Requirements for Delaware Company Formation

Dec. 27, 2009 - PRLog -- Before you can enjoy these benefits, there are certain requirements that you have to meet for Delaware Company Formation.

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The first thing you need to do is to select the kind of entity that will meet your needs. You can choose limited liability companies, general corporations, non-stock corporations or close corporations. If you want a close or general corporation, you will have to specify the value of shares that you will authorize.  

You also need to select a package for Delaware Company Formation and make sure that it meets your requirements. There are three types of packages that you can use to form your business including premium, standard and basic.

Delaware Company Formation also requires you to choose a name for your business. You also need to include a suffix that indicates the type of business. There are certain words that you cannot include in your company name including bank, college, university, insurance and trust. The suffixes that are allowed include Incorporated (Inc.), Limited (Ltd.), Company (Co.), Corporation (Corp.) and Limited Liability Company (LLC. L.LC.) It is possible to reserve a name for your business but this is only possible if it is available.

For Delaware Company Formation you need to have a Federal Tax number. You can easily get it by getting in touch with the IRS offices. If you are not a U.S citizen, you may be required to meet some additional requirements before getting your tax number from the IRS. There is no fee for the tax number if you get if from the IRS.

A bank account is important if you are interested in Delaware Company Formation but the advantage is that you do not have to open one in Delaware. You can open a business bank account in any location that is convenient for you.

A registered agent from Delaware is also required by the law for Delaware Company Formation. You can name your business as a registered agent but it is better to name another company because this will allow you to concentrate on the business. A registered agent will deal with all the legal and government documents that are required for the business. Some of these documents include lawsuits and tax reports. If you want to make sure you get anonymity from creditors, using a registered agent is a good move because they will act as a buffer.  The agent is required right from the beginning and especially during the franchise tax time that takes place each year.

It will not cost you too much to hire a registered agent and the payments are usually made annually. The best thing about it is that you will not even have to worry about the fee increasing once you have formed your company in Delaware. The fee paid to the registered agents is included in the business formation packages that are available.

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