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Delaware Corporate Filings

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Texas vs. Delaware: Where Should You Incorporate Your Business?

Texas Vs. Delaware: Where Should You Incorporate Your Business?

When it comes to incorporating a business in the U.S., business owners face a key decision: where should they incorporate? Delaware has consistently been recognized as a top choice for incorporation, and recently, Texas has been making a play for that #1 spot. Entrepreneurs should understand how these two states differ and how those differences may affect legal structure, taxes, and entity protection. Knowing the differences and their effect on your entity is crucial for choosing the best state for your business. Advantages of Incorporating in Delaware Delaware is a popular choice for...

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What You Need to Know When Dissolving Your Business

Dissolving a business is a complex and somewhat daunting process, whether it's due to financial struggles, strategic decisions, personal circumstances, or simply pursuing new opportunities. The process of business dissolution requires careful planning and execution and varies by state and type of entity. From obtaining shareholder approval to filing articles of dissolution and settling debts, each step must be executed meticulously to ensure a smooth transition and protect against future liabilities. In this blog, we will explore some of the essential steps and considerations to ensure that...

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Turnaround Times & Expedite Options: What You Need to Know

Turnaround Times & Expedite Options: What You Need to Know

Starting and expanding a business often involves navigating a maze of corporate filings. From forming a new corporation or merging with another, each step requires meticulous attention to detail and adherence to state-specific regulations. Timely and expedited filing is not just about compliance; it's about setting the foundation for your business's growth and success. Why can’t I form a business immediately? When forming a business or amending the records of an existing business, filings must be processed with the Secretary of State in your chosen jurisdiction. Upon submission, filings are...

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The Importance of Filing Your Delaware Annual Report

Delaware expedited corporate filings

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 of...

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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 businesses,...

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