Notice: All new and existing entities will need to file a Beneficial Ownership Information Report with FinCEN. Click here to learn more.

What Does a Delaware Registered Agent Do, Exactly?

By Matthew Dochnal December 1, 2023
office building with multiple stories

Understanding the role of a Delaware Registered Agent is an important part of incorporating a business. Did you know that Delaware law requires every company registered in Delaware to have a Registered Agent? So, if you want to form a Delaware LLC or a Delaware corporation, you will need to know how to meet this […]

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Does My Delaware Company Need a Certificate of Incumbency?

By Matthew Dochnal November 9, 2023

If you have applied for a loan with your corporation as the borrower, you may have heard the term “Delaware Certificate of Incumbency”. What is a Delaware Certificate of Incumbency and when do you need one?   Navigating corporate documentation is crucial for business operations, especially when engaging in financial transactions or significant changes in […]

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Does My Company Need a Corporate Secretary?

By Matthew Dochnal November 7, 2023
a team of business professionals

A Corporate Secretary can be a valuable asset to a corporation as it grows. But what does a Corporate Secretary do, exactly? Are companies required to have one? We dive into the details of what a Corporate Secretary is and why they are important. What Is a Corporate Secretary? A Corporate Secretary is one of […]

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Can I Start More Than One LLC?

By Matthew Dochnal November 2, 2023
company organizational chart

Have you ever wondered if it’s a good idea to start more than one LLC? Well, you’re not alone. Many business owners consider setting up multiple limited liability companies, and there are plenty of reasons why. It’s like having different baskets for your eggs – it can keep them safe. But forming LLCs is not […]

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Does an LLC Need a President?

By Matthew Dochnal October 16, 2023

Limited liability companies, or LLCs are the most popular business entity type for entrepreneurs. Small business owners prefer LLCs due to their flexibility and simplicity. Unlike corporations, the structure of LLCs does not come with strict requirements. LLC owners are free to run their company the way that they see best. This flexibility however often […]

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What Startups Need to Know About the Corporate Transparency Act

By Matthew Dochnal October 3, 2023

In 2024, over 30 million businesses will need to meet new compliance requirements. The Corporate Transparency Act (CTA) takes effect on January 1st and mandates U.S. companies to file Beneficial Ownership Information (BOI) reports with FinCEN. All types of businesses will be impacted by the CTA. However, startups may find BOI reporting requirements especially challenging. […]

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What is FinCEN and What are BOI Reports?

By Matthew Dochnal September 29, 2023

If you run a small business, you’ve probably never heard of the Financial Crimes Enforcement Network, or “FinCEN”. However, starting in 2024, over 30 million businesses in the U.S. will need to get familiar with this government agency. With the Corporate Transparency Act going into effect, businesses of all sizes are preparing for new federal […]

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How to Comply With The Corporate Transparency Act: Tips for Small Businesses

By Matthew Dochnal September 27, 2023

Business entities operating in the United States need to prepare for new compliance requirements taking effect on January 1, 2024. The Corporate Transparency Act (CTA) requires LLCs and corporations to submit BOI reports to FinCEN. These reports contain basic information about a company’s significant owners and important decision makers. Whether your business is a solo […]

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How Does the Corporate Transparency Act Impact Small Businesses?

By Matthew Dochnal August 24, 2023

  In a time where financial transparency is essential, the Corporate Transparency Act (CTA) brings new compliance requirements for U.S businesses. Understanding these new requirements is crucial for business owners, managers, and stakeholders to avoid significant penalties, including fines and jail time. Starting January 1st, 2024, U.S. businesses will need to disclose information about their […]

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What Is a Beneficial Ownership Information Report? New Rules for Business Owners

By Matthew Dochnal August 23, 2023

Starting January 1st, 2024, owners of U.S. businesses will need to comply with new rules. The Corporate Transparency Act (CTA) is a federal law that requires business entities, like LLCs and corporations, to report information about their owners to the Financial Crimes Enforcement Network (FinCEN). These new reports are called “Beneficial Ownership Information Reports”. Honest […]

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What Is a Delaware Public Benefit Corporation?

By Matthew Dochnal August 11, 2023

Many business owners strive to balance running a profitable business with doing good for the planet. As businesses grow, enforcing standards and achieving sustainability goals becomes more challenging. One successful strategy that businesses use to pursue both profits and purpose is to incorporate as a Delaware Public Benefit Corporation, or a “PBC”.   But what […]

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Can a Delaware LLC Do Business in Texas? Texas Foreign Qualification, Explained

By Matthew Dochnal August 3, 2023

If you own a Delaware Limited Liability Company (LLC) and want to start doing business in Texas, you might have questions. Can a Delaware LLC do business in Texas? Absolutely, but there are some steps you need to follow first. This process is called foreign qualification. Foreign qualification may seem challenging, but in this comprehensive […]

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Should I Set Up an LLC Holding Company?

