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Lost Proof of Existence? Steps to Recover Your Company's Identity in Delaware

Lost Proof of Existence? Steps to Recover Your Company's Identity in Delaware

Losing proof that your company exists in Delaware can be a stressful situation. This critical documentation is essential for establishing your business's legal existence and is required for many business transactions. However, accidents happen, and important papers can be misplaced or destroyed.

If you find yourself unable to locate any proof that your Delaware company exists, don't panic. There are steps you can take to recover your company's identity and ensure its continuity in Delaware.

Cash Method of Accounting vs. Accrual Method

Cash Method of Accounting vs. Accrual Method

Accounting is an essential part of any business, as it helps to keep track of finances and ensure that a business is profitable. Two of the most common methods of accounting are the cash method and the accrual method. These are sometimes called cash basis accounting or accrual basis accounting. While both methods have their benefits and drawbacks, it's important to understand the differences between them in order to choose the best method for your business. Additionally, the type of entity that you have can dictate which method of accounting you are allowed to use.
Holiday Hours

Holiday Hours

In anticipation of the upcoming holidays, we'd like to take a moment to share our holiday hours with you. 

On Friday, December 23rd, we will be closing at 2pm EST.

We will be closed on Monday, December 26th in observance of Christmas Day and Monday, January 2nd in observance of New Year's Day. 

All About Public Benefit LLCs

All About Public Benefit LLCs

With the rise of public consciousness regarding sustainability and corporate responsibility, more business owners are looking for ways to further their mission and business with an eye for the future. The state of Delaware has long been a leader in corporate governance so it’s no surprise that they’ve adapted to the times by adding an entity type to meet the needs of the modern business owner.

S-Corp vs. LLC - Which is Right for Your Business?

S-Corp vs. LLC - Which is Right for Your Business?

New business owners often struggle to determine if forming an LLC or incorporating is the right option for them.

LLCs and S-Corps are commonly cited options, particularly for solopreneurs. But while they have some overlapping benefits (like pass through taxation), they have several notable differences. 

What to Do After You Start Your LLC

What to Do After You Start Your LLC

This is part five of our series, Start an LLC with Me. So far, we’ve started a Delaware LLC, gotten an EIN number, opened a business bank account, and gotten a business license.

For many business owners, all the official parts of the setup process are complete! These days it’s common to have a website and social media accounts for a business before it’s official. You may have already set up a few of these things (my partner and I had before we officially started our LLC).

Let’s look at some of the most important unofficial parts of setting up your business.

Important Notice: Delaware LLC Franchise Taxes Due June 1st

Important Notice: Delaware LLC Franchise Taxes Due June 1st

As a reminder, the 2021 Delaware LLC Franchise Tax due date is approaching.

To avoid penalty and interest, the tax must be paid by June 1, 2022.

Franchise taxes are assessed annually on every LLC entity registered in Delaware, regardless of level of business activity. Franchise tax for LLCs is a flat rate of $300 that must be paid by June 1st every year. You can learn more about why it's called a franchise tax here.

How to Get a Business License

How to Get a Business License

This is the fourth post in our series Start an LLC with Me. In our first post, readers came along as I officially formed an LLC. I then got an EIN number (and shared step-by-step instructions) and opened a business bank account. Next up: getting a business license.

Business licensing is probably the least straightforward of the steps to opening a business. This is because business licensing varies greatly by location. In some jurisdictions or industries, you may not need a business license at all. In others, you may need one at the federal, state, county, and city level.

Opening a Business Bank Account

Opening a Business Bank Account

Welcome to part three of our series, Start an LLC with Me. If you missed it, in part one I walked you through how to start a Delaware LLC, step-by-step. In part two, we went over how to apply for an EIN number with the IRS.

Today we're heading on to the next step most LLC's take: opening a business bank account. 

How to Get an EIN Number

How to Get an EIN Number

This is part two of our series, Start an LLC with Me. In this series we're walking you through each step to setting up an LLC and becoming a fully operational small business. Read part one here

If you recall from our first post of the series, my friend and I started a small business that began to make money. My accountant advised us to form an LLC for tax purposes. We officially formed an LLC with The Incorporators and received all the documentation we need to move forward with setting up other elements of our business.

Start an LLC with Me

Start an LLC with Me

Today we’re beginning a series to walk new business owners through all the initial steps to form a Delaware LLC and get their business up and running.

Like many people, the pandemic has given me time to explore my strengths and hobbies from home. A fun side project I was doing with a friend has begun to make money and my accountant advised us to start an LLC.

select the right registered agent

Why It’s Important to Select the Right Registered Agent

Selecting a registered agent may feel like a daunting task. With so many service providers available, it may feel like who you select doesn't really matter. But registered agents provide a critical business service and it's important that you select a registered agent who is ready to be your partner in entity management.