How do I form a corporation in Delaware?
How to Form a Corporation in Delaware
- Choose a Corporate Name.
- Prepare and File Certificate of Incorporation.
- Appoint a Registered Agent.
- Prepare Corporate Bylaws.
- Appoint Directors and Hold Board Meeting.
- Issue Stock.
- File Annual Report and Pay Franchise Tax.
- Obtain an EIN.
How much does it cost to set up a corporation in Delaware?
Delaware Incorporation Fees The state fee to incorporate in Delaware is a minimum of $89. This includes your Division of Corporation fees ($50), filing fee tax ($15 minimum), and the county fee ($24).
Why you shouldn’t incorporate in Delaware?
Reasons Not to Incorporate In Delaware 1) Your business is not going to be funded by venture capital. If that’s the case, then you’ll need to pay someone to act as your registered agent in Delaware, and you’ll still need to register your business as a foreign entity in your home state.
Why do people file Corporations in Delaware?
There are two major reasons for Delaware’s dominance of the corporate incorporation business. The other major reason corporations choose to incorporate in Delaware is the quality of Delaware courts and judges. Delaware has a special court, the Court of Chancery, to rule on corporate law disputes without juries.
How long does it take to form a corporation in Delaware?
The filing fee for a Delaware corporation is $89. Mailed filings can take several weeks, and online filings take 1-3 days to process. If you hire us to form your corporation, it will be active in 1-3 days (the timing depends on state filing times).
How do I incorporate online in Delaware?
To incorporate Delaware online, you will need to visit the Secretary of State’s website and file the proper documentation. In particular, you will need to fill out and submit your Articles of Incorporation and pay the required filing fee.
Do corporations pay taxes in Delaware?
Every domestic or foreign corporation doing business in Delaware, not specifically exempt under Section 1902(b), Title 30, Delaware Code, is required to file a corporate income tax return (Form 1100 or Form 1100EZ) and pay a tax of 8.7% on its federal taxable income allocated and apportioned to Delaware.
How long does it take to incorporate a company in Delaware?
In short, the longest that it could take to form a Delaware LLC using our services is generally 3-5 business days. Many formations take less time.
How long does it take to approve a corporation?
Time to process your corporation or LLC formation varies by state with routine processing taking 4 – 6 weeks or even more in the slowest states. Expedited Processing will reduce that time to about 10 business days or less with the exception of just a few states.
What is required to incorporate in Delaware?
A Certificate of Incorporation for corporations or Certificate of Formation for LLCs needs to be filed with the Department of State. Delaware requires corporations to file and Annual Franchise Tax Report. The due date for corporations is March 1. The annual report fee is $50.
What tax forms do I need to file for a corporation?
Corporations that elect to be S corporations use Form 1120-S to report income, deductions, gains, losses, etc. Used by a corporation to assist the corporation in determining its tax liability and required installment payments.
Why is Delaware a corporate haven?
The state of Delaware falls into this category; it offers favorable tax treatment to certain categories of business, and it does not require companies to identify their beneficial owners when formed. For this reason, Delaware has become the mecca for many companies and corporations.