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As you know by now, the State of Delaware LLC/LP Franchise Tax is due annually by June 1. Harvard Business Services, Inc. has been sending plenty of reminder notices via mail and email to make sure you make payment arrangements before the deadline.
If you don’t pay on time, the state of Delaware is going to impose a $200 late penalty plus 1.5% monthly interest on your company. In addition, the company is going to be put in a ceased good standing status. Since you likely don’t want to pay any more fees than you have to, it’s a good idea to take care of the filing sooner rather than later.
You might be thinking that because we are talking about a tax that the filing process is difficult, cumbersome and will require a lot of your valuable time. Not the case. To make filing as easy as possible, Harvard Business Services, INc. has created a simple and efficient online payment system.
So let’s get started. First make sure you have your full Company Name and corresponding Delaware State File Number ready. If you don’t have these items, no worries, just contact our office and we will provide the details to you.
Once you are ready, visit our secure website at www.delawareinc.com/payft/. On this page, you will need to enter your Company Name and Delaware State File Number previously mentioned. Next, you need to provide some basic contact details. Enter your First Name, Middle initial (optional) and Last Name in the three (3) separate boxes shown.
Then enter a telephone number, in case we need to contact you with any questions. Finally, enter your email address, exactly the same, in the two (2) boxes indicated. This is the email address where your payment receipt is going to be sent to. The next section asks for your Principal Place of Business, but since you are paying the Franchise Tax for an LLC/LP, you do not have to complete this section. Check “Yes,” you are paying for an LLC/LP. Now you are rolling right along….click the “Continue to next page” box.
You will now see a Review Page. Confirm your information and correct any inaccuracies using the Edit button. Click Continue to Next Page.
At the top of this page is the Franchise Tax Calculation, which is basically a breakdown of how much you owe. If you have a prior balance, it will be shown here. Now you know exactly how much you have to pay for the annual Franchise Tax fees. Next, provide a form of payment; you can pay with a debit or credit card, such as Visa, MasterCard, American Express or Discover by filling in the customary credit card information in the boxes indicated. Or you can pay with your valid PayPal account. If you choose this option, you will be redirected to the PayPal website for further processing.
Now all you have to do is check the box to agree to the Terms and Conditions and then click the Place Order button. You are done! Wasn't that easy?
In a few minutes you should check your inbox for a receipt. If the receipt hasn’t arrived yet, you might want to check your spam folder too, just in case.
At this point, Harvard Business Services, Inc. is going to start processing your Franchise Tax filing with the state of Delaware. Once the state Franchise Tax authorities have approved your filing, you will receive a separate email confirmation from Harvard. This typically takes about five to ten business days.
If you have any questions about the filing process, just let us know and we will be glad to help. Send us an email at firstname.lastname@example.org or call us at 1-800-345-2677 or 1-302-645-7400, Extension 6904.
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.