Dear
Valued Client:
It's
Franchise Tax Season again!
Please
be advised that, this year there have been important amendments to
Delaware law which affect the franchise tax for corporations. These
changes are retroactive to 1/1/2010.
CORPORATIONS
The
2010 Delaware Corporate Franchise Tax and Annual Report are due by
MARCH 1, 2011.
Recent
legislative changes in Delaware General Corporation Law affect the
annual minimum tax for corporations. The minimum tax for
corporations using the Authorized Shares Method remains $75, while
the minimum tax for corporations using the Assumed Par Value
Capital Method increases to $350.
If
you have a corporation please remember that Delaware now
requires that your Annual Franchise Tax Report be filed
electronically!
Failure
to file a fully completed report, including the
names and addresses of officers and directors, and remit
the proper payment on or before MARCH 1, 2011 will
result in penalty and/or interest charges being assessed by the
State of Delaware. Additionally, it will prevent the company from
obtaining a certificate of good standing and will ultimately result
in the State revoking your charter.
LP/LLC/GP
The
2010 Delaware LP/LLC/GP Franchise Tax is due by JUNE 1,
2011.
The
alternative entity tax of $250 is unchanged. Any entity which
fails to submit the total tax amount due by the June 1, 2011 filing
deadline will be assessed a late penalty and/or interest charges by
the State of Delaware.
Limited Partnerships, Limited Liability Companies and General
Partnerships are not required to file an annual report but are
still responsible to pay the franchise tax.
ATTENTION:
Unless a certificate of cancellation, dissolution or merger has
been filed with the State by the end of the calendar year 2010,
every Corporation or LLC is required to
file the Annual Franchise Tax Report and/or pay the Franchise
Tax.
Paper
copies of the Delaware Annual Corporation Franchise Tax Reports
WILL NOT be mailed. You will receive a
notification via email with instructions about paying your
franchise tax. This year, you may also receive the same franchise
tax details and instructions in a letter via regular mail. If your
contact information has changed please let us know at contact@delawareintercorp.com. You
will be notified by email if a follow-up written confirmation is
required.
You
will receive an additional notification from us alerting you as to
when it is time to file your annual report and/or pay your
franchise tax.
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