2018 Franchise Tax for Corporations – Calculate Yours

By Amy Fountain Monday, December 10, 2018

Franchise taxIf you have a Delaware Corporation, you can now file your 2018 Annual Report and pay your Franchise Tax on line, easily. It is required that you file by March 1 every year in order to keep your company in Good Standing.

The most efficient way to complete this important task is through our new client account management platform— My Control Desk or MCD for short. My Control Desk is free to our clients. If you filed your Franchise Tax through Harvard last year, we can pre-populate your company details in the form, so you fill in less information and save time. Also, you can easily bulk file the companies you select, if you have more than one company.

When you file your Delaware Franchise Tax, you complete the annual report at the same time. To initiate the online process of filing the Annual Report, you need the name of the company and the state of Delaware file number. (There is an Annual Report fee of $50.  Non-Profit companies that file an Annual Report pay a reduced rate of $25.)

To determine the amount of Franchise tax due, you can use our Franchise Tax calculator. The amount due is dependent on the number of shares the company has authorized and issued, and the company’s total gross assets. The total tax will be a minimum of $175 and a maximum of $200,000.)

We always encourage our clients to file their Annual Reports and pay their Franchise Tax fees as soon as possible. If this is not done by March 1, the Delaware Secretary of State automatically imposes a late penalty and charges monthly interest. Should your Annual Report go unfiled and/or the appropriate Franchise Tax fees go unpaid for two consecutive years, the company is voided by the Delaware Secretary of State.

If you use Harvard Business Services, Inc. (delawareinc.com) as your Delaware Registered Agent you can create your free My Control Desk account, just by selecting the button below. If you have any questions, we can be reached by phone 1-800-345-2677, live chat, or email accounts@delawareinc.com.

 https://mcd.delawareinc.com/create-account

Note: This notification does not apply to Delaware LLC/LP companies. Delaware LLC/LP companies have an annual Franchise Tax fee due by June 1 of every year.

Feel free to contact us directly with any questions at payments@delawareinc.com or 800-345-2677 Ext. 6904.

Disclaimer

THE AUTHOR OF THIS BLOG ARTICLE IS NOT A LAWYER AND HARVARD BUSINESS SERVICES, INC. IS NOT A LAW FIRM. THE ARTICLE ABOVE IS NOT INTENDED AS LEGAL ADVICE AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. THIS SHORT ARTICLE IS STRICTLY TO MENTION SOME ASPECTS OF DELAWARE'S CORPORATION LAWS AND/OR LAWS RELATING TO OTHER FORMS OF ENTITIES WHICH YOU MAY NOT BE FAMILIAR WITH. WE RECOMMEND THAT YOU CONSULT WITH A LAWYER BEFORE FORMULATING A STRATEGY WHICH WILL BE SUITABLE FOR YOUR SPECIFIC CASE.

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