Have you noticed that many businesses are incorporated in Delaware even though they aren’t based in Delaware? There are many reasons for that. Our Cooperation Center has helped many entrepreneurs from all over the country through the process of creating a Delaware LLC, Corporation, LP, and more. Delaware is just one state, true, but there are many advantages to using our documents to create business entities in Delaware.
Easy to Get Started (Especially Through Us)
If you’ve been researching forming an LLC or similar business entities, then you’ve noticed that plenty of them have voting requirements, mandatory meetings, and so forth. That’s not the case in Delaware. Those don’t exist. Moreover, the filing fees are small as well. Speaking of small fees, that’s all you have to pay in terms of the Franchise Tax Fee as well as the Registered Agent Fee. Those are expenses, yes, but they can be far less than what you would possibly encounter in other locations.
Protecting Your Assets
Delaware LLCs offer protections that those in other states may not. For example, in the event that an LLC doesn’t work out, leaving debt, the last thing any LLC member wants is to have to pay. With a Delaware LLC, the most a member can lose is what they have invested in the LLC. In terms of further protection, if a member of the LLC has a judgment filed against them, no creditor can get any portion of the LLC’s assets. By that same token, they can’t attack the LLC, either. In Delaware, when it comes to LLCs, they really do limit liability and protect members.
Privacy and Tax Flexibility
At the end of the day, one of the most significant benefits that Delaware provides to LLCs is privacy. You don’t have to disclose any information about the LLC’s owner to Delaware. To repeat: any information. All you need is a Delaware Registered Agent and someone who’s been designated as a contact person. That’s it. Delaware tries to be as helpful with the taxes as they can. To that end, single-member LLCs in Delaware aren’t recognized by the IRS. As a result of this, they don’t have to pay taxes. The tax liability is passed through to that single member. This kind of customization is one more reason that Delaware is so attractive.
More Options Than Just Creating a Delaware LLC
The above are some reasons to set up your LLC in Delaware, but, remember, Delaware is far from your only option. There are other states and other kinds of business entities which may be better for your specific needs. To that end, you’ll find plenty of other forms for other states here at the Corporation Center. Whether you want to start a business entity in Alaska, Florida, or anywhere in between, we’ve got documents that can help. Each of them has been created by professionals, so they can do what you need them to. To see how we can help, click here.
