Author name: Brandon

Delaware is well known as being one of the most business-friendly states in America, regularly consulting corporate lawyers in updating its statutes to stay abreast of business law developments and trends. Law students and corporate lawyers across the U.S. look up to Delaware as a model when crafting their own legislation. Costs Delaware LLCs require […]

Searches in Delaware LLCs can be conducted by searching either their name or file number with the state Division of Corporations, free and readily available for public consumption. Step two is to locate and secure a professional registered agent service in Delaware who will accept legal notices on behalf of your company, such as lawsuits

Delaware LLCs and corporations must pay the state franchise tax of $300 by June 1. Failure to do so will incur a $200 penalty plus 1.5% monthly interest charge from the state. Your company should designate a registered agent who can accept legal documents on your behalf, including service of process and tax notifications. Working

An LLC provides greater asset protection against creditors, which is one of the primary factors to consider when choosing it as your business entity. Decision-making about whether your Delaware LLC will be member-managed or manager-managed is crucial, so before filing your articles of organization it must be made. Advantages Member-managed LLCs offer many advantages to

Delaware provides numerous business incentives and has an efficient process for domesticating foreign LLCs. LLCs allow members to transfer ownership freely by means of an Operating Agreement. Creditors cannot seize personal assets of members in an LLC when it dissolves; this is known as limited liability protection. Taxes As your company relocates or changes states

Before selecting the state in which to incorporate your business, be sure to consider all costs and benefits. For instance, Delaware might cost more money than New York when it comes to incorporation costs. But is the added expense worth it? Benjamin Franklin once noted, “in this world nothing is certain except death and taxes”.

A Delaware LLC resolution template helps you create a document that documents significant decisions made by members of your company that could have significant financial ramifications, such as opening bank accounts or seeking funding. LLC resolutions should be treated as internal documents and kept safe with other business records in a secure location; no formal

Delaware LLC attorneys possess extensive knowledge about business law in their home state of Delaware. There are specific courts which have generated case law concerning LLCs and LPs within its borders. Forming an LLC in Delaware is simple, requiring only a Certificate of Formation to register the company and obtain its EIN and legal basis

Delaware corporations and LLCs will inevitably require a certificate of good standing from the Division of Corporations at some point, to prove they’re active and in accordance with state law. Short and long form certificates provide evidence of on-time franchise tax payments; respectively. Long form certificates contain additional legal history information; these can be used

Delaware recently updated its corporate law to permit corporations to include provisions in their certificates of incorporation that eliminate personal liability of officers for breaches of fiduciary duty with financial damages, according to McDonald Hopkins attorneys. They discuss this significant new development. Directors and officers owe fiduciary duties of care and loyalty to their corporations