Delaware is a top choice for many business owners due to its longstanding favorable corporate law, low filing fees and knowledgeable court system that handles complex business disputes.
For those wishing to maintain their privacy, the state offers several advantages. One such benefit is anonymous LLC formation. This permits members to avoid having their names printed on public documents, thus eliminating any paper trail that might help prove ownership.
Registered Agents
Registration as a registered agent for any LLC or corporation operating in Delaware is an absolute requirement. This individual or entity will be legally responsible for receiving and forwarding legal documents on behalf of their business.
This service helps the company remain compliant with all state and local laws, helping them avoid costly lawsuits or legal fees.
The registered agent serves as the main communication point for a business, receiving all important correspondence sent to them, such as receipts of checks and other legal notifications.
The best registered agent services boast industry-leading customer service, a robust selection of options, competitive prices and ease-of-use. Northwest Registered Agent stands out due to their comprehensive range of services as well as an experienced US-based customer support team comprised of former lawyers, accountants, small business owners and entrepreneurs.
Annual Reports
Delaware, affectionately known as “The First State,” offers businesses a host of advantages. Its friendly corporate law, low filing fees, low taxes and experienced court system with knowledge about complex business matters are just some of the reasons why many choose to incorporate here.
One of the most essential filing requirements for LLCs is annual reports. These documents give the state updated details about your LLC, including members, managers and the registered agent.
Another essential aspect of LLC compliance is timely payment of annual fees. Failure to do so could result in penalties and the revocation of your good standing with the state.
Corporations must file an annual report and pay franchise tax by March 1 of each year. Reliable registered agents handle this task for their customers, while top-notch companies send frequent reminders via mail or email about upcoming deadlines to ensure everything is done on time.
Age Restrictions
Delaware LLCs can have members of any age, but must have at least one manager.
Establishing managers and members for an LLC is essential to ensure its legality and smooth running. These individuals should have the authority to make important decisions for the business as well as oversee all day-to-day activities.
Many business owners enlist the assistance of another person to organize their LLC. This person could be a trusted friend, family member, or attorney.
This individual should possess the authority to sign all paperwork associated with forming an LLC and filing it with the state. Furthermore, they should possess the capacity to assume control of the organization at any time if needed.
Minors have the legal capacity to register a limited partnership, make executive decisions and manage the business. However, they must obtain permission from their parents or guardian before making any of these choices.
Legal Features
Delaware LLCs are increasingly popular business structures due to their attractive level of liability protection for owners and managers. If someone wins a judgment against the company, it will only be enforced against its property – not the owner’s personal possessions.
Furthermore, members and managers can remain anonymous to shield assets from potential creditors. This can be particularly advantageous when it comes to estate planning as well.
Delaware also provides companies with extensive contractual flexibility. This enables them to craft indemnification and advancement provisions tailored to their particular requirements.
