The Delaware Annual Report

Pay Your Corporation Franchise Tax Now

Like many states, Delaware requires that every corporation incorporated in the state file an annual report. The report is due by March 1 every year, along with an annual Franchise Tax payment for all corporations.

The Delaware annual report must include the following basic internal details about the corporation:

  • The physical address of the company's location
  • The name and address of one officer
  • The names and addresses of all Directors
  • Authorization by an officer to file the report
In addition to the above, companies that have more than 5,000 shares have the option to recalculate their Franchise Tax using the assumed par value capital method by providing the total gross assets (as listed on the company's federal tax return, Form 1120, schedule L) as well as the total number of issued shares (found on the company's stock transfer ledger).

Many corporations report the same information each year. While it may be tempting to write "same as last year" on the report, the state of Delaware requires the details be listed every year in order to keep the corporation in compliance.

The annual report is filed with the Delaware Secretary of State's office, where it remains part of the company's official filing history. Every annual report that is filed by the company is kept on record and stored electronically with the state.

Annual Report Modifications

Occasionally, details listed on an annual report will change-perhaps a Director resigned or the corporation's physical address has changed. When these types of changes occur, an amended annual report will need to be filed with the state of Delaware. The state will not allow for a partially-amended report to be submitted, with just the new details filled out. Instead, a new, updated report must replace the old one. The state accepts amended reports for up to a year after the original filing.

Harvard Business Services, Inc. can help obtain a copy of a previously filed report or file an amended report for a company. Our experienced staff is available via phone (800-345-2677), email or live chat.

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