People often wonder whether they can form an LLC in a state they don’t live in. The answer is yes. Companies have flexibility when choosing where to establish their domicile.
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All corporations that are incorporated in Delaware must do the following on an annual basis: file an Annual Report and pay an annual franchise tax. More information on both the Annual Report and the franchise tax may be found on the State of Delaware website: https://corp.delaware.gov/frtax.shtml. Both the Annual Report and the annual franchise tax are due by March 1st of each year.
A registered agent is a responsible third party who is registered in the state where your business entity is formed. The registered agent may be an individual or a business entity and is designated to receive service or process (notice of legal action) on behalf of your company. Some states, like Delaware, require you to have a registered agent at the time of formation and maintain one during the life of the company.
Read and understand what you need to know when setting up an LLC and see if it’s more beneficial over starting up with a corporation.
WHEN should you incorporate? The answer is actually also tied to WHY you should incorporate. If your idea is just an idea and you’re happy with keeping it that way with no plans for turning it into a business, then there may not be any need to incorporate at all.
Lloyd & Mousilli’s Incorporate in Delaware service is a quick and easy way to incorporate your company for a fraction of the typical legal costs. Delaware has business-friendly regulations which is why thousands of companies choose to incorporate there each year.
Lloyd & Mousilli’s Delaware Post Incorporation service has everything you and your co-founders need to take the next step towards building a great company.
Incorporating in Delaware is a popular choice for early stage, accelerated growth tech startups, particularly in the post-bubble era. There are certainly some downsides to incorporating in Delaware, including extra filing fees, the annual Delaware Franchise Tax, registered agent fees, and the additional costs of retaining a Delaware corporate lawyer in the event of a complex legal issue.
Can A Non US Resident Form A Delaware C Corporation? There are many reasons why founders all over the world would want to form a Delaware C corporation.