By Matthew Dochnal August 2, 2023

As a business owner or entrepreneur, you may have seen the term “holding company” before. Holding companies are a type of legal structure used by businesses across many different industries. If done right, a holding company can provide unique legal protections that cannot be achieved with just one business entity. Many well-known corporations use holding […]

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My Delaware Company Is ‘Void’: What Do I Do?

By Matthew Dochnal July 12, 2023

If you have a Delaware LLC or Delaware corporation, there are some annual requirements that you need to know about. If you haven’t kept up with these requirements, your company may have gone “void” or “inactive.”  But what does it mean if your Delaware company goes void and what should you do?     Letting […]

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I Formed a Delaware LLC. Now What?

By Matthew Dochnal July 11, 2023

Forming a Delaware LLC through an incorporation service, like IncNow, can be so simple that it leaves people with questions. Many LLC owners ask: What else do I need to do? What are the next steps? What annual fees do I pay? Delaware LLCs are easy to set-up and manage. However, there are some things […]

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Does My Delaware Corporation Need a Stockholder Agreement?

By Matthew Dochnal June 27, 2023
shareholder agreement

Incorporating your business as a Delaware corporation comes with lots of benefits. However, running a corporation the right way can require a lot of paperwork. There are many different types of corporate documents: from by-laws to Annual Reports. One of the most important documents that a Delaware corporation needs is a Stockholder Agreement. A Delaware […]

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9 Mistakes Delaware LLC Owners Make

By Matthew Dochnal
Confused business woman asking questions.

  Delaware LLCs are popular with small business owners because they are easy to set up, understand and manage. However, there are some common Delaware LLC mistakes owners make. The results of these mistakes can range from just an inconvenience to something that hurts the business. Forming a Delaware LLC is a smart move for […]

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Can a Delaware LLC Do Business in New York?

By Matthew Dochnal June 1, 2023
new york city

If you’re planning to operate your Delaware LLC in New York, you may wonder about the necessary steps. Is your Delaware LLC allowed to do business in New York? The answer is yes, but first, you need to complete a foreign qualification. While it might sound complicated, we’re going to break down how to qualify […]

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Can a Delaware LLC Do Business in Other States? A Guide to Foreign Qualification

By Matthew Dochnal May 23, 2023
united states map with pins

A Delaware LLC can do business in any U.S. state, as long as it completes a foreign qualification. Business owners and entrepreneurs use Delaware limited liability companies to do business all over the world. Whether you’re in California or India, operating a Delaware LLC is easy. However, if you’re doing business outside Delaware with your […]

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How to Structure an LLC: Member-Managed vs. Manager-Managed

By Matthew Dochnal May 18, 2023
small business owner packing boxes

When it comes to setting up a business, there are different company types to choose from. One of the most popular is the Limited Liability Company (LLC). An LLC is like a blend of a partnership and a corporation. It offers the owners, known as members, protection from personal liability, similar to a corporation, while […]

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How to Pick a Delaware Registered Agent

By Matthew Dochnal May 9, 2023
customer service representative with a laptop

Anyone starting a Limited Liability Company (LLC) or a corporation in Delaware is required to have a Delaware registered agent. A Delaware registered agent helps your business stay on the right side of the law by making sure you get important legal documents and tax notices. With so many registered agent services out there, it […]

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Why Real Estate Investors Should Form a Delaware LLC.

By Matthew Dochnal May 4, 2023
real estate investing

Forming a Delaware Limited Liability Company(LLC) is a wise choice for real estate investors seeking asset protection and business growth. Real estate investing remains an attractive method for generating income, building wealth, and diversifying portfolios. As with any business venture, it’s essential for investors to carefully evaluate their businesses’ structures to maximize personal asset protection. […]

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Why Online Businesses Should Form Delaware LLCs

By Matthew Dochnal April 28, 2023
ecommerce business

The world of e-commerce and online businesses has grown exponentially in recent years, with digital nomads and internet entrepreneurs seizing opportunities to make a living online. One crucial decision these entrepreneurs face is selecting the right business structure. A Delaware Limited Liability Company (LLC) offers numerous benefits for online businesses. This article explores the benefits […]

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LLC Members and Managers: Who Owns an LLC?

