USA-Delaware-LLC


Before Delaware was settled by European colonists, the area was home to the Eastern Algonquian tribes known as the Unami Lenape or Delaware throughout the Delaware valley, and the Nanticoke along the rivers leading into the Chesapeake Bay. The Dutch were the first Europeans to settle in present-day Delaware. Within a year all the settlers were killed in a dispute with area Native American Tribes. In 1638 New Sweden, a Swedish trading post and colony, was established by Peter Minuit at the head of a group of Swedes, Finns and Dutch. The colony of New Sweden lasted for 17 years. In 1651, the Dutch established a fort at present-day New Castle, and in 1655 they conquered the New Sweden colony, annexing it into the Dutch New Netherland. Only nine years later, in 1664, the Dutch were conquered by a fleet of English ships. Fighting off a prior claim by Cecilius Calvert, 2nd Baron Baltimore, Proprietor of Maryland, the Duke passed his somewhat dubious ownership on to William Penn in 1682. Penn strongly desired access to the sea for his Pennsylvania province and leased what then came to be known as the "Lower Counties on the Delaware" from the Duke. Penn established representative government and briefly combined his two possessions under one General Assembly in 1682. Delaware was one of the 13 colonies which rioted against British control during the Independent War.

Service packages

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Service item Express Standard Optimum
Company registration
Legal address per year
Secretarial services for the first year
Fees and duties for the first year
Apostilled bound set of incorporation documents
Compliance fee
Nominee service per year
Bank Account Pre-approval
Price

2 190 USD

2 190 USD

2 690 USD

I want to order «»

Contact method: and / or

Core Services

2 190 USD

— Incorporation

including incorporation tax, state registry fee, including Compliance fee

included

— Annual government fees

Stamp Duty and Delaware Division of Corporations incorporation fee

1 650 USD

— Corporate legal services

including registered address and registered agent, NOT including Compliance fee

125 USD

—Delivery of documents by courier mail

DHL or TNT, at cost of a Courier Service

720 USD

— Apostilled set of Statutory documents

Basic set of documents

Related services

595 USD

Certificate of Good Standing

Document issued by a state agency in some countries (Registrar of companies) to confirm a current status of a body corporate. A company with such certificate is proved to be active and operating.

475 USD

Incumbency

Compliance fee

Compliance fee is payable in the cases of: renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of director / shareholder / BO (except the change to a nominee director / shareholder)

250 USD

Basic

simple company structure with only 1 physical person

50 USD

For legal entity in structure under GSL administration

additional compliance fee for legal entity in structure under GSL administration (per 1 entity)

100 USD

For legal entity in structure not under GSL administration

additional compliance fee for legal entity in structure NOT under GSL administration (per 1 entity)

350 USD

For client with high risk Status

Cost of incorporation, including first year servicing 2190
Cost of annual service, starting from the second year 1650
Open account in 30478
Incorporation timescale for a turnkey company 1 week
Country 26746

General information shortly

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Total area Population Capital Unemployment Corruption perceptions index rank
6.452 sq. km 917.092 (2012) Dover 7% (2013) 19 (2013, USA)
Location North America; eastern coast of the USA
National currency US dollar
Conditional reduction of currency USD
Against USD 1
Climate, average max and min t° moderate; long and cold winters, temperature sometimes drops below zero and rises up to +6. Summer is not so hot, average temperature is +20-+31
Time difference from Moscow + 8 hours
Dialing code +1-302
State language English
Ethnic groups White 79.96%, black 12.85%, Asian 4.43%, Amerindian and Alaska native 0.97%, native Hawaiian and other Pacific islander 0.18%, two or more races 1.61%
Literacy rate 99%
Government type state of the USA
Executive branch Governor of Delaware
Legislative branch Delaware General Assembly: House of Representatives (41 members) and Senate (21 members)
Judicial branch Delaware Supreme Court, Delaware Superior Court, Delaware Court of Chancery, Family Court, Delaware Court of Common Pleas, and minor non-constitutional courts (the Justice of the Peace Courts and Aldermen's Courts)
GDP per capita rank 6 (2013, USA)

