Non-Profit Corporations
Non-profit organizations encompass a broad spectrum, including, among others; Fraternal beneficiary societies, orders or associations, cemetery corporations, and corporations organized or trusts created for religious, charitable, scientific, or educational purposes or the prevention of cruelty to children or animals, homeowner associations, etc.
To be registered as a non-profit...
Corporate Income Tax
State Corporate Income Tax is one of the central taxes collected from the business by the State of Delaware. In principle, every domestic or foreign corporation doing business in Delaware, saving certain exemptions under the law, is liable to file a tax return irrespective of the amount of income earned. Taxpayers are required to register corporate income tax returns, including...
Gross Receipts Tax
Gross Receipts Tax is a tax imposed on businesses on their total gross revenues, irrespective of their source. This tax is levied on the seller of goods or services, instead of the consumer. As a result, business owners are the ones liable to pay this tax, not the customers. If you engage in business in Delaware, then you are held responsible for this tax to be paid. As for pickups and...
Franchise Taxes
Apart from other federal and State level taxes, any company incorporated in Delaware are liable to file an Annual Franchise Tax Report and pay Franchise Tax annually for being incorporated within the State. This also includes companies incorporated in Delaware but not conducting business in Delaware as well.As for the exempt companies, even though they are not to pay the tax, they are...
Business Licenses
Persons and entities who substantially engage in trade or business in Delaware -including the ones located in Delaware but conducting business outside of Delaware- are required to obtain a business license from the Delaware Division of Revenue, and such permit must be present at the time business commences. To determine whether you are required such licensing, you can take the Nexus...
Non-US Resident Taxation
Non-US Resident Taxation
The obligation to pay taxes in the U.S. is not exclusive to the U.S. citizens. If you fulfill certain criteria, you, as a non-U.S. citizen, might be well liable to pay taxes and to file tax returns. Depending on your residency status or how much time you spend in the U.S., you should ensure whether you must fulfill these obligations.
If you are a;
–...
Non-Resident Alien Taxation
Non-Resident Alien
Taxation
For non-U.S. resident business owners and partners who in fact run a business in the U.S., taxation might raise as a major question. Since taxation is one of many indicators whether the investment in the U.S. is worthwhile, it is essential to understand how the U.S. taxation system approaches non-resident aliens. It is again worth noting that...
FORM 5472
FORM 5472
If
your U.S. corporation is owned significantly by non-U.S. persons and also
involves with foreign related parties, you would want to miss file Form 5472.
Although not an actual tax return, Form 5472 is an informational form to be
submitted to the Internal Revenue Service (“IRS”) annually for the U.S. companies with foregoing conditions.
First,
depending on certain...
Form 1040NR
Form 1040NR
For non-U.S. resident business owners and partners who in fact run a business in the U.S., taxation might raise as a major question. Since taxation is one of many indicators whether the investment in the U.S. is worthwhile, it is essential to understand how the U.S. taxation system approaches non-resident aliens. It is again worth noting that particularities, such as...
Delaware Company Renewal
When an entity has failed to maintain a Registered Agent or failed to pay their yearly tax, they may fall into a status other than good standing. To get the entity back into good standing, the Delaware Code requires that certain documents are filed and all back taxes and filing fees are paid. You may obtain the forms and instruction memo by selecting the document that is appropriate...
Exempt Companies in the United States Virgin Islands
Exempt Companies in the United States Virgin Islands
In February 1987, the Tax Implementation Agreement was signed between the United States and the Virgin Islands. Therefore, The US Virgin Islands Exempt Companies Act of 1986 became functional a year later. This act is located in Chapter 14, Title 13 of the VI Code and authorized under the United States Internal Revenue Code –...
Who Can Incorporate in Delaware?
Who can Incorporate in Delaware?
By now, Delaware is the best place to set up a limited liability company (LLC) for most entrepreneurs.
If you
have already done a quick search online, you may know that Delaware offers
numerous benefits and protections with its strong corporate law structure.
The
truth is that Delaware is known as the “Incorporation State’ for both small...
Where is My Business Located?
Where is My Business Located?
As a Delaware Registered Agent, you cannot use our mailing address as the physical address of your company.
At
this point, we will need a mailing address to know where to send the
correspondence you receive from the Delaware State Secretary on behalf of your
company. If we receive process services for your company, we also need a
physical address if it...
What is a Certificate of Incumbency?
A Certificate of Incumbency is a document that you prepare as a secretary of your corporation. A Certificate of Incumbency is often used to prove that a particular individual is authorized to enact legally binding transactions on behalf of a company. According to the laws of Delaware, you do not have to write down all the information about your company on a certificate of formation....
What Happens If I Do Not Pay My Franchise Tax?
In Delaware, Corporations are required to file an Annual Report and pay the Franchise Tax that is due on or before March 1 each year. If the Annual Report and taxes are not filed and paid by March 1 the following year, the corporation will be declared inoperative and void. In the next calendar year, you have to file what’s called a franchise tax, or an annual report from the previous...
Requirements for a Corporate Seal
What are the requirements for a corporate seal?
The
corporate seal is also known as a company seal. It is an official tool used by
a company to stamp or emboss important documents of your company to show that
your company has been approved and certified by the Board of Directors.
The
company seal includes the name of the company, the year of establishment and
the state where the...
Real Estate Investment with a Delaware LLC
Investing in real estate, particularly in a high demand region, can be a profitable business. While not every investment yield returns, if you can afford the upfront cost of buying a property, it can be lucrative for both short and long-term investment strategies.
Is
Delaware the Best Place for a Real Estate Investment Company?
The most popular options are Delaware, Wyoming, and...
Hague Convention Apostille Countries
What is
an Apostille?
An
Apostille is a document that certifies another document that has been issued by
a state agency. Any country that is a member of Hague Convention will accept an
apostilled document.
Countries
that are not members of Hague Convention will require that state-issued
documents be authenticated by the state and legalized by the countries’ embassy
in Washington...