By Matthew Dochnal April 25, 2023
two small business owners opening a cafe

Who owns and manages an LLC? If you’re thinking about setting up a Limited Liability Company (LLC), it’s helpful to understand the roles of LLC owners and how they’re involved in managing the business. LLCs offer the flexibility to create unique management structures, pick officer titles, distribute management responsibilities, and outline ownership interest. In this […]

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23 Reasons to Form an LLC in 2023

By Matthew Dochnal April 19, 2023
business owner opening a store front

Every year, there are new opportunities to grow your business. For many small business owners, now is the perfect time to consider forming a Limited Liability Company (LLC). The LLC has quickly become the most popular business structure for small business owners. According to the Delaware Division of Corporations, over 1.29 million LLCs are registered […]

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How To Manage LLC Capital Contributions and Distributions

By Matthew Dochnal April 11, 2023
making a capital contribution

  Once you get your business operations off the ground, you will need to consider some of the financial aspects of operating an LLC. This includes managing capital contributions and distributions in your newly formed company.  As a small business owner or aspiring entrepreneur, it’s essential to understand these processes to ensure your LLC’s success. […]

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What Is an EIN Number and Does My Business Need One?

By Matthew Dochnal March 14, 2023
clipboard with "EIN" typed out on a piece of paper.

When starting a new business, registering an LLC or corporation is just the first step. To truly get up and running, there are several more steps to take, such as getting an EIN number for your business. While the process of obtaining an EIN number from the IRS is not complicated, business owners often have […]

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Why Freelancers Should Form a Delaware LLC

By Matthew Dochnal February 16, 2023
freelancer working at a desk

In recent years, a growing number of people have turned to freelancing as a way to earn a living. Starting a freelancing business can be a great opportunity with many benefits, including flexibility and independence. One important decision that freelancers have to make is how to structure their business. More specifically, whether they should operate […]

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How to Wind Up and Close a Delaware LLC

By Matthew Dochnal February 7, 2023
"Going out of business" sign in store window

Most entrepreneurs are optimistic when starting a new business venture. However, many understand that commerce is inherently risky. According to the U.S. Bureau of Labor Statistics, 20% of new businesses fail within two years, and only 50% make it to their fifth year. It’s ok if you decide to close your business. However, you need […]

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What Is an LLC and How Can It Protect My Business?

By Matthew Dochnal January 12, 2023
llc formation document

The Limited Liability Company, or “LLC”, is the most popular business entity type in the United States. LLCs are simple and flexible business structures that combine the tax treatment of a sole proprietorship with the personal liability protection of a corporation.  Despite LLCs being so common, you might not know exactly what an LLC is. […]

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Why Startups Should Choose the Delaware C-Corp.

By Matthew Dochnal January 9, 2023
An investor putting money into a rocketship

What do companies like Uber, AirBnB and DoorDash all have in common? Each secured millions of dollars from venture capital firms and investors as startups. They are also all  incorporated as Delaware C-Corporations.  Delaware C-Corps are the most popular entity choice for startup companies looking to attract investors. Angel investors and venture capital firms prefer […]

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Can a Green Card Holder Set Up a Delaware LLC?

By Matthew Dochnal December 19, 2022
United States green card

Permanent residents of the United States are able to start businesses and form LLCs in Delaware. This includes US green card holders. In fact, individuals from almost any country in the world (except restricted countries) can form a Delaware LLC. If you are a permanent resident looking for your piece of the American Dream, forming […]

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How Do I Add a Member to a Delaware LLC?

By Matthew Dochnal December 15, 2022
business partners shaking hands

Owners of a Delaware LLC can add or change members at any time simply by amending the LLC Operating Agreement. Delaware does not require owners to make any additional public filings to add members to their LLC. However, existing members should take certain steps to avoid conflict when transferring membership. We cover exactly how to […]

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What Is a Corporate Secretary and Does My Company Need One?

By Matthew Dochnal December 9, 2022
a team of business professionals

  A Corporate Secretary can be a valuable asset to a corporation as it grows. But what does a Corporate Secretary do, exactly? Are companies required to have one? We dive into the details of what a Corporate Secretary is and why they are important. What Is a Corporate Secretary? A Corporate Secretary is one […]

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What Are Special Purpose Vehicles?

By Matthew Dochnal November 17, 2022
corporate asset protection

If you are looking to incorporate a business, you likely have sifted through tons of legal jargon. Corporations, LLCs, partnerships, sole proprietors, the list goes on. Here’s another one: Special Purpose Vehicles. People typically associate Special Purpose Vehicles, or “SPVs”, with major corporations; however, they can be useful for businesses of all sizes. Companies can […]

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Do I Need a Lawyer to Set Up a Delaware LLC?

By Matthew Dochnal
lawyer sitting with a client

If you are a business owner looking to form an LLC, you’ve likely researched some of the legal requirements. Setting up a Delaware LLC on your own can be complicated, and stressing over the details of your legal structure can take focus away from your business plan. You may be asking yourself whether you need […]

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How To Maximize Tax Savings for Single-Member LLCs

By Matthew Dochnal November 8, 2022

According to data from the Bureau of Labor Statistics, about 20% of small businesses don’t make it past their first year. A contributing factor to this statistic is the fact that many business owners do not take advantage of easy tax deductions. If you set up your business as a single-member LLC, there’s a significant […]

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What Is A Delaware Public Benefit Corporation?

