Small Business Reading Room

Friday, August 06, 2010

Delaware Corporate Legislation Tracker- late update!

Stay on top of changes to the DGCL with the Delaware Corporate Legislation Tracker. This is a free service, designed to keep you informed on current and pending legislation related to Delaware Corporate rules and regulations.

This is a (very) late addition to our series. It somehow slipped past us and we wanted to make sure we got the work out!

The following Legislation affecting Title 30 - State Taxes, was acted upon by the General Assembly on 06/30/2010:

HB 496

This Act establishes a tax credit for Delaware taxpayers who invest in Certified Delaware Investment Funds. The purpose of the tax credit, equal to 25% of the amount of such investment, is to encourage investment in Delaware-based venture capital funds into which the State of Delaware has also made an investment.

Bill History:

Jun 30, 2010 - Introduced and Assigned to Revenue & Finance Committee in House


Wednesday, August 04, 2010

State of Delaware is sending out Void Warning Notices for Corporations

On August 9th, the State of Delaware will be generating Warning notices for Corporations that are on the verge of becoming Void. The notices will be mailed to the registered agent for each corporation who will in turn forward them to the contact person/address of record for each entity. This is definitely one notice that most Corp owners don't want to see. So how can you assure that you don't end up on the list? The answer is simple; take care of your annual filing responsibilities with the State of Delaware, Division of Corporations.

If you own a Delaware Corporation there are two major things that are due to the Division of Corporations on an annual basis:
  • An Annual Report and
  • A Franchise Tax

These two items are mandatory and you must file them each year by the March 1st deadline in order to have your corporation remain in good standing. If you miss the deadline, the State will apply interest at the rate of 1.5% per month on the unpaid franchise tax, and assess an additional $100.00 penalty for not filing your Annual Report on time. Also, you might end up receiving a Void Warning Notice sometime in August or September.....


Tuesday, August 03, 2010

Do I need an Operating Agreement for my Delaware LLC?

This is one of the most frequently asked questions by clients creating LLCs, I probably hear it at least one a day. The short answer is yes. The LLC is governed almost entirely by its Operating Agreement (sometimes also referred to as a Limited Liability Company Agreement or LLC Membership Agreement). The Operating Agreement is required by law and covers some really important aspects of the how the LLC runs and operates, such as how to add or remove members and managers.

Since every circumstance is different, Delaware Intercorp, Inc. doesn’t provide a customized operating agreement when we act as organizer, but you can purchase one of our corporate kits or forms CD we sell which both come with sample operating agreements. Of course, these tools aren’t meant as a substitute for the services of an attorney. If you feel like you need legal advice when drafting your operating agreement, you should contact an attorney for assistance.

Your LLC operating agreement does not need to be filed with the Delaware Division of Corporations or submitted to your registered agent. Instead, you should simply keep it with your private company records.


Monday, August 02, 2010

Delaware Intercorp website upgrade!

This past weekend, Delaware Intercorp worked to implement some website upgrades with the intention of improving our customer experience. In addition to better site performance, notable upgrades were made to our online entity order forms. They have a new look and feel, including a feature to allow for continuous, customized price updating of your order based on your specific selections! Check it out and let us know what you think.

  • Delaware LLC online order form

  • Delaware General Stock Corporation online order form

  • Delaware Close Corporation online order form


    New Site Host

    In our continuing efforts to build and maintain a reliable and safe internet experience for our customers, Delaware Intercorp, Inc has just completed: a migration to a more reliable host company; a total shopping cart system upgrade. If you are having difficulty with the site now, please "refresh" or "reload" your browser screen. This should bring you up to date with our current site. Please report any issues or concerns that you may have. Thank you.

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    Delaware Intercorp, Inc.
    113 Barksdale Professional center
    Newark, DE 19711-3258

    "For all the best reasons to incorporate,the best place
    is Delaware and the best incorporator is
    Delaware Intercorp!"

    Call Monday - Friday 09:00 (am) - 17:00 (pm) Eastern Time (GMT-05:00)

    Toll Free - USA only - 888.324.1817
    International: (1) 302.266.9367
    FAX: 302.266.9940