Posted by All Contributors
What Is a Banking Resolution Document? Tuesday, December 5, 2017

At the first meeting of the members (for an LLC) or the Board of Directors (for a corporation) establishing a company, a resolution about banking details is often included. Although a company may agree on several different types of resolutions during the meeting, the banking resolution is often the most commonly extracted resolution from the general minutes of the meeting.... Continue Reading

Posted In: About Corporations

What Does Every Startup Need? Monday, December 4, 2017

Certain paperwork should be completed and submitted to the state of incorporation before a startup begins doing business.... Continue Reading

Posted In: Entrepreneurs & Start-Ups

What Is Foreign Qualification? Tuesday, November 28, 2017

Foreign Qualification is the process of registering your Delaware LLC or corporation, which is considered domestic to the state of Delaware and foreign to all other states, as a foreign entity in your company's home state.... Continue Reading

Posted In: Compliance

LLC Transfer of Interests [with templates] Monday, November 27, 2017

In Delaware, the LLC Operating Agreement spells out all conditions of future sales or transfers. Traditionally, the LLC Operating agreement is amended internally within the LLC only.... Continue Reading

Posted In: About LLCs

Non-Profit Corporation vs Public Benefit Corporation Tuesday, November 21, 2017

A traditional non-profit—or not-for-profit—company aims to serve a public benefit without making a profit, as defined by the IRS. If a non-profit company decides to stop doing business and dissolve, it must distribute its assets among other non-profits.... Continue Reading

Posted In: About Corporations

How to Add a Series to a Delaware Series LLC Monday, November 20, 2017

A Series LLC is a viable option for business owners who operate multiple types of businesses—they can form a separate LLC for each aspect of their business.... Continue Reading

Posted In: About LLCs

Certificate of Incorporation: Delaware Tuesday, November 14, 2017

One of the many benefits of forming a Delaware corporation is that the Directors’ names are not required to be listed on the Certificate of Incorporation.... Continue Reading

Posted In: About Corporations

A New Company for a New Year Monday, November 13, 2017

Did you know you can set up a new Delaware LLC or Delaware corporation so it’s ready for business at the start of 2018 and you save $100 plus don’t have to pay Franchise Tax until 2019?... Continue Reading

Posted In: Business Strategies

Mission Statement vs Benefit Statement Tuesday, November 7, 2017

Both Public Benefit Corporations and Non-Profit Corporations require additional language on the Certificate of Incorporation, in the form of a Benefit Statement (for a Benefit Corporation) or a Mission Statement (for a Non-Profit Corporation). There are typically differences in the language in these two statements.... Continue Reading

Posted In: About Corporations

What Are a Corporate Secretary’s Responsibilities? Monday, November 6, 2017

Many people think a Corporate Secretary’s role is merely to take and record meeting minutes. While doing so is, indeed, one of the Corporate Secretary’s responsibilities, it is nowhere near the entirety of this pivotal role.... Continue Reading

Posted In: About Corporations

Changes to Delaware’s Corporate Franchise Tax Fees Wednesday, November 1, 2017

The Delaware General Assembly passed House Bill 175, which affects some taxes and fees imposed by Delaware’s Secretary of State. All the amendments have been approved. Some are already in effect and some will not be applicable until January 1, 2018.... Continue Reading

Posted In: About Franchise Tax

Can I Operate Multiple Businesses Under One LLC? Tuesday, October 31, 2017

It is possible and permissible to operate multiple businesses under one LLC. Many entrepreneurs who opt to do this use what is called a "Fictitious Name Statement" or a "DBA" (also known as a "Doing Dusiness As") to operate an additional business under a different name.... Continue Reading

Posted In: About LLCs

How to Operate a Delaware Company in South Carolina Monday, October 30, 2017

If you would like to operate a Delaware company in South Carolina, you must complete the process of Foreign Qualification in order to register your business as a foreign entity there.... Continue Reading

Posted In: Compliance

4 Things to Know about Corporate Bylaws [Free Template] Tuesday, October 24, 2017

Corprate bylaws provide the granular detail into how the corporation will operate and what its governance mechanics will be. They also describe the relationship among its Board of Directors, its officers and its shareholders.... Continue Reading

Posted In: Entrepreneurs & Start-Ups

Want to Register a Delaware Company in Rhode Island? Monday, October 23, 2017

You can operate a Delaware company in any state, as long as you foreign qualify the company and stay in compliance in both your domestic and foreign state.... Continue Reading

Posted In: Compliance