By Matthew Dochnal October 24, 2022
B Corp

Do you want to make money while also making a difference in the world? The Delaware Public Benefit Corporation (“PBC”) allows companies to do just that. A Public Benefit Corporation is a for-profit business with a stated “public benefit” purpose set out in its incorporation documents. Delaware PBCs benefit both stakeholders and shareholders, and many […]

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Does My Delaware LLC Have To Pay Franchise Tax?

By IncNow
franchise tax

If you’ve formed an LLC but haven’t done business this year, you may be wondering if you need to pay the Delaware franchise tax. Here’s what you need to know. What Happens If I Don’t Pay the Delaware Franchise Tax? If a company fails to pay franchise tax, it will eventually lose its good standing […]

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What Is a Subsidiary Company?

By Matthew Dochnal October 11, 2022
Google headquarters with statue in front

The term “subsidiary” is used often in business, however, you might not know exactly what it means. Subsidiaries are an important part of the legal structure of nearly every large company. In this article, we discuss what subsidiary companies are, how they are used, and the best way to structure them.      What Is […]

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What Is a Loan Out Company?

By IncNow October 10, 2022
actor pointing out at sea

An increasing number of people are finding themselves either self-employed or engaging in short-term employment arrangements. These individuals are typically actors, content creators, gig economy workers or consultants. These employment arrangements can come with many benefits, however, they may also pose a tricky tax situation.  An effective strategy for self employed individuals to reduce their […]

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What You Need to Know About Beneficial Ownership Reporting

By Matthew Dochnal October 3, 2022

The Financial Crimes Enforcement Network (FinCEN) has issued a final rule for creating a beneficial ownership registry pursuant to the Corporate Transparency Act (CTA). The law requires corporations, limited liability companies (LLCs), and other entity types to disclose information about individuals connected to these companies. In particular, the ultimate beneficial owners, who are the human […]

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Non-Stock and Non-Profit Corporations: What’s the Difference?

By Matthew Dochnal September 28, 2022
Man leaning on a question mark.

The terms “non-stock” corporation and “non-profit” have become almost interchangeable, however, this is not correct. “Non-stock corporation” refers to a type of legal entity filed with the Secretary of State. A “non-profit” organization refers to a non-stock corporation that has obtained a tax determination letter from the IRS. Here we sort through these two loaded […]

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What Is An LLC Membership Certificate?

By Matthew Dochnal September 20, 2022
llc membership certificate

The Delaware Limited Liability Company (LLC) is the preferred legal entity for entrepreneurs and small business owners. Compared to a corporation, an LLC offers much more flexibility and minimal red tape.  The company’s Operating Agreement sets forth an LLC’s ownership. This internal document governs the affairs of the company and is not filed in the […]

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Twitter v. Musk Trial Shines Spotlight on Delaware Business Court

By Matthew Dochnal September 12, 2022

On October 17th, 2022, a hive of high-profile corporate attorneys will swarm Wilmington, Delaware to appear in front of the Court of Chancery. The state’s business court was tasked with resolving a dispute between Tesla CEO Elon Musk and Twitter, Inc. The lawsuit stems from Musk’s attempt to back-out of a deal he brokered in […]

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How to Become an LLC: 5 Easy Steps

By IncNow August 31, 2022
5 steps

If you have your own business, you may benefit by forming an LLC. An LLC keeps an owner’s personal assets separate from any business assets. LLCs can protect owners from liability in the event of a legal dispute with a creditor, or even a business partner. This is true even if your business does not […]

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What Is an ITIN Number and Do I Need One?

By Matthew Dochnal August 30, 2022
individual tax identification number

The United States Internal Revenue Service (IRS) utilizes several different types of identification numbers. You are probably most familiar with Social Security Numbers, which are issued to all US Citizens. You may be less familiar with Employer Identification Numbers and Individual Tax Identification Numbers. The IRS uses these different numbers to distinguish between individual US […]

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What is a DUNS Number and Do I Need One?

By Matthew Dochnal
business credit report

If you have ever tried to rent an apartment or lease a vehicle, you are probably familiar with the personal credit system. Your Social Security Number is attached to credit reports generated by major credit bureaus. Potential lenders then use your credit score to assess your ability to borrow money. Much like how a Social […]

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What are the Record-Keeping Requirements for a Series LLC?

By Matthew Dochnal August 5, 2022

A Series LLC  allows you to take one LLC and break it down into its component parts. One parent LLC has the ability to form an unlimited number of separate, protected series. Each of these protected series is a legal person able to hold assets. The statute shields the assets of each protected series from […]

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Do I Get a Business License or Delaware LLC First?

