The HBS Blog on Delawareinc.com provides Delaware incorporation information and general business news you need to know now.
Fall is upon us, and it’s a good time to start thinking about forming your own company.
In order to help you get started, Harvard Business Services, Inc. will continue to offer the biggest discount in our 34-year history. Yes, we are once again offering $60 off all LLC, corporation and limited partnership formation packages for the entire month of October.
All formation packages will be discounted $60, and this landmark rate will be available starting October 1, 2015 at 12:00 AM ET and will expire on October 31, 2015 at 11:59 PM ET.
To apply your discount, simply enter “HBS2015” on our online order form.
All of our packages feature all-inclusive pricing and include the following:
You can view and compare all our business formation packages and find more information on Our Services page.
When you’re ready to take a life-changing step and form your own company so you can become your own boss, the helpful business formation specialists at Harvard Business Services, Inc. will be ready to help. We will answer all your questions and walk you through the entire process via phone (1-800-345-2677), live chat, email (firstname.lastname@example.org) or Skype (Delawareinc). We appreciate your business and look forward to assisting you with all your incorporating needs.
People tend to think of very successful (and subsequently wealthy) entrepreneurs and cultural leaders as extraordinary and singular human beings, and sometimes they are. Usually, however, they are just highly attuned, exceedingly motivated thinkers who would rather try and fail for themselves than work for someone else. Yet there are some common threads that run between world-famous entrepreneurs and cultural leaders, and one of them is daily tasks.
Plan your time! Successful people tend to have a set schedule. Their schedule is arranged in advance, before that day, before that week and sometimes even months before. Of course, their schedule can change, and certain variables will alter appointments, meetings and business dinners, but starting with an organized, prearranged schedule allows busy professionals to avoid wasting time throughout the day, thinking about their next move. It seems simple and obvious, but adhering to a set schedule—in all aspects of one’s life—can help lead to success.
Exercise! Successful people take time to work on their fitness goals. Whether they are working out, jogging, biking, swimming or practicing yoga, successful people understand that in order to have the energy to complete their daily tasks, they must feel good physically. Take a look at the most successful people in the world—entrepreneurs, singers, actors and actresses, CEOs, TV and film producers—and you will very likely see that almost all of them block out time for fitness, regardless of how busy the rest of their schedules are.
Personal Development! Successful entrepreneurs understand that in order to maintain the level of success they have already achieved, they must continue to learn, grow and improve their craft. They often add personal development into their schedule, knowing there will always be someone who can provide them with guidance, advice and new knowledge, so these inquisitive people make time to learn something new every day. Personal development is easier than ever now; all you need is an internet connection and a laptop (or a tablet or cell phone). You can watch industry leaders and all types of icons discuss just about any topic on TED, and you can find inspiration in your own community by listening to local leaders on TEDx. You can even take free, challenging online courses via several MOOC (Massive Open Online Courses) websites, such as Mooc List, which is an aggregate list of worldwide MOOCs. If you are a high achiever, you may prefer the remarkable selection of Ivy League MOOCs; you can take courses taught by real Ivy League professors from Brown, Columbia, Harvard, (Harvard also offers numerous video lectures, taught by some of the world’s greatest professors, through its Open Learning Initiative), Princeton, University of Pennsylvania and Yale. If you have varied interests and would like to learn about something related to your business, you can easily utilize Coursera, which offers courses on a multitude of subjects from universities. Through Coursera, you can take “Strategic Business Analytics Specialization” from the ESSEC Center for Excellence for Digital Business in France; “Think Again: How to Reason and Argue” from Duke University in North Carolina; “iOS Development for Creative Entrepreneurs” from the University of California, Irvine; “Inspirational Leadership: Leading with Sense” from HEC Paris; “Leading People and Teams” from the University of Michigan; or “Wireless Communication Emerging Technologies” from Yonsei University in South Korea. Or, just for fun, consider “Magic and the Middle Ages” from the University of Barcelona; “Greek and Roman Mythology” from Penn; or “Dog Emotion and Cognition” from Duke University. If you prefer to expand your horizons the old-fashioned way, simply pick up a book whenever you have spare time. You can even listen to audio books while you commute. Many successful entrepreneurs admit to reading over 60 books per year. How many books did you read last year?
