Ever wondered why countless business owners choose Delaware as the home for their companies, even if they operate outside the state? This is by no means a coincidence. Our Cooperation Center guides entrepreneurs nationwide in establishing business entities throughout the country. Time and again, they turn to Delaware LLCs, Corporations, LPs, and more. There’s more than one Benefit of Incorporating in Delaware.
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If you’re like many entrepreneurs beginning your research on which state to form a business entity in, you’ll quickly notice that many states impose voting requirements, mandatory meetings, and any number of other bureaucratic hurdles. Not so in Delaware. Here, those are not required. Furthermore, the filing fees are minimal indeed. On the subject of fees, both the Franchise Tax Fee and the Registered Agent Fee are all you need to concern yourself with in Delaware. Moreover, they’re often significantly lower than those found throughout the nation.
In Delaware, Taxes Can Be Flexible and Your Information Can Be Private
Delaware extends a substantial advantage to LLCs – privacy. You’re not required to disclose any information about the LLC’s owner to Delaware authorities. No information whatsoever. All that’s necessary is a Delaware Registered Agent and a designated contact person of your choosing. Beyond that, Delaware also goes the extra mile, so to speak, in simplifying taxes. For example, single-member LLCs in Delaware are not recognized by the IRS. Consequently, they are exempt from direct taxation, with tax liability passing through to the sole member. This level of tax customization is just one more reason why Delaware stands out as an attractive choice.
Asset Protection at a Higher Level
Delaware LLCs offer a level of asset protection that surpasses many other states. In the unfortunate event of an LLC facing financial troubles and debt, the last thing members want is personal liability. To that end, the maximum a member can lose is their initial investment in the company with a Delaware LLC. Plus, if a member incurs a personal judgment, creditors are unable to seize any portion of the LLC’s assets. The LLC itself remains untouchable. In Delaware, when it comes to LLCs, liability is genuinely limited, and members are well-protected indeed.
The Benefit of Incorporating in Delaware or Anywhere Else
While Delaware offers compelling advantages, it’s essential to remember that it’s not the sole option by any means. For example, in Delaware alone, you can choose to form a corporation, a limited liability company, or a partnership.
The above having been said, perhaps the best fit for your company isn’t a different business entity in Delaware, but a business entity in a different state altogether. At Corporation Center, you’ll discover a wide array of forms for various states, spanning from Alaska to Florida and everywhere in between. Each document has been meticulously crafted by seasoned professionals, ensuring they can meet your unique needs. To explore how we can assist you in making the right choice, click here.