax or personal or intangible property taxes. An annual franchise tax fee of $200.00 is due to the Franchise Tax Board by June 1 each year.
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ATTENTION: The Delaware Division of Corporations has changed its web site address to [C]orp.delaware.gov. Be sure to change the web address in your favorites folder to reflect the new web address.
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Delaware Corporation