State Information

Delaware

Selecting the Delaware Corporation or LLC Name

When selecting a name for a corporation based in Delaware, it should be remembered that the name will be unique and will identify you as a separate entity transacting business in the state. The name you choose for the corporation must end with “Incorporated,” “Corporation,” “Corp” or “Inc.”. When developing a name for a limited liability company it must end with “Limited Liability Company” or “LLC”.

The name you choose for your Delaware business will be identifying your corporation or LLC as a unique entity. The name will not be accepted if it is likely to mislead the public or if it too closely resembles the name of another corporation or LLC formed in Delaware.

You should not use any type of punctuation such as dashes, periods or commas in corporation or LLC name selection. It is recommended that you try to name your corporation or LLC so that it identifies with the goods or services you provide, but this is not required.

Selecting a Board of Directors

A corporation formed under Delaware law can have several members listed as directors but is only required to have one member listed. Since the board is responsible for managing the corporation, it is suggested that the board be comprised of individuals that are officers or shareholders who have some type of daily involvement with the corporation. There is no minimum age requirement for a director in Delaware.

Delaware Taxes

Delaware corporations are expected to file the Delaware Corporation Income Tax return, Form 1100 or Form 1100S annually, whether a “C” or “S” corporation. The amount of tax is dependent on a number of factors. All corporations are required to file an annual franchise tax report and pay a franchise tax. The minimum amount due is $30.00.

LLC’s based in Delaware is required to file as either a corporation or a partnership dependent on the election made on the SS-4. Delaware maintains an individual income tax so employers are expected to withhold state income tax and unemployment tax. Delaware does not maintain a sales and use tax, but imposes a gross receipts tax on the seller of goods, or the provider of services.

Registered Agent

The registered agent must have a physical street address within Delaware state. PO boxes are not acceptable, within Delaware.

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