By IncNow July 22, 2022

Is the first step applying for a business license or forming a Delaware LLC? Unlike the chicken or the egg, this question has a definitive answer – the LLC formation comes before the business license. In order to begin doing business under a business license, you must first have formed the applicant. The LLC should […]

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What Is a Delaware Certificate of Incumbency?

By IncNow

If you have applied for a loan with your corporation as the borrower, you may have heard the term “Delaware Certificate of Incumbency”. What is a Delaware Certificate of Incumbency and when do you need one? What Is a Delaware Certificate of Incumbency? A Delaware Certificate of Incumbency is a document signed by an officer […]

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General Partnership vs. Limited Partnership: What’s the Difference?

By IncNow

“The only ship that doesn’t float is a partnership”. This is common when consulting entrepreneurs who are considering bringing on a business partner. While a general partnership is the oldest business organization, it is the worst choice possible. This is because general partnerships are laden with traps that could easily end in financial ruin for […]

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Do I Need to Change My Delaware Business Name with the IRS?

By IncNow July 11, 2022

Changed your Delaware business name? Updating your branding may require a business entity name change with the Delaware Secretary of State. Notifying the IRS of your corporate or LLC name change is an important second step. In most instances, a name change will not require a new EIN but a simple letter to provide notice […]

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Should I use a Series LLC, Multiple LLCs, or an Umbrella LLC?

By IncNow

Serial entrepreneurs often explore multiple opportunities simultaneously. To start a new line of business, you may not need a whole new LLC. You can use your current LLC and put various lines of business under one entity. This practice is often referred to as forming an Umbrella LLC structure. Using an Umbrella LLC for multiple […]

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What Is a Certified B Corporation?

By Matthew Dochnal

You may have seen the “Circle B” logo, but what does it mean? The logo can only be displayed by a Certified B Corporation. These are companies that have achieved a minimum score on an evaluation of their corporate governance, community, employee, and environmental benefits. Here’s what you need to know about this entity. What […]

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Do I Need a Delaware Business License for My Delaware LLC?

By IncNow

Starting a new business comes with navigating new waters and that includes what licensing is required. Business licenses are often issued at the local government level and are required for you to conduct business. This license allows the governing agency to verify that you are following the rules set in place to protect the public […]

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What is an Umbrella LLC?

By IncNow May 23, 2022
umbrella

A serial entrepreneur will often form multiple “brother-sister” companies to keep their assets from becoming commingled. But having partners that own an interest in each of these companies can generate separate partnership tax returns for each entity. One way to simplify this is to form a holding company with the partners. You can reduce the […]

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Can I Form a Non-Profit LLC, 501c3?

By IncNow
B Corp

Philanthropists often ask if an LLC can be a non-profit. What they are referring to is the 501c3 tax-exemption status. 501c3 status is a coveted designation because it exempts a company from federal, sales, and property taxes. These exemptions are crucial to the function of non-profit organizations.  IRS regulations do not allow LLCs to be […]

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What is the Best State to Incorporate in?

By IncNow April 26, 2022
why delaware

It can be intimidating to choose a state to incorporate in. You don’t need to incorporate in the state where your business physically resides. Instead, you can form your company anywhere. Which is the best state to incorporate in? Here are some things to consider. Things to Consider When Choosing a State to Incorporate What […]

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The Difference Between the Delaware LLC and Corporation

By IncNow
LLC vs Inc

The Delaware Limited Liability Company Compares Favorably to the Delaware Corporation When starting a business, you probably have a lot of questions, including “Is an LLC a corporation?” and “Where should I incorporate?”. You do not have to incorporate in your home state if the laws there are unfavorable to protecting you. Instead, you can […]

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Does My Delaware LLC Have To Pay Franchise Tax?

By IncNow
franchise tax

If you’ve formed an LLC but haven’t done business this year, you may be wondering if you need to pay the Delaware franchise tax. Here’s what you need to know. What Is the Delaware Franchise Tax, Again? Franchise “Tax” is often misinterpreted to mean that the fee will be calculated based on profits or capitalization, […]

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What Does LLC, Inc, Co, Corp, and Ltd Mean?

By IncNow
types of entities

You may be asking “What does LLC stand for,” “Which entity should I choose,” “What is Inc.,” “What does Co. mean,” “What is LLC,” or “Ltd vs. LLC?” Before you incorporate, you need to choose which type of entity is right for you. This isn’t something you’re born knowing, and they don’t teach it in […]

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How to Verify Business Ownership for Your LLC

By IncNow April 8, 2022
LLC ownership

At some point, you may be asked to show proof of ownership, also known as proof of entity, for your LLC. The request often happens when you open a business bank account. If you’ve never needed to prove that you own your LLC, it’s understandable that you might be unsure of what to do next. […]

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What Is a Subsidiary Company, Exactly?

