Guide

LLC in Delaware Vs New Jersey

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 […]

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Delaware LLC Taxes

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

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Delaware LLCs – Member-Managed Vs Manager-Managed

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

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Delaware LLC Migration

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

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Delaware LLC Exculpation Provisions Eliminate Directors’ Personal Liability For Breach of Fiduciary Duty Claims

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

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