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Not quite sure why you pay a Franchise Tax here in Delaware or when the Delaware Franchise Tax is due for a Corporation or LLC?
Harvard Business Services, Inc. is here to answer those and any other questions you may have. In this video, our Sales Executive Heather Garza explains what the term Franchise Tax means here in Delaware and when it is due for a Corporation or an LLC. Harvard Business Services, Inc. makes it easy to pay your Delaware Franchise Tax.
Have you ever wondered what the term Franchise Tax means or why you have to pay tax for your company in Delaware?
When you hear the word “franchise,” it may conjure up images like McDonald's, Burger King and Subway. When speaking from a corporate standpoint, “franchise” means the privilege given by the state to have an entity filed with them. Here in Delaware, the franchise tax is the annual fee you pay for that privilege.
If you have a corporation, your franchise tax is due by March 1st every year. If you have an LLC, your franchise tax is due by June 1st every year. As your Delaware Registered Agent, we will send you plenty of notifications and the official tax notices well in advance of the actual due dates so you have ample time to make payment arrangements.
At Harvard Business Services, we're here for you!
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.