By IncNow
Google headquarters with statue in front

People throw around the term ‘subsidiary’ in business. Google, for example, recently made headlines when it was announced that its parent company, Alphabet Inc., is breaking into subsidiaries. It’s understandable that you might not be exactly clear on what it means. Subsidiaries are important but often fail to get the attention they deserve. Business and […]

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What is a Delaware Certificate of Good Standing?

By IncNow March 14, 2022
good standing

You may be asked for a certificate of good standing at some point in your company’s existence. It’s a good idea to know in advance what exactly this is. A Delaware Certificate of Good Standing is a one-page document. The Secretary of State issues it to prove a company’s ability to do business. The Secretary […]

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Why Should I Incorporate in Delaware?

By IncNow February 16, 2022
why delaware

Incorporating in Delaware has many advantages and benefits over incorporating a business in your home state. Before explaining the advantages of incorporating in Delaware, it is important to know you are eligible to run your business as a Delaware corporation or a Delaware LLC no matter where you live. Do I Need to Live in […]

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Who Are The Members And Managers Of An LLC?

By Matthew Dochnal
member and manager

Before forming an LLC, it is important to understand how it will be structured and managed. LLCs offer business owners complete flexibility to create unique management structures. This includes choosing officer titles, delegating management responsibilities, and structuring ownership interest.  Here we breakdown common management and ownership structures for LLCs, including who the LLC Members and […]

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Why the Delaware C Corp Is a Good Option for Startups

By IncNow February 9, 2022
C Corp

Delaware C corps are a popular choice for some companies due to their ability to attract investors. Startups in particular can benefit from a C corp tax designation, but it’s understandable to have questions about how, exactly, this works. Here’s what you need to know. How the Delaware C Corp Can Help Startups While every […]

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What Is Shareholder Primacy, and Why Does It Matter Right Now?

By IncNow January 5, 2022
shareholder primacy

We’ve been living through a global pandemic for nearly two years, and some companies are still trying to balance how to benefit the public while attending to corporate obligations. In this COVID-19 crisis, is it within the discretion of the board of directors to change manufacturing lines to produce masks and other personal protection equipment […]

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What, Exactly, Does It Mean to Incorporate?

By IncNow
Delaware corporation

The concept can be confusing at times, but there is a difference between forming a business and incorporating. Interested in incorporating your business, but not sure exactly what it entails? Here’s the definition of incorporating, plus what it means to incorporate. How Do You Define Incorporate? In the U.S., incorporating a business is something that […]

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Do You Need an Incorporation Lawyer?

By IncNow November 2, 2021
incorporation lawyer

An incorporation lawyer specifically focuses on the laws surrounding the business of forming and maintaining corporations and LLCs. An incorporation lawyer can help ensure that your company is properly formed and in good legal shape. But not everyone needs to hire a lawyer to help form their company.

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Why Form a Public Benefit LLC?

By IncNow September 24, 2021
public benefit LLC

You may have heard of a Public Benefit Corporation, which is a for-profit corporation with a stated public benefit purpose in its Certificate of Incorporation. This allows corporate directors to balance stockholder profit with specific community benefits. Ordinarily, a traditional corporation cannot divert resources for public benefit unless doing so maximizes shareholder value. The Public […]

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What Is an LLC and What Is Its Purpose?

By IncNow September 13, 2021
filing cabinet

Many companies are LLCs. While the abbreviation can be spotted at the end of many company names, it’s understandable that you might not be entirely clear on what, exactly, an LLC is and its purpose. Each state has its own unique statutory law that sets forth requirements to form a Limited Liability Company (hereinafter “LLC” […]

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INCNOW NAMED 2021 “BEST FOR THE WORLD” IN GOVERNANCE

By IncNow August 5, 2021
bfw2021

IncNow is proud to have been given the 2021 ‘Best for the World’™ award in governance from B Lab, a company that certifies businesses that have achieved the highest standards of environmental and social responsibility. The honor recognizes IncNow’s commitment to ethical business practices, accountability, transparency and overall mission.  The Best for the World list […]

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4 Benefits of Becoming a Sustainable Business

By IncNow July 14, 2021

In today’s corporate climate, sustainability has advanced past the point of simply being a trend. Most successful companies have adopted aspects of sustainability whether it be in their corporate governance structures, operations management procedures, or both. Data supporting the long-term business benefits associated with sustainable business practices has bolstered the growing popularity of sustainability amongst […]

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How does a Delaware Series LLC File Beneficial Ownership Information Under the Corporate Transparency Act?