Eat Breakfast! This is another simple but overlooked task. We all know breakfast is the most important meal of the day, but not all of us live by this rule. Successful people, however, seem to take the adage more seriously. Despite schedules filled with numerous responsibilities, a variety of locations and business decisions that may seem much more important than eating breakfast, highly successful people still eat breakfast. They acknowledge that they simply do not perform as well when they are hungry (what type of performing they do is irrelevant); they are not as aggressive, not as creative, not as focused and not as motivated. For most entrepreneurs and cultural leaders, this small step is an easy way to gain a competitive edge.
Reflect! Revisit successes and failures throughout the day, and consider whether or not you reached a goal, missed a deadline or grew your business. Successful entrepreneurs and cultural leaders take time to acknowledge their daily accomplishments, and also explore the ones on which they fell short. They ponder what happened, and what can be done differently in the future. A lot of successful entrepreneurs and cultural leaders contemplate their goals at least twice a day. If you compare this to average people, who tend to only scrutinize their aspirations at the end of the year (in the form of New Year’s resolutions), it becomes fairly obvious who has a clearer capacity to reach their career and personal objectives.
These are just five daily tasks that all of us can implement in order to emulate some of the most successful entrepreneurs and cultural leaders in the world. Start tomorrow, with these five, expand on them as you can and be sure to let us know how you’re doing. Please feel free to add suggestions for other daily tasks in the Comments section below, on our Facebook page or on our LinkedIn page.
Many people mistakenly believe they need an attorney or accountant in order to form an LLC or corporation. This is not true; it is not a requirement to use an attorney or accountant when forming a company, unless you have specific legal or accounting questions with which Harvard Business Services, Inc. is not able to assist. However, when people do retain an attorney or accountant to help them form a company, those professionals often turn to us to handle the filing.
Here at Harvard Business Services, Inc., we have been assisting attorneys and accountants form Delaware LLCs and corporations since 1981. We are electronically linked with the Delaware Division of Corporations, so we can have your company filed on the same day you initiate the service. We then email your attorney or accountant the approved documents in 2 to 3 business days.
Below are other important reasons why attorneys and accountants utilize Harvard Business Services, Inc. for company formations:
If you are an attorney or accountant and your client has asked you to form a Delaware LLC or corporation, take advantage of all the above benefits Harvard Business Services, Inc. has to offer. Call us at 800-345-2677 or email us at email@example.com.
We will be happy to answer any questions and assist you in filing a Delaware LLC or corporation on behalf of your client.
One of the annual obligations a Delaware business entity must fulfill is filing and paying an annual Franchise Tax. For years, Harvard Business Services, Inc. has offered assistance to help our clients ensure their Franchise Tax filing is accurately completed with the state of Delaware. Each year, thousands of clients utilize our services to take care of their Franchise Tax filing. However, there are some clients who choose to file directly with the state of Delaware. What’s the difference? Which way should you file your Franchise Tax?
Consider these two scenarios:
Ike owns numerous Delaware business entities. He decides to file his Franchise Tax fees directly with the Division of Corporation’s Franchise Tax Department. He mails several different checks to cover the Franchise Tax fees for all his separate entities. Unfortunately, the transaction does not go smoothly. The state indicates there is a prior balance on some of his entities while other entities show a credit on the accounts. Ike is positive he paid Franchise Tax on all of his entities correctly, but that is not what is on record with the state’s Franchise Tax Department. The discrepancies can be traced back a couple of years, which means there is a lot of research to investigate. Now Ike has to spend his valuable time searching through cancelled checks, bank statements and entity records to figure out what happened. In the meantime, some of his business entities are imposed additional late penalties as well as interest fees. Now the situation is worse and Ike is even more frustrated.
Sam also owns several business entities registered in the state of Delaware. He doesn’t want to deal with the hassle of filing his Franchise Tax reports himself, so he lets Harvard Business Services, Inc. take care of everything for him. Sam receives email confirmations for all his Franchise Tax transactions, so he knows exactly when the process is complete. A few months later, during a routine audit for a specific entity, Sam is required to provide receipts for all his past Franchise Tax filings. He contacts Harvard Business Services, Inc. and instantly obtains all the necessary copies of the requested documentation. Sam doesn’t have to worry about searching through old records to find what he needs, nor does he have to waste any of his time. Harvard Business Services, Inc. is able to quickly do all the work for him, saving him time, aggravation and money.
The moral of this Franchise Tax story is: Don’t be like Ike. Let Harvard Business Services, Inc. take care of your business entity’s annual Franchise Tax filing so you can focus on more important business matters.
