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The HBS Blog offers insight on Delaware corporations and LLCs as well as information about entrepreneurship, start-ups and general business topics.

Keep Your Contact Details Current
By Brett Melson Monday, June 22, 2015

keep your contact details currentThere are very few requirements to maintain a company’s good standing with the state of Delaware. In addition to paying the annual $50 Delaware Registered Agent Fee and paying the annual Delaware Franchise Tax to the Delaware Division of Corporations, clients need to ensure that Harvard Business Services, Inc. has accurate contact information for their company. A Registered Agent is the liaison between your company and the state in which it is incorporated. In Delaware, your Registered Agent is your intermediary with the state of Delaware's Division of Corporations.

Delaware Registered Agents are responsible for receiving and forwarding legal documents and correspondence from the Delaware Division of Corporations to clients in a timely fashion. Some examples of documents received and forwarded are Franchise Tax reports, late notices, void notices from the Secretary of State and service of process for legal actions against your company.

 As the Registered Agent, Harvard Business Services, Inc. is required to have a valid communications contact. The State of Delaware mandates the communication contact be a living person who is a manager, officer, director, shareholder, member, employee or designated agent who is authorized to receive notices from the company’s Delaware Registered Agent. 

The communications contact must provide valid contact information with a street address; however, for annual billing purposes, Harvard Business Services, Inc. can utilize a P.O. Box. The communications contact does not need to be a United States resident nor have an address in the United States. Failure to keep the information up-to-date and valid can force the Registered Agent to take drastic action, such as resigning as the company’s Registered Agent in Delaware.   This will leave the company without a Registered Agent, which places the company in a forfeited (i.e., inactive) status

It’s easy to keep your company’s contact details current with Harvard Business Services, Inc.  We offer a couple of ways for you to update the communications contact information:

By keeping your communications contact information up-to-date, your company will stay aware of any impending fees due or requirements needed to maintain your Delaware entity in good standing. 

 

Photo Credit: Paladin Zhang

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Why Do So Many Companies Incorporate in Delaware?
By Rick Bell Tuesday, June 16, 2015

Why do so many businesses incorporate in Delaware?

 

Companies incorporate in Delaware because of Delaware's corporate-friendly environment, whichwhy do so many companies incorporate in delaware offers numerous benefits in terms of convenience, tax liability and legal protection for businesses.

 

Here are just a few reasons businesses incorporate in Delaware:

 

  • In Delaware, one person can hold the title of each of the officers of the business.

 

  • Delaware has no minimum bank account requirement for a company’s bank account. This is in contrast to a number of states that require a $1,000.00 minimum bank balance.

 

  • Delaware does not require business owners to list their names when filing business formation papers; therefore, no names appear on the public record  and your company can maintain its privacy.

 

  • Delaware does not impose state income tax on businesses that do not operate within the state.

 

  • When you form a company in Delaware, Delaware is the domicile of your company, thus the rules and regulations your company follows are the Delaware corporate laws as applied by the Delaware Court of Chancery. Delaware is famous for its fair and flexible corporate laws and its case law, as dispensed by the most respected business court in the United States, the Delaware Court of Chancery.

 

  • Directors are free to set any price on shares of stock they wish to sell.

 

  • The process to form a business in Delaware is straightforward and uncomplicated; if you do so online, by phone or by mail through Harvard Business Services, Inc, we make it easy, fast and affordable for you.

 

You do not need to visit Delaware in order to form a business in the state. Delaware's Division of Corporations is the best in the world at processing business formation filings quickly, and it encourages entrepreneurs from across the country and around the world to form their businesses here. 

 

We can take care of all the necessary paperwork for you, so file your Delaware company with us today.

 

Image Attribution: Tichnor Brothers

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How To Operate a Delaware LLC in Washington, D.C.
By Devin Scott Tuesday, June 9, 2015

When people form an LLC, Delaware is often the popular choice. Delaware is recognized by many as possessing the strongest corporate law structure in thehow to operate a delaware llc in washington, dc country. What does this mean? Generally, business owners form an LLC in order to separate their businesses and their personal assets. Delaware is recognized for establishing the strongest barrier between business structures and the individuals behind the businesses. Delaware is also chosen as a corporate domicile state because a Delaware LLC can operate all over the world. When operating a Delaware LLC in another state, typically the next step for most clients would be to register the business as a foreign entity in that state. Your Delaware LLC will be domestic to Delaware and foreign to every other state. Harvard Business Services, Inc. can help your Delaware LLC obtain the necessary authority to operate in all other jurisdictions, including Washington, D.C. 

The Foreign Qualification process is the way in which the District of Columbia will grant your Delaware LLC permission to operate there. Although Washington, D.C. is not a state, it requires the same paperwork that many states require: an application, a fee and a Certificate of Good Standing from Delaware.