Corporate info

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Shelf companies permitted Legal system Incorporation timescale for a turnkey company Cyrillic alphabet permitted in company name Local registered office
No common law 1 week No Yes
Types of entity sole proprietorship; general partnership; limited partnership; "C" Corporation; Public Benefit Corporation; "S" Corporation; limited liability company; limited liability partnership
Incorporation timescale for a new company 2-3 business days
Company suffix "Limited Liability Company'' or the abbreviation "L.L.C.'' or the designation "LLC''
Sensitive words "bank"
Local registered agent Yes
Information to be kept at the registered office no requirements
Seal required, type of seal not required
Redomiciliation (to, from) permitted permitted

Director and secretary

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Minimum number of directors Residency requirements for directors Corporate directors permitted Disclosure to local agent Disclosure to public
1 No Yes Yes No
Directors’ meetings/frequency/location No requirements
Company secretary required No
Residency requirements for a secretary No
Qualified secretary required No
Corporate secretary permitted No

Shareholder and beneficiary

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Minimum number of shareholders Residency requirements for shareholders Corporate shareholder permitted Disclosure to local agent Disclosure to public
1 No Yes No No
Meetings/frequency/location No requirements
Beneficiary info disclosure to No

Shares and share capital

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Minimum authorized share capital Minimum issued share capital Minimum paid share capital Authorized capital payment deadlines Bearer shares permitted
No requirements No requirements No requirements No requirements No
Issued capital payment deadlines No requirements
Standard currency US dollar
Standard authorized share capital No
Standard par value of shares No
Shares with no par value permitted No

Taxes

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Min. rate for corporate tax Capital gains tax VAT Withholding tax Exchange control
No Before 20% ~ 3-10% 30%/30%/30% No
Personal tax 10-37%
Corporate tax (in detail) LLC is not taxable entity. Income (loss) is passed through to members, and members pay taxes as individuals.
VAT. Details At the federal level, sales and use tax are not levied. However, such taxes are levied in most states as well as at the municipal level.
Other taxes Social contributions, Inheritance and gift taxes, Property taxes
Stamp duty State level

Accounts

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Requirement to file accounts Publicly accessible accounts Audit required Requirement to file Annual Return Publicly accessible Annual Return
No No No Yes Yes
Requirement to prepare accounts No
Double tax treaties network 60
Tax Exchange Information Agreement network 34
OECD member Yes
Offshore/onshore status according to the RF laws No

GENERAL INFORMATION

General Info

Delaware is a U.S. state located on the Atlantic Coast in the Mid-Atlantic region of the United States. It is bordered to the south and west by Maryland, to the northeast by New Jersey, and to the north by Pennsylvania.
Total area of the state is 6.452 sq. km. The population is 917.092 (2012). Among ethnic groups are White 79.96%, black 12.85%, Asian 4.43%, Amerindian and Alaska native 0.97%, native Hawaiian and other Pacific islander 0.18%, two or more races 1.61%.
The capital is Dover.
The official language is English.
The currency is US dollar (USD).
Climate of Delaware is moderate; long and cold winters, temperature sometimes drops below zero and rises up to +6. Summer is not so hot, average temperature is +20-+31.
Time difference with Moscow is + 8 hours.
Literacy rate is 99%.
Calling code is +1-302.

History

Before Delaware was settled by European colonists, the area was home to the Eastern Algonquian tribes known as the Unami Lenape or Delaware throughout the Delaware valley, and the Nanticoke along the rivers leading into the Chesapeake Bay.
The Dutch were the first Europeans to settle in present-day Delaware. Within a year all the settlers were killed in a dispute with area Native American Tribes. In 1638 New Sweden, a Swedish trading post and colony, was established by Peter Minuit at the head of a group of Swedes, Finns and Dutch. The colony of New Sweden lasted for 17 years. In 1651, the Dutch established a fort at present-day New Castle, and in 1655 they conquered the New Sweden colony, annexing it into the Dutch New Netherland. Only nine years later, in 1664, the Dutch were conquered by a fleet of English ships. Fighting off a prior claim by Cecilius Calvert, 2nd Baron Baltimore, Proprietor of Maryland, the Duke passed his somewhat dubious ownership on to William Penn in 1682. Penn strongly desired access to the sea for his Pennsylvania province and leased what then came to be known as the "Lower Counties on the Delaware" from the Duke. Penn established representative government and briefly combined his two possessions under one General Assembly in 1682.
Delaware was one of the 13 colonies which rioted against British control during the Independent War.

