Author name: Brandon

Businesses dedicated to social missions may wish to explore the advantages of branding themselves as public benefit companies in order to attract like-minded investors, customers and employees. Delaware recently updated its LLC laws to permit companies to elect for themselves to become public benefit corporations, reflecting Delaware’s nationally influential role in corporate law. What is […]

Good faith and fair dealing Delaware LLC requires parties to fulfill their contractual obligations in an ethical fashion. This principle, known as the implied covenant of good faith and fair dealing, exists within every contract. While parties can include contractual provisions that mimic traditional fiduciary duties in their LLC operating agreements, this does not alter

Anson may have profound ramifications for arrangements reliant on US LLCs being opaque or having shares for UK tax purposes, specifically by altering availability of UK tax credits for taxes withheld from LLC profits. HMRC has since clarified that their decision pertaining to entity classification will only apply in this specific instance and will not

When a member passes away, his economic rights associated with membership pass to his estate. However, in Delaware LLCs the operating agreement typically takes precedence over any non-mandatory provisions in the Delaware LLC Act. Delaware law gives members virtually complete autonomy when it comes to contracting the terms of ownership and operation, such as whether

If you’re starting an LLC in Ohio, it is essential that you understand its requirements. This article covers everything from choosing a name and selecting an EIN provider, to hiring registered agents and getting EINs. The Ohio LLC Code grants members contractual freedom to tailor contributions, rights and duties according to individual needs and is

If your Delaware LLC has fallen into disrepute (for example by failing to file annual reports), formal paperwork with the State can help revive it and pay any outstanding taxes due. Formally dissolving your LLC requires following the guidelines outlined in its operating agreement, such as holding a meeting to vote on it and documenting

If your business operates from outside Delaware, such as an LLC formed outside its borders and conducting operations here, registration with Delaware must take place as part of a process known as foreign qualification. Registration requires additional filings, fees and tax obligations yearly; however, Delaware stands out among business-friendly states as it doesn’t impose income,

Delaware may not be one of the smaller states, but its business climate has attracted businesses of all kinds due to its welcoming tax policies and robust corporate laws. Furthermore, Delaware offers an easy process for converting existing entities to Delaware-registered corporations. Converting involves creating and filing a plan of division, outlining how the company

If you have chosen a name for your Delaware LLC, it is imperative that it is available. One effective method of doing this is through the Delaware Office of Corporations (“DOC”) “Name Availability Search” tool. Search engines such as Google may show names as unavailable even after they become available; therefore, this tool provides the

Delaware stands out as an extremely business-friendly state, offering tax breaks and the option to pass-through income to shareholders. Delaware provides flexibility with regard to legal structure and regulation, so many companies choose it as the location for incorporation. Benefits Delaware remains one of the top destinations for companies looking to form Limited Liability Companies