By IncNow June 25, 2021
Corporate Transparency Act

In April 2021, the Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). IncNow® provided four responses. The first response advocates why the protected series […]

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Delaware’s Secretary of State Shines During the Pandemic

By IncNow June 24, 2021
good standing

The Delaware Secretary of State runs the Division of Corporations with more than 1,000,000 active business entities registered in Delaware, including 66% of Fortune 500 companies.  Entrepreneurs know Delaware for having an efficient and business-friendly state government which promotes the seamless formation and maintenance of corporations and LLCs. This is due to the leadership of […]

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How to File a Delaware Annual Report

By IncNow May 28, 2021
franchise tax payment

Filing the Delaware annual report online only takes five minutes. Avoid the $125 penalty, plus interest and keep your corporation in good standing by filing your Delaware annual report on-time. What Is the Delaware Annual Report? The Delaware Annual Report is a set of business information that must be submitted to the Division of Corporations […]

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What is a Delaware Registered Agent?

By IncNow May 7, 2021
registered agent

United States business formation law is state specific. Within the footprint of the state, companies formed in that state need to maintain an “agent” at all times. This agent has to have a fixed office address on record with the company’s file. That makes this office the “registered office” and the business or individual servicing […]

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How to Handle LLC Capital Contributions and Distributions

By IncNow
LLC capital contributions

Members of an LLC are subject to capital contributions and profit distributions based on terms they agree to in the Operating Agreement. Below we talk through several key issues for you to consider as you receive and distribute capital for your LLC. What is a capital contribution? A capital contribution is the cash or property […]

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Should I Set Up an LLC Holding Company?

By IncNow
holding company

How you can protect your businesses from the liabilities of your other businesses Does a D.B.A. offer you any legal protection? Are there alternatives to setting up a separate LLC for each business or property? If you have multiple LLCs, it’s only natural to wonder if you should set up an LLC holding company. In order to determine […]

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IncNow’s Interns Train Together for Half-Ironman Competition During Pandemic

By IncNow February 25, 2021
Matt on a bike

We have all braced the varying impacts that COVID-19 has had on our lives. Collegiate athletes are no exception, persevering through a unique struggle of their own. IncNow has offered internships to two student-athletes during the pandemic. In addition to learning about incorporation, these athletes are now training for a Half-Ironman competition. This training has […]

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Do LLCs Have Stock or Shareholders?

By IncNow

We often get questions about LLC stockholders, bylaws, stock certificates, directors, minutes and sometimes a Limited Liability “Corporation.” It’s understandable to have questions about how LLCs are structured and operate. Here’s what you need to know. Do LLCs have stock? Typically, “stock” is not the term used for LLC ownership shares. In most LLCs, the […]

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11 Common Mistakes People Make After Forming a Delaware LLC

By IncNow February 2, 2021
top mistakes

Forming a Delaware LLC is an exciting time for your company, but it’s important to operate your company the right way afterward. Unfortunately, mistakes are sometimes made. These are some of the biggest issues we see—and how to remedy them. Mistake No. 1: The Operating Agreement is returned to the formation agent. Some business owners […]

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Does My LLC Need an EIN?

By IncNow December 21, 2020

Why your business should have an EIN, even if it’s an LLC. Is the information you submit to the IRS about your business accessible to the public? Confused by some of the questions on the SS-4 form? We provide you guidance. If you have an LLC, you might wonder whether you need an EIN. An EIN, […]

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What’s the Cheapest Way to Form an LLC?

By IncNow December 18, 2020

It’s understandable that you want to find the best price when it comes to forming your LLC. But what does a cheap LLC setup look like, and how much should it cost to form an LLC? Here’s what you need to know. What Fees Are Required with an LLC? Every LLC registered in the State […]

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South Dakota Enacts Series LLC Legislation: What You Need to Know

By IncNow October 14, 2020
Mount Rushmore

Among a number of recent states to enact Series LLC legislation, South Dakota’s new Series LLC law becomes effective soon. The approach of South Dakota counters the larger Series LLC trend. Most states follow either the business-friendly Delaware model or the prescriptive Uniform Protected Series Act (“UPSA”). Here’s what you need to know. When Will […]

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Your Principal Place of Business is Not Your Delaware Registered Agent Office

By IncNow August 31, 2020
mail hand

When you incorporate in Delaware, where is your principal place of business? When should you list your registered agent’s address as your office address? Since most businesses filed in Delaware operate outside the state, this is a common question. The short answer is never. The only need for a Delaware address (a registered agent’s office) […]

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Can an LLC Be a Non-Profit?