Government Type

Delaware's fourth and current constitution, adopted in 1897, provides for executive, judicial and legislative branches.
Executive branch is headed by the Governor of Delaware.
Legislative power is vested in the Delaware General Assembly which consists of a House of Representatives with 41 members and a Senate with 21 members. It sits in Dover, the state capital. Representatives are elected to two-year terms, while senators are elected to four-year terms. The Senate confirms judicial and other nominees appointed by the governor.
Judicial power comprises Delaware Supreme Court, Delaware Superior Court, Delaware Court of Chancery, Family Court, Delaware Court of Common Pleas, and minor non-constitutional courts (the Justice of the Peace Courts and Aldermen's Courts).

Economy

For the years of 2007 through 2010, the gross state product of Delaware was in the US$60 to 62 billion range, having risen from US$40 billion in 2000.
The per capita personal income was $34,199, ranking 9th in the nation.
According to a 2013 study by Phoenix Marketing International, Delaware had the ninth-largest number of millionaires per capita in the United States.
Delaware's agricultural output consists of poultry, nursery stock, soybeans, dairy products and corn.
As of January 2011, the state's unemployment rate was 8.5%.
More than 50% of all U.S. publicly traded companies and 63% of the Fortune 500 are incorporated in Delaware. The state's attractiveness as a corporate haven is largely because of its business-friendly corporation law. Franchise taxes on Delaware corporations supply about one-fifth of its state revenue.

CORPORATE INFORMATION

Legal System

Delaware is a common law state.
The Delaware General Corporation Law, which forms the basis of the Courts' opinions, is widely regarded as giving great flexibility to corporations to manage their affairs. For this reason and due to the Court of Chancery, Delaware is considered to have the most business-friendly legal system in the United States; therefore a great number of companies are incorporated in Delaware.

Types of Entity

The principal forms of business organization in Delaware are:

  • sole proprietorship;
  • general partnership;
  • limited partnership;
  • "C" Corporation;
  • Public Benefit Corporation;
  • "S" Corporation;
  • limited liability company;
  • limited liability partnership

For offshore solutions, one of the most common structures is the limited liability company.

REGISTRATION

Company Name

There is a range of requirements to the name of limited liability company in Delaware:

  1. Shall contain the words "Limited Liability Company'' or the abbreviation "L.L.C.'' or the designation "LLC'';
  2. May contain the name of a member or manager;
  3. Must be such as to distinguish it upon the records in the office of the Secretary of State from the name on such records of any corporation, partnership, limited partnership, statutory trust or limited liability company reserved, registered, formed or organized under the laws of the State of Delaware or qualified to do business or registered as a foreign corporation, foreign limited partnership, foreign statutory trust, foreign partnership, or foreign limited liability company in the State of Delaware; provided however, that a limited liability company may register under any name which is not such as to distinguish it upon the records in the office of the Secretary of State from the name on such records of any domestic or foreign corporation, partnership, limited partnership, or statutory trust or foreign limited liability company reserved, registered, formed or organized under the laws of the State of Delaware with the written consent of the other corporation, partnership, limited partnership, statutory trust or foreign limited liability company, which written consent shall be filed with the Secretary of State;
  4. May contain the following words: "Company,'' "Association,'' "Club,'' "Foundation,'' "Fund,'' "Institute,'' "Society,'' "Union,'' "Syndicate,'' "Limited'' or "Trust'' (or abbreviations of like import); and
  5. Shall not contain the word "bank,'' or any variation thereof, except for the name of a bank reporting to and under the supervision of the State Bank Commissioner of this State or a subsidiary of a bank or savings association.

Registration of LLC

The following steps are required to incorporate an LLC in Delaware:

  1. Obtain a registered agent: 
Delaware law requires that every business entity have and maintain a Registered Agent in the State of Delaware who may be either an individual resident or business entity that is authorized to do business in the State of Delaware. The registered agent must have a physical street address in Delaware. If the business is physically located in Delaware, then the business may act as its own registered agent. 

