Delaware Co question.

[Sid70]

Looking for some answers in regards to running an Delaware based LLC.
Are there any extra tax payments aside the yearly license fee? Any tax reporting?
If so, can it be fixed via internet remotely?

And would there be any difference if the bank account is US based or non-US based.

Thanks.

[arock10]

Gfy accountants to the rescue

[iSpyCams]

I have several DE corps. No additional taxes in Delaware aside from the franchise fee that I know of, definitely no state income tax in my situation (online business not living in DE) and I seem to recall sales tax being a non issue for most online virtual services type applications, such as streaming video. You will need to retain a registered agent, this runs about 99/yr. depending on the service.

The registered agent's address is only for emergency contact from govt' agencies and regulatory type stuff, you can't use it as a business address for general stuff. I use incnow.com for both filing and registered agent service but just because that's the first thing I found when searching. No affiliation or kickback from them, I don't specifically recommend them, I haven't shopped around so can't compare.

You will need to file a federal tax return in the US for your corporation regardless of where you bank, or a schedule whatever it's called for a disregarded entity such as a sole proprietorship, single member LLC or S-Corp. Also if you want US based processing you will need a US bank account - which you can get with an EIN # that can be obtained online for free from the IRS as soon as the corp is established, or for a fee from whoever does the corp paperwork. I think it's $50 to have them do it but it's trivial to do yourself.

I am not sure what this process would be like as a non US resident, I have been able to do everything remotely including the bank account setup with B of A but as a US citizen that may not be as easy for someone else.

My go-to solution for virtual offices is davincivirtual, in case you don't want to list your home address as the business address of an adult website, you can get a reasonably respectable address with mail forwarding for $50/mo.

For cheap phone #'s I use kall8.com

It's all pretty painless eventually, between billing and customer service and DBA's, filings and reports and such it can be a lot of steps and a lot of hassle, especially with multiple corps. Make sure you keep an updated spreadsheet handy (google sheets) with all the details as they get lost over time and get hard to keep track of if you have a few, an extra few minutes to organize saves hours and days and money and frustration later.

Good Luck!

Disclaimer: I am not a lawyer or an accountant nor am I affiliated with any of the above mentioned businesses and services. My only qualification for giving any advice is personal experience and the only benefit I receive is the ability to be helpful.

[ITraffic]

Originally Posted by iSpyCams

I have several DE corps. No additional taxes in Delaware aside from the franchise fee that I know of, definitely no state income tax in my situation (online business not living in DE) and I seem to recall sales tax being a non issue for most online virtual services type applications, such as streaming video. You will need to retain a registered agent, this runs about 99/yr. depending on the service.

The registered agent's address is only for emergency contact from govt' agencies and regulatory type stuff, you can't use it as a business address for general stuff. I use incnow.com for both filing and registered agent service but just because that's the first thing I found when searching. No affiliation or kickback from them, I don't specifically recommend them, I haven't shopped around so can't compare.

You will need to file a federal tax return in the US for your corporation regardless of where you bank, or a schedule whatever it's called for a disregarded entity such as a sole proprietorship, single member LLC or S-Corp. Also if you want US based processing you will need a US bank account - which you can get with an EIN # that can be obtained online for free from the IRS as soon as the corp is established, or for a fee from whoever does the corp paperwork. I think it's $50 to have them do it but it's trivial to do yourself.

I am not sure what this process would be like as a non US resident, I have been able to do everything remotely including the bank account setup with B of A but as a US citizen that may not be as easy for someone else.

My go-to solution for virtual offices is davincivirtual, in case you don't want to list your home address as the business address of an adult website, you can get a reasonably respectable address with mail forwarding for $50/mo.

For cheap phone #'s I use kall8.com

It's all pretty painless eventually, between billing and customer service and DBA's, filings and reports and such it can be a lot of steps and a lot of hassle, especially with multiple corps. Make sure you keep an updated spreadsheet handy (google sheets) with all the details as they get lost over time and get hard to keep track of if you have a few, an extra few minutes to organize saves hours and days and money and frustration later.

Good Luck!

Disclaimer: I am not a lawyer or an accountant nor am I affiliated with any of the above mentioned businesses and services. My only qualification for giving any advice is personal experience and the only benefit I receive is the ability to be helpful.

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