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Written by : Cedric Borra |
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Thanks for your comment Roxanne Lymon, have a nice day.
- Cedric Borra, Staff Member
ready to incorporate an llc in delaware but unsure where to begin today you will learn about the most common ways to start your business including the correct forms you'll need how to register your llc critical naming requirements and all other vital tips and tricks then as a bonus later on in the video i will reveal to you a trustworthy registered agent who will help set up your llc for free so make sure to stick with me until the end delaware llcs are cost effective and easy to set up the state of delaware like other states has several specific llc requirements there are three main ways you can start an llc in delaware first is the diy or do-it-yourself process where you mostly depend on delaware state's website the second way is hiring a professional service that practically offers more efficiency and security in the process of creating your llc while the third one is hiring an attorney we will skip the attorney hiring portion because that's expensive and most business owners won't need that service first let's take a look at the steps required for starting an llc on your own step one name your business before anything else you will have to think of the llc's legal business name each llc in delaware must have a distinct llc name that is not currently in use you must include the terms limited liability company or an abbreviation such as llc you cannot include phrases such as a corporation which would lead people to believe you are a different business organization knowing if your business name is taken or not is very easy just go to google and type in the words business entity records delaware secretary of state and click the first search result i also have the link in the description below for your convenience it will lead you to a landing page of business entity records in delaware scroll down a little and you will see some search options which makes checking the availability of your business name easier generally you can click the first option entity name and type in your business name for example i am typing a very common business name here car wash express which will give you a list of existing business names a unique business name will say no matches found just like this random name i typed in keep in mind that the division of revenue doesn't check names for trademark compliance it's ultimately up to you and your business attorney to ensure that your llc's name doesn't infringe on any other company's rights step two delaware requires llc to have a registered agent an agent has a physical address a po box is not allowed and is available during business hours this agent will serve as the llc's primary point of contact for receiving key legal papers tax warnings summons subpoenas and so on you can register yourself or someone in your company but i highly recommend getting a professional registered agent as they have more knowledge by protecting your company in cases of possible cracks while i agree that family members or friends are reliable enough to be trusted as your llc's agent you are more comfortable sleeping at night knowing that your agent is professional and trained to manage legal documents to avoid problems concerning court schedules filing reports with the secretary of state etc besides hiring a professional registered agent is not expensive in fact there are companies who offer a free registered agent as part of your package when you form your llc through them inc file is a company i recommend which has this free service inc file offers a free registered agent on your first year of signing up for their service during that free year you can already take advantage of a professional and trained agent to receive legal documents on your behalf a dashboard where you can always access the correspondence that your agent has received as well as email notifications and automatic forwarding whenever your registered agent receives documents step three obtain a delaware business license once you've selected a registered agent you'll want to continue the process of starting an llc in delaware by getting a business license whereas many other states don't require a general operating license delaware has strict requirements for business licenses every business that's organized in or operates in delaware must obtain a state business license from the delaware department of revenue to get a delaware business license you can create a one-stop account and complete the entire process online the filing fee you'll have to pay for your license will vary based on the type of business you run ranging from fifty dollars up to four hundred and fifty dollars when you use the one stoppy process you'll receive a temporary license that's valid for sixty days permanent licenses are typically sent within 10 days moreover on top of the state business license some delaware cities and counties require you to get a license you can contact your local government agency to find out if you need additional licenses to operate your llc this being said at the state level members of certain regulated professions must also obtain a license from the delaware division of professional regulations businesses composed of licensed professionals may choose to form a professional corporation or a regular llc unlike other states delaware does not recognize professional llc's step four filing the delaware llc certificate of formation after that you must file the certificate of formation with the delaware secretary of state's business entities division and the office of the judge of probate to officially incorporate a domestic delaware limited liability company the delaware state filing cost for llcs is ninety dollars for domestic llcs and two hundred dollars for foreign llcs what's the difference good question basically a domestic llc means that you are already a resident of delaware and you want to build a business in delaware foreign llc on the other hand is for people living outside delaware but wanting to start a business or a franchise of their business in delaware with that said most businesses would be applying for a domestic llc you can file the certificate of formation online or by mailing it to the secretary of state expect the llc certification process to take approximately two weeks this is three to four days for the judge of probate and ten days for the secretary of state step five prepare an operating agreement now an operating agreement is a good idea to have in place with the other members if your llc has more than one member although a limited liability company operating agreement is not necessary for delaware your operating agreement should clarify how your company or business will handle big picture issues such as allocating earnings and losses and dissolving the company your operating agreement should also cover the transfer of membership interest profits or losses and distributions initial investments decision making powers voting rights and management and lastly dissolving the business step six obtain an ein an ein or employer identification number is a federal tax id issued by the irs your ein is used by them to readily identify your firm and tax fi
Thanks spreminjaA your participation is very much appreciated
- Cedric Borra
About the author
I've studied participatory economics at Elon University in Elon and I am an expert in engineering physics. I usually feel hungry. My previous job was door to door salesmen I held this position for 5 years, I love talking about flower growing and crafting. Huge fan of Pete Postlethwaite I practice equestrian and collect scouting memorabilia.