  2. Name reservation: The Delaware Division of Corporations allows for the reservation of an entity name. This is not a requirement in order to form your entity but will guarantee that your name is held for you for a period of 120 days. You can reserve your entity name online at Division’s web site at https://delecorp.delaware.gov/tin/EntitySearch.jsp. The fee is $75.00. Please print your confirmation page if you reserve your name online. You may also submit your reservation application in writing. The forms are available at https://delecorp.delaware.gov/tin/EntitySearch.jsp You may fax or mail in your request to the office.

  3. Fill in and submit Certificate of Incorporation/Formation Forms: The entity forms are PDF fillable and can be mailed or faxed to the office of Division of Corporations. A cover sheet with your name or entity name, return address and phone number is required. The mailing address is Division of Corporations -John G. Townsend Building - 401 Federal Street - Suite 4 - Dover, DE 19901. All filing fees must be paid upon submission of your request.

Local Registered Office and Registered Agent

Each limited liability company shall have and maintain in the State of Delaware:

  1. A registered office, which may but need not be a place of its business in the State of Delaware; and
  2. A registered agent for service of process on the limited liability company, having a business office identical with such registered office.

A registered agent may be:

  • The limited liability company itself,
  • An individual resident in the State of Delaware,
  • A domestic limited liability company (other than the limited liability company itself), a domestic corporation, a domestic partnership (whether general (including a limited liability partnership) or limited (including a limited liability limited partnership)), or a domestic statutory trust, or
  • A foreign corporation, a foreign partnership (whether general (including a limited liability partnership) or limited (including a limited liability limited partnership)), a foreign limited liability company, or a foreign statutory trust.

The registered agent of 1 or more limited liability companies may resign and appoint a successor registered agent by paying a fee and filing a certificate with the Secretary of State stating that it resigns and the name and address of the successor registered agent. There shall be attached to such certificate a statement of each affected limited liability company ratifying and approving such change of registered agent. Upon such filing, the successor registered agent shall become the registered agent of such limited liability companies as have ratified and approved such substitution, and the successor registered agent's address, as stated in such certificate, shall become the address of each such limited liability company's registered office in the State of Delaware. The Secretary of State shall then issue a certificate that the successor registered agent has become the registered agent of the limited liability companies so ratifying and approving such change and setting out the names of such limited liability companies. Filing of such certificate of resignation shall be deemed to be an amendment of the certificate of formation of each limited liability company affected thereby, and each such limited liability company shall not be required to take any further action with respect thereto to amend its certificate of formation.
Every registered agent shall:

  • If an entity, maintain a business office in the State of Delaware which is generally open, or if an individual, be generally present at a designated location in the State of Delaware, at sufficiently frequent times to accept service of process and otherwise perform the functions of a registered agent;
  • If a foreign entity, be authorized to transact business in the State of Delaware;
  • Accept service of process and other communications directed to the limited liability companies and foreign limited liability companies for which it serves as registered agent and forward same to the limited liability company or foreign limited liability company to which the service or communication is directed; and
  • Forward to the limited liability companies and foreign limited liability companies for which it serves as registered agent the statement for the annual tax or an electronic notification of same in a form satisfactory to the Secretary of State.

LLC is required to keep in its principal place of business, which does not have to be registered office and can be any country, the following documents:

  • A current list of the name and last known business, residence or mailing address of each member and manager
  • A copy of any written limited liability company agreement and certificate of formation and all amendments thereto
  • Copies of LLC's federal, state and local income tax returns (if any)
  • A copy of any written limited liability company agreement and all amendments thereto
  • Information regarding members contributions (amount of cash and/or statement of the agreed value)
  • Other information regarding the status of the business and financial condition of the limited liability company.

Seal

There is no statutory requirement for an LLC to have a common seal.

Redomicile

The redomiciliation of companies to or from Delaware is permitted.

DISSOLUTION AND WINDING UP

Dissolution

A limited liability company is dissolved and its affairs shall be wound up upon the first to occur of the following:

  1. At the time specified in a limited liability company agreement, but if no such time is set forth in the limited liability company agreement, then the limited liability company shall have a perpetual existence;
  2. Upon the happening of events specified in a limited liability company agreement;
  3. Unless otherwise provided in a limited liability company agreement, upon the affirmative vote or written consent of the members of the limited liability company or, if there is more than 1 class or group of members, then by each class or group of members, in either case, by members who own more than 2/3 of the then-current percentage or other interest in the profits of the limited liability company owned by all of the members or by the members in each class or group, as appropriate;
  4. At any time there are no members.

