Delaware LLC Formation
If you want to form a business entity that earns a profit, but limits taxes and personal liability, you may want to consider forming a Limited Liability Company (LLC). LLCs also have the same powers afforded to a corporation. Forming an LLC in Delaware is easy, fast, and affordable.
|Delaware LLC Costs|
|Delaware Filing Fee||$90|
Naming the LLC
The name of the limited liability company must contain the words "Limited Liability Company'' or the abbreviation "L.L.C.'' or the designation "LLC". The LLC name can 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.
You will only need to provide the name of your LLC and the Registered Agent's name and physical address.
Steps to Forming a Delaware LLC
- Complete the TotalLegal online interview.
- TotalLegal performs an LLC name availability search.
- TotalLegal will file your LLC with the Delaware Secretary of State.
When approved, TotalLegal will upload your Articles of Organization to your account, and send you an email letting you know you are approved to do business in Delaware.
Delaware LLC Advantages
- Delaware LLCs are usually approved in 7-10 business days.
- Privacy. Only an "authorized person" needs to sign the Articles of Organization, keeping the member's name(s) private.
- Enhanced protection. Delaware state law protects the LLC from its member's creditors.
Maintaining an Delaware LLC
It's not hard at all. Delaware LLC do not have to file an annual report like in most other states. LLCs pay an annual franchise tax, which is done online. The flat-rate franchise fee is $300.
Making Changes to Your LLC
To amend your Articles of Organization, you will need to file a Certificate of Amendment, and the fee is $200. If you only need to change the Registered Agent, or Registered Office address, the fee is only $50.
Why use TotalLegal?
TotalLegal provides your LLC with a free Operating Agreement. Since your approved LLC's Articles of Organization do not list the owners (members) of the LLC, having all of this information in your Operating Agreement will make opening a bank account for your LLC in Delaware very easy.