Corp1, Inc.
302-736-3466 or Toll Free at 855.736.3466 • Email • Contact
302-736-3466 or 855.736.3466 • •

Delaware

Welcome to our blog and news page. You will find articles, informational notices, and a video here. Still looking for some help? Contact us and tell us what you need!

Categories

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...

Read More

Delaware Franchise Tax Explained: What Every Business Entity Needs to Know

Delaware Franchise Tax Explained: What Every Business Entity Needs to Know

Choosing Delaware as the home for your business entity comes with a unique set of tax obligations; most importantly, the Delaware Franchise Tax. Whether your company operates within the state or elsewhere, if your LLC, LP, or GP is formed in Delaware, you must pay this fee to maintain your corporate status. Understanding how Delaware Franchise Tax works, who it applies to, and how it’s calculated is essential for staying compliant, avoiding penalties, and ensuring your business remains in good standing with the state of Delaware. What is Delaware Franchise Tax? All Delaware Limited Liability...

Read More

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...

Read More

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...

Read More

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...

Read More

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...

Read More

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,...

Read More