Small Business Reading Room

Monday, August 03, 2015

So, you’ve created your Delaware Company. What now?

You’ve done it!  You now have a Delaware Company.  It’s official!  Why, you can even go to Delaware Secretary of State's website and locate your entity and view some general facts about it. Now that that’s done, what are some other considerations for getting your business going?

Have a strong foundation!  Your governing documents should be in order.  LLC’s are required to have an Operating Agreement, Corporations have their By Laws, LP’s a Partnership Agreement and Statutory Trusts have a Trust Agreement. Keep these documents and other company records safe and organized and readily accessible.  

Obtain an Employer Identification Number, (EIN).  This federal tax identification number is required to open a US bank account and to make certain tax elections.  Applicants can apply directly with the IRS for free, or hire a Third Party to do it for them.  

Open a US Bank Account. Prepare to apply in person with photo identification, EIN, a copy of the date and time stamped or Certified Copy of Certificate of Formation/Incorporation and US Address.  A Certificate of Good Standing and a company’s private documentation are common requirements as well. Keep in mind that if you are opening an account outside of Delaware, banks often require evidence of (foreign) registration in their jurisdiction. Obtain a check list of requirements from the bank beforehand so that there are no unhappy surprises.

Register your company in other jurisdictions where you will be doing business.  States vary in registration procedure, initial cost and annual maintenance.  Keep in mind that most have an annual fee and/or annual filing requirement.  A  registered agent/service of process (SOP) address in these other jurisdictions is also a must. 

Obtain Business and/or Professional Licensing and State Tax ID Number.  You will need to apply for these in jurisdictions where you are doing business.  

DBA/Fictitious Name Certificate: If you, plan to do business under a name other than how it is legally registered, than this is a filing you will need to consider, usually in jurisdictions where you plan to do business.

As you can see, there are a number of steps you will most likely need to take after you have formed your Delaware Company.  Delaware Intercorp has been serving the business community for over 20 years and has developed a variety of business services and products to help our clients fulfill these obligations.   Let us help you grow your business!  Contact our service team via email or phone us toll-free at 888.324.1817 for assistance.

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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