What is business compatibility?
Business compatibility merely is the requirements you should essentially meet for the sustainability of your business. The first thing you should consider for the limited liability of your assets is the requirements you need to fulfill while starting your business. In addition to that, your business should be managed correctly and attend its annual requirements regardless of you and your assets. Those requirements as such: regular meetings, keeping records of these meetings, holding a “registered agent,” and paying its franchise tax.
What are the legal requirements for the sustainability of your business?
There are two major legal requirements for the annual sustainability of your business: (1) Paying franchise tax and (2) holding a “registered agent.” If you fail to meet at least one of these requirements, your business will be invalidated and subjected to penalty; and it will be eventually liquidated.
How to pay franchise tax?
You can get more information about franchise tax from our articles. If you need support for paying franchise tax, we can help you. By choosing our assistance, you will no more need to worry about the sustainability of your business.
When should you pay your franchise tax and registered agent fee?
Franchise tax should be paid until the 1st day of March for Corporations. For an LLC, it should be paid until the 1st day of June. Your registered agent fee, on the other hand, is decided by your registered agent. If you choose to work with us, we will determine this date with a mutual decision.
Why is the notification for franchise tax sent to my registered agent instead of me?
One of the most critical duties of registered agents of companies in Delaware is to send the franchise tax notifications to the owner(s) at the right time. Since the information about executives of a company in Delaware is not publicly shared, the safest way to deliver important notifications to the owner is through registered agents. You will get regular reminders before your franchise tax deadline if you choose to work with us. We can also provide a copy of your franchise tax document in case you lose the original text.
When should the first meeting of a company be conducted?
There is no absolute rule about that according to Delaware corporate law. However, it is always a good idea to conduct the first meeting soon after you complete your process of starting a business. Topics such as management, meeting the shareholders, shares that will be open to the public, meeting the workers and discussing the binding agreements should be included in this meeting.
Your business in the U.S. is regarded as a “local business” within the state you incorporated. In other states, your business is regarded as a “foreign entity,” which means you need “Foreign Qualification” to do business within these states. You can read our other articles if you need more information about Foreign Qualification.
If you have any questions, please feel free to contact us!
You can choose one of our services to start your business in the US, and you can you can contact us for further information and questions.
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