Harvard Business Services, Inc. provides this service to many clients operating from Washington, D.C. We prepare the application, obtain the Certificate of Good Standing from Delaware and email the forms to you for signature. Your only responsibility is to sign the forms and return them to us. The typical turnaround time for this is 15 business days. It is necessary for you to complete this step before doing business in Washington, D.C. with a Delaware LLC. Harvard can also act as your Registered Agent in Washington, D.C. for $99 per year. As your Registered Agent, we will receive any legal documents sent to your business from the District of Columbia and forward them to the contact address you provide for us.  

Once registered in D.C., your business is required to file a biennial report in order to remain in good standing. The notice of this report is often sent to your Registered Agent. Please keep in mind that a Delaware LLC registered as a foreign entity in D.C. will still be required to maintain a Registered Agent in Delaware, as well as pay the Delaware annual Franchise Tax, in order to remain in good standing with the state of Delaware.

If you would like Harvard Business Services, Inc. to register your Delaware LLC in the District of Columbia, or if you have any questions regarding this process, please feel free to call us at 1-800-345-2677, Ext. 6130, or email devin@delawareinc.com.

 

Image Credit: Wikimedia Commons

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Are We the Registered Agent for All Your Companies?
By Andrew Millman Monday, June 8, 2015

At Harvard Business Services, Inc., we’re known for our stellar Delaware Registered Agent service and the lowest annual Registered Agent rate in theregistered agent industry. Did you know we can provide Registered Agent service for all your companies, in all fifty states? Not only can we can act as the Registered Agent for all your Delaware companies, but we can also handle each of your company’s Registered Agent needs outside the state of Delaware.

Rather than trying to keep track of a variety of Registered Agents in multiple states, let Harvard Business Services, Inc. take care of all of the Registered Agent responsibilities. If you answer “yes” to any of the following questions, it may be time to change your Registered Agent:

  • Are you using an overpriced Registered Agent in Delaware and want to change Registered Agents? 
  • Are you forming a new LLC in California and need a Registered Agent?
  • Are you not getting the level of service you expected from your Texas Registered Agent?
  • Has your Registered Agent ever failed to forward correspondence from the state in a timely fashion? 
  • Has your Registered Agent ever increased rates without warning? 
  • Are you tired of paying too much for Registered Agent service?
  • Wouldn’t it be nice if all your Registered Agent invoices and correspondence came from one efficient and reasonably-priced Registered Agent?

You should not have to feel stuck with an expensive and/or unimpressive Registered Agent. You can quickly and easily switch to Harvard’s reliable Registered Agent service. We can provide Registered Agent service for all your companies, and we can also change Registered Agents for all your existing companies, in all fifty states. Don’t wait another day to start saving money. Give one of our helpful customer service representatives at Harvard a call at 800-345-2677 and ask about our Registered Agent service today.

Image Credit: Wikipediia Commons

 

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What is a DBA, or Doing Business As?
By Andrew Millman Tuesday, June 2, 2015

what is a DBA?

What is a DBA?

Do I need a DBA?

Where can I set up a DBA?

 

Every day, people inquire about setting up a DBA for their Delaware LLC or Delaware corporation. A DBA, which means "doing business as," is simply a fictitious name registration.

 

Business owners often choose to operate under multiple, different names for a number of different ventures. For example, ABC Company, Inc. may find the need to set up multiple, different DBAs using the names XYZ Landscaping, Inc. and 123 Construction, Inc.

 

While both XYZ Landscaping, Inc. and 123 Construction, Inc. are still legally recognized as ABC Company, Inc., the fictitious names can better convey the services and products the company offers its potential customers.  

 

In my experience, the current trend has business owners leaning toward incorporating a Delaware LLC or corporation with the actual name under which they plan to operate. Since the company name is often linked to a website, trademark, patent, logo or some other type of branding, setting up the DBA is kind of unnecessary.

However, it is not uncommon for people to set up a DBA as a fictitious name for a corporation or LLC formed in Delaware. The question then becomes, where do I setup the DBA?

 

Traditionally, in Delaware, the DBA registration is completed in the county in which the company predominantly operates and does business. Next you might be wondering if you need to file for your DBA in Delaware. Again, it depends where your company physically operates and transacts business. If the company is actually located and conducting business in the state of Delaware, then the answer is typically yes.

 

You can fill out the necessary forms online to set up your DBA in Delaware. Depending on where in Delaware the company is headquartered, the DBA registration can be filed with the New Castle, Kent or Sussex County Prothonotary's Office. Usually, you’ll need to provide this information:

  • Name and address of the corporation or LLC
  • Date of formation
  • The DBA or fictitious name
  • Nature of business
  • Names and addresses of members/directors/officers
  • Contact phone number
  • Name of authorized person signing the title and notarization

 

If your company does not operate in Delaware—if it operates in any other state—the same rules, in general, apply for DBAs. The DBA is still handled at the county level. If your Delaware LLC or corporation is operating in another jurisdiction, you may need to register for Foreign Qualification before filing for the DBA.

 

We’re happy to answer any questions you have about setting up a DBA for your Delaware LLC or corporation. Give us a call today at 1-800-345-2677.  We’re ready to help you.

 

Image Credit: Geralt

 

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