Unless otherwise provided in a limited liability company agreement, the death, retirement, resignation, expulsion, bankruptcy or dissolution of any member or the occurrence of any other event that terminates the continued membership of any member shall not cause the limited liability company to be dissolved or its affairs to be wound up, and upon the occurrence of any such event, the limited liability company shall be continued without dissolution.

Judicial Dissolution

On application by or for a member or manager the Court of Chancery may decree dissolution of a limited liability company whenever it is not reasonably practicable to carry on the business in conformity with a limited liability company agreement.

Winding Up

Unless otherwise provided in a limited liability company agreement, a manager who has not wrongfully dissolved a limited liability company or, if none, the members or a person approved by the members or, if there is more than 1 class or group of members, then by each class or group of members, in either case, by members who own more than 50 percent of the then current percentage or other interest in the profits of the limited liability company owned by all of the members or by the members in each class or group, as appropriate, may wind up the limited liability company's affairs; but the Court of Chancery, upon cause shown, may wind up the limited liability company's affairs upon application of any member or manager, or the member's personal representative or assignee, and in connection therewith, may appoint a liquidating trustee.
Upon dissolution of a limited liability company and until the filing of a certificate of cancellation, the persons winding up the limited liability company's affairs may, in the name of, and for and on behalf of, the limited liability company, prosecute and defend suits, whether civil, criminal or administrative, gradually settle and close the limited liability company's business, dispose of and convey the limited liability company's property, discharge or make reasonable provision for the limited liability company's liabilities, and distribute to the members any remaining assets of the limited liability company, all without affecting the liability of members and managers and without imposing liability on a liquidating trustee.

COMPANY STRUCTURE

Directors

There is no statutory requirement for a director in an LLC. LLC is managed by the members.
Management of LLC can be governed by its member(s) or by elected manager(s). If a limited liability company operating agreement states that management of the limited liability company is vested in a manager or managers, a minimum one manager is required.
Managers do not need to be members of the limited liability company. Residents of any country, individuals and legal entities may become managers of Delaware LLC. Individual managers shall be eighteen years of age or older.

Secretary

There is no statutory requirement for a secretary in Delaware.

Members

An LLC must have a minimum of one member at any time. Members may be either a natural person or a corporate entity. There are no residency requirements.
Unless otherwise provided in a limited liability company agreement, meetings of members may be held by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and participation in a meeting pursuant to this subsection shall constitute presence in person at the meeting. Unless otherwise provided in a limited liability company agreement, on any matter that is to be voted on, consented to or approved by members, the members may take such action without a meeting, without prior notice and without a vote if consented to, in writing or by electronic transmission.

Beneficiary

Beneficiaries’ details do not appear on a public profile. Generally, service providers including firms specializing in company formation, trust managers, lawyers, and accountants, keep beneficiaries’ information in strict confidentiality.

Capital

There is no minimum capital required to form a Delaware LLC.
Capital contributions to the LLC may be made either in cash, goods, services or know-how.

TAXATION

Delaware LLC

By default, US LLCs are "transparent" for tax purposes at the federal level as well as at the level of the state, State of Delaware included. This means that income/profit tax is paid not by the company, but by its owner(s).
If such company does not have a presence in the United States and does not receive income from United States sources, then no tax arises in the United States (except some small registration fees). However, there are certain (limited) filing obligations.

Personal Income Tax

US citizens and residents are taxed on their worldwide income, non-residents are taxed on US-source income.
Income tax is levied at the federal level, the level of states and some municipalities.
Federal tax is payable on a progressive scale:
  • Income up to USD 9,950 – 10%
  • Income from USD 9,951 to 40,525 – 12%
  • Income from USD 40,526 to 86,375 – 22%
  • Income from USD 86,376 to 164,925 – 24%
  • Income from USD 164,926 to 209,425 – 32%
  • Income from USD 209,426 to 523,600 – 35%
  • Income over USD 523,600 – 37%

There is an alternative minimum tax and a targeted Medicare tax.
Most states and some municipalities also levy income tax, although some states don’t (for example, Florida). Some states levy income tax at a flat rate and others have a progressive scale. The rates and income levels to which they apply vary greatly.
Capital gains from the sale of assets held for at least 12 months are taxed at the federal level at reduced rates: the maximum rate is 20% (President Biden promises to significantly increase the rate for the highest income levels). Dividends are included in the ordinary taxable income. However, if certain requirements are met, they are taxed at the rates applicable to capital gains. There is usually also capital gains taxation at the state level.

