Guide

The Benefits of a Public Benefit LLC

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 […]

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What Is Good Faith and Fair Dealing Delaware LLC?

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

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Double Tax Relief for US LLCs

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

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Delaware LLC Act Death of Member

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

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How to Form an LLC in Delaware

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

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Forming a Delaware Foreign LLC

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,

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