The 2015 Lawsuit Climate Survey “Ranking the States: A Survey of the Fairness and Reasonableness of State Liability Systems” from the U.S. Chamber Institute for Legal Reform is out, and for the tenth year in a row, the state of Delaware was voted number one. The purpose of this survey, which has been conducted every other year since 2008 (from 2002 to 2008 it was conducted annually), is to outline how corporate lawyers assess the state governmental systems in which they work and interact. They are asked to evaluate their opinions of each state’s liability procedure, using a 1-50 ranking of significant elements. Those surveyed were part of a “national sample of 1,203 in-house general counsel, senior litigators or attorneys, and other senior executives at companies with at least $100 million in annual revenues who indicated they: (1) are knowledgeable about litigation matters; and (2) have recent litigation experience in each state they evaluate” (“Ranking the States”). Although attorneys were asked to comment on states in general, they did have an opportunity to comment on local jurisdictions with the least fair or reasonable lawsuit environments, and the bottom five on this list are:
East Texas: 26%
Chicago/Cook County, Illinois: 20%
Los Angeles, California: 16%
Madison County, Illinois: 16%
New Orleans/Orleans Parish, LA: 15%
In terms of overall state rankings, after Delaware at number one, Vermont is in the number two spot; next is Nebraska, then Iowa, New Hampshire, Idaho and North Carolina. Wyoming fell five spots from 2012; it now ranks number eight, followed by South Dakota at nine and Utah at number ten. Wondering where the supposedly-corporate-friendly Nevada ranks? Number 35, below Alaska, Kansas, Ohio and Oklahoma. New York ranks 21, despite Governor Andrew’s Cuomo impressive efforts to attract businesses to the state through his $35 million Global NY Development Fund and a $140 million advertising campaign called “New York State Open for Business.” New York fell three spots from the 2012 survey. One of Cuomo’s top officials, Howard Glaser, told the New York Times last June, in reference to the “Open for Business” campaign, that “Connecticut is spending $27 million promoting its state, Michigan $25 million, New Jersey ran a campaign to recruit businesses featuring its governor. California spent $50 million on a campaign to promote its state. We have to compete.” In addition, in 2014, Governor Cuomo created Start-Up NY, a tax-free zones program focused primarily on upstate New York, which aimed to lure new businesses to New York with zero income tax and zero business tax for ten years. At the time, he stated, “It makes New York the least expensive place in the United States to locate a business” (Poughkeepsie Journal). In 2015, Cuomo also proposed a significant tax cut for small businesses that file corporate Franchise Tax, but even with the cuts, New York’s Franchise Tax cannot compare to Delaware’s low Franchise Tax, which is fixed at $300 for any Delaware LLC.
Delaware ranks number one in the majority of the categories in which survey participants were asked to give states a grade of A – F. The ten categories are:
Of these, Delaware ranks number one in overall treatment of tort and contract litigation; having and enforcing meaningful venue requirements; treatment of class action suits and mass consolidation suits; damages; timeliness of summary judgment or dismissal; and judges’ competence. Delaware ranks number two, behind Vermont, in discovery; scientific and technical evidence; judges’ impartiality; and juries’ fairness.
It is interesting to note that neither Wyoming nor Nevada, the two states most often incorrectly compared to Delaware in terms of corporate-friendly environment, fared well in the survey. Wyoming ranked eighth overall and Nevada ranked 35th overall. In the distinct categories, Wyoming’s highest ranking was five (in Treatment of class action suits and mass consolidation suits as well as Timeliness of summary judgement or dismissal) while its lowest was eighteen (in Scientific and technical evidence). Nevada, however, failed to crack the Top 20 in any category. Its highest category ranking was twenty-five (in Scientific and technical evidence) and its lowest was forty-one (in Damages). Wyoming’s mediocre performance and Nevada’s poor performance should finally put to rest the notion that those states are in any way comparable to the truly corporate-friendly Delaware, the highest-ranked state for the tenth year in a row, in the U.S. Chamber Institute for Legal Reform 2015 Lawsuit Climate Survey “Ranking the States: A Survey of the Fairness and Reasonableness of State Liability Systems.”
If you are interested in forming a Delaware LLC or corporation, or would like more information on why so many companies incorporate in Delaware, please feel free to call Harvard Business Services, Inc. at 1-800-345-CORP (2677) to speak with one of our experienced and helpful business formation specialists. You can also email, Skype (DelawareInc) or live chat with us.