Corporate Income Tax

US companies are taxed on their worldwide income, foreign companies are taxed on US-source income.
The federal corporate income tax rate is 21% (President Biden plans to raise the rate to 28%). It applies to both ordinary income and capital gains. 50 to 65% of dividends from US companies are tax exempt depending on the size of the shareholding. Corporations may be exempted from corporate income tax on dividends from foreign companies in the case of at least 10% shareholding, the holding period of more than a year and when meeting certain other conditions.
Corporate income tax is also levied at the state and municipal levels. State rates range from 1% to 12%, some states have no such tax.

CFC Rules

A controlled foreign company is a foreign company in which the US shareholders own directly or indirectly more than 50% (US shareholders are those with at least 10% ownership interest).
The CFC’s undistributed profit is included in the taxable income of the US shareholders.
This income includes passive income as defined by law.
There are a number of exceptions.
The taxable income also includes income that does not qualify as “passive” income, but exceeds a 10% return on the value of tangible assets of a foreign company (GILTI). Such income is taxed at lower effective corporate tax rates.

Withholding Tax

Withholding tax on dividends, interest and royalties is levied at the rate of 30%. Certain types of interest are exempt from withholding tax.
The tax may be withheld on certain other types of income.
The tax rates can be reduced under double tax treaties (DTT).

Sales Tax

Sales and use taxes are not levied at the federal level.
However, such taxes are levied by most states as well as municipalities.
The tax rates vary, usually ranging from 2.9% to 7.25%; the rules vary too.
The tax usually applies to retail sales, certain services, and some digital products.

Social Security Contributions

Social security contributions are paid by both the employer and the employee at the rate of 6.2% on employment remuneration not exceeding USD 142,800.
Medicare insurance rate is 1.45% for the employer and the same amount for the employee.
An additional Medicare insurance premium is withheld from the employee's salary at the rate of 0.9% for salaries over USD 200,000.
Employers also pay an unemployment insurance premium at the rate of 6% on the first USD 7,000 of the employment remuneration (however, the rate can be reduced to as little as 0.6% if such payments are also made at the state level).
Social security contributions can also be levied at the state level.

Inheritance and Gift Taxes

Inheritance tax is levied at the federal level at progressive rates, with a maximum rate of 40%.
The non-taxable amount is USD 11,700,000, the amount is indexed annually.
Inheritance tax is also levied at the state level.
There is also a gift tax.

Property Taxes

Most states and municipalities levy taxes on real estate.
Many states also levy taxes on commercial movable property.

Stamp Duty

Stamp duties are usually imposed by states and municipalities on real estate transactions.

Double Tax Agreements

The USA have exchange of information relationships with 88 jurisdictions through:
  • 60 DTC: Australia, Austria, Bangladesh, Barbados, Belgium, Bulgaria, Canada, Chile, China, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Kazakhstan, Korea (Republic of), Latvia, Lithuania, Luxembourg, Malta, Mexico, Morocco, Netherlands, New Zealand, Norway, Pakistan, Philippines, Poland, Portugal, Romania, Russian Federation, Slovakia, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Thailand, Trinidad and Tobago, Tunisia, Turkey, Ukraine, United Kingdom, Venezuela, Viet nam.
  • 34 TIEAs: Antigua and Barbuda, Argentina, Aruba, Bahamas, Barbados, Bermuda, Brazil, Cayman Islands, Colombia, Costa Rica, Curaçao, Dominica, Dominican Republic, Gibraltar, Grenada, Guernsey, Guyana, Honduras, Isle of Man, Jamaica, Jersey, Liechtenstein, Marshall Islands, Mauritius, Mexico, Monaco, Netherlands Antilles, Panama, Peru, Saint Lucia, Sint Maarten, Trinidad and Tobago, Virgin Islands (British).

Exchange Control

There are generally no restrictions on foreign exchange transactions.

ACCOUNTS

Financial Statements

There is no requirement to prepare and file financial statements for Delaware corporations.

