Delaware Corporate Filings

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The Importance of Filing Your Delaware Annual Report

Delaware Annual Report

Delaware Annual Reports and Franchise Taxes are due March 1st for all active Domestic Corporations. Failure to file the report and pay the required franchise taxes will result in a penalty of $200.00 plus 1.5% interest per month on tax and penalty. It is imperative that the Annual Report is completed timely. What is a Delaware Annual Report? The Delaware Annual Report for Domestic Corporations is a document containing business information and is filed along with the franchise taxes due each year. The entity does not have to be physically in Delaware or doing business in the state. What...

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Unlocking Efficiency: Why Corporate Service Companies Are a Game Changer

efficiency in business

In the world of corporate governance, time is of the essence. The invaluable expertise and efficiency offered by a corporate service company, like Corp1, can make all the difference. In this blog, we'll explore why you should consider partnering with a service company backed by real-world examples. Here are some ways that corporate service companies like Corp1 can unlock efficiency for your needs: Document Retrieval Speed and Expertise: Corporate service companies excel in obtaining documents swiftly, often faster than clients can directly. They leverage agent access accounts, on-site...

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Delaware State Bill 110 LLC and Corporation Fee Increase

delaware llc fee increase

Effective August 1, 2023, the State of Delaware Division of Corporations will implement a fee increase for Limited Liability Companies (LLCs) and Corporations. This decision comes following the enactment of Delaware State Bill 110, which seeks to strengthen and bolster the state's business infrastructure. Under the revised fee structure, the new filing fee for LLCs will be $110.00, a $20.00 increase from the previous amount of $90.00. Similarly, Corporations will experience a minimum fee adjustment from $89.00 to $109.00. Please note that this fee increase does not affect the fees for...

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Delaware Section 502 Principal Place of Business Compliance

Effective August 1, 2022, Delaware amended the General Corporation Law of the State of Delaware (“DGCL”), affecting several provisions. The State of Delaware is enforcing Delaware Title Code 8. Del.C Sec 502 (a)(3) for the 2022 Annual Report tax year.  Companies are now prohibited from using a registered agent's address as their principal place of business.  If your entity has done this in the past, then an Amended Annual Report to change to your physical address must be completed at once.  What is Section 502? Section 502 clarifies that unless a corporation maintains its principal place...

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Incorporating Your Business: A Case for Delaware or Wyoming

should you incorporate in delaware or wyoming

When it comes to incorporating a business, choosing the right state can have a significant impact on its legal framework and ultimate success. Two states that frequently attract entrepreneurs and businesses are Delaware and Wyoming. Both states offer unique advantages that make them attractive destinations for company incorporation. Why do companies often choose Delaware or Wyoming? What are the key differences between registering a company in each state? Benefits of Incorporating in Delaware Our Corp1 Delaware team will tell you that Delaware has long been the premier choice for...

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