Audit

There is no audit requirement for Delaware corporations.

Annual Report

All corporations incorporated in the State of Delaware are required to file an Annual Report and to pay a franchise tax. Exempt domestic corporations do not pay a tax but must file an Annual Report. The Annual Report filing fee for all other domestic corporations is $50.00 plus taxes due upon filing of the Annual Report. Taxes and Annual Reports are to be received no later than March 1st of each year. The minimum tax is $175.00 with a maximum tax of $180,000.00.
Taxpayers owing $5,000.00 or more pay estimated taxes in quarterly installments with 40% due June 1, 20% due by September 1, 20% due by December 1, and the remainder due March 1. The penalty for not filing a completed Annual Report on or before March 1st is $125. Interest at 1.5% per month is applied to any unpaid tax balance.
Notification of Annual Report and Franchise Taxes due are sent to all Delaware Registered Agents in December of each year.

Tax Returns

The tax year coincides with the financial year and can be set at the choice of the company.
Corporate income tax returns are normally filed by the 15th day of the fourth month following the tax year-end (by 15 April if the financial year coincides with the calendar year), with possibility of extension.
Advance payments are made quarterly. The final tax payment is due by the tax return filing deadline.

International law relations

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Party to the Hague Convention (Apostille) Legal system Double tax treaties network OECD member Offshore/onshore status according to the RF laws
Yes common law 60 Yes No

Public authorities and legal acts

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List of laws and regulations
Act name Scope of law
Delaware Code state law
Limited Liability Company Act LLC
General Corporation Law corporations
Personal Income Tax Act personal income tax
Corporation Income Tax Act corporation tax
US Internal Revenue Code taxation in the US
Tax treaties entered Australia, Austria, Bangladesh, Barbados, Belgium, Bulgaria, Canada, Chile, China, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Kazakhstan, Korea (Republic of), Latvia, Lithuania, Luxembourg, Malta, Mexico, Morocco, Netherlands, New Zealand, Norway, Pakistan, Philippines, Poland, Portugal, Romania, Russian Federation, Slovakia, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Thailand, Trinidad and Tobago, Tunisia, Turkey, Ukraine, United Kingdom, Venezuela, Viet nam
Tax Exchange Information Agreement (TEIA) Antigua and Barbuda, Argentina, Aruba, Bahamas, Barbados, Bermuda, Brazil, Cayman Islands, Colombia, Costa Rica, Curaçao, Dominica, Dominican Republic, Gibraltar, Grenada, Guernsey, Guyana, Honduras, Isle of Man, Jamaica, Jersey, Liechtenstein, Marshall Islands, Mauritius, Mexico, Monaco, Netherlands Antilles, Panama, Peru, Saint Lucia, Sint Maarten, Trinidad and Tobago, Virgin Islands (British)
List of state regulatory authorities
Delaware Government http://www.delaware.gov
Delaware Division of Corporations http://www.corp.delaware.gov/
Delaware Division of Revenue http://revenue.delaware.gov/index.shtml
One Stop Business Registration and Licensing System https://onestop.delaware.gov/osbrlpublic/
Delaware Economic Development Office http://dedo.delaware.gov/
US Department of the Treasury http://www.treasury.gov/Pages/default.aspx
US Internal Revenue Service http://www.irs.gov/

    Legal Partner of Review:

    Corporations & Companies, Inc. (CorpCo®)

    Corporations & Companies, Inc. (CorpCo®) is a professional incorporation service company based in the incorporating capital of the world, the State of Delaware, and is owned by attorneys with more than forty years of combined experience. Since 1972, our professional staff has assisted entrepreneurs, accountants and attorneys in forming and maintaining their corporations and companies.

    Delaware LLC Formation

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    Regards, GSL Law & Consulting Lawyer, Head of UK GSL office Aniko Sebok

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    Valerija Filipova

    GSL Law & Consulting Lawyer, London Office

    Office phone:

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    Office phone:

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    c  !

    Your question was successfully sent to the GSL office.

    — In the near future you will receive a detailed answer to it. Typically, the response rate does not exceed 24 hours.

    — If your question is urgent, you can always contact me on the office or mobile phone number listed on the site or chat on Skype.


    Regards, GSL Law & Consulting Lawyer, London Office Valerija Filipova

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