By IncNow August 26, 2020
rower

Traditionally, non-profit companies are corporations. However, there is a way to get the protection of an LLC while retaining the structure of a non-profit corporation. When expanding the operations of their non-profits, existing non-profit corporations may consider adding higher risk assets to subsidiary LLCs. These LLCs exist under the umbrella of the already qualified 501(c)(3) […]

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What Is a Loan Out Company, Exactly?

By IncNow August 17, 2020
actor pointing out at sea

An increasing number of people are finding themselves either self-employed or engaging in short-term employment arrangements. These individuals are typically actors, content creators, gig economy workers or consultants. These employment arrangements can come with many benefits, however, they may also pose a tricky tax situation.  An effective strategy for self employed individuals to reduce their […]

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How to Become an LLC: 5 Steps

By IncNow August 11, 2020
5 steps

Becoming an LLC is an easy and inexpensive way to protect yourself from personal liability for business obligations. It’s definitely worth considering if you have your own business—even if that business is you.

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What Does the President of a Corporation Do?

By IncNow
question man

Whether you’re interested in forming a corporation or are just curious, it’s understandable to wonder, “What does the President of a Corporation do?” Traditionally the President of a Corporation is the highest executive officer. The Bylaws of the Corporation set forth the role of the President. Some businesses have also established higher offices, such as […]

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How Much Does It Cost To Incorporate a Small Business?

By IncNow August 5, 2020
piggy bank

We often hear these questions from small business owners: What is the cheapest option for incorporating my company? How much does it cost to incorporate? Should I form an LLC? What incorporation fees can I expect? Across all fifty states, Delaware is near the median for incorporation costs. Among the top-tier states such as Florida […]

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A Delaware Series LLC Can Help Protect Your Businesses

By IncNow July 29, 2020
Subsidiary

The Delaware Series LLC is a business entity which enables members to place a web of liability shields over individualized assets within a single LLC. As the name suggests, a Series LLC entails a singular organization empowered to self segregate its assets. This creates many rings of protection. As the Delaware Series LLC has risen […]

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What Are the Benefits of a Delaware LLC?

By IncNow
good standing

When it comes to incorporation and LLC formation, there is Delaware and then there is the rest of the world. By dedicating itself to the needs of businesses, the state of Delaware has distinguished itself as the leader in desirable corporate and LLC legislation. Combining reasonable filing and maintenance fees, responsive administrators and an exemplary […]

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You Don’t Need a Lawyer to Incorporate Your Business

By IncNow July 27, 2020
lawyer

When deciding whether to form a Delaware LLC, you may wish you had gone to law school so that you could understand everything you are reading. But attending law school would not help you. Law schools do not teach law students the mechanics of incorporating. Most law schools dedicate no more than one lecture to […]

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What Does Apostille Mean?

By IncNow July 14, 2020

Apostilled documents have a physically-applied gold seal. Most likely, you will need the original sent to you. We can email it followed by Global Priority Mail or send it to you by International FedEx. What Does Apostille Mean, Exactly? An Apostilled Certified Copy from the Secretary of State is required by certain countries which accept […]

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Tax ID vs. EIN: What’s the Difference?

By IncNow June 15, 2020

Incorporating your company is an exciting process, but the work isn’t done after you form an LLC or Corporation. After that, there are several more steps to take, like getting a tax ID number for your business. The process of getting a tax ID isn’t complicated, but there is often some confusion about what, exactly, […]

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What Is a Juridical Entity?

By IncNow June 3, 2020
Delaware corporation

When you organize a company, the language may be English, but the jargon sounds “foreign” like you are playing a card from Dungeons and Dragons for an invincibility cloak. Wading through the lingo, one particular term you may encounter is “juridical entity.” While “juridical” simply means “legal”, knowing the characteristics of a juridical entity is […]

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How to Form a Quarantine Business

By IncNow May 21, 2020
startup guy

It’s no secret that COVID-19 is changing the lives of many people. On the job front, some people are facing unemployment or job insecurity, and workplaces are starting to discover that the standard office model may not be efficient or even needed anymore. The pandemic has also delivered a blow to the economy, causing some […]

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What Is a Quasi Entity?

By IncNow May 16, 2020
asset protection

If you have several related business ideas, filing a Series LLC can be an attractive option. But simply forming a Series LLC doesn’t entitle you to the internal asset-by-asset protection of a Series LLC. Instead, there are certain steps you need to take to make sure that you (1) have established protected series by the […]

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The Series LLC Can Protect Your Business from an ‘Infection’

By IncNow April 21, 2020
scooter

Just as an infected person with a virus can infect nearby healthy people, an asset with a liability in a company can be a bad apple that unnecessarily exposes all the good apples to a liability. In this case, the “virus” is not a germ, but rather a judgment creditor who tries to collect against […]

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Your Annual Delaware Corporate Stockholder Meeting is required and recommended

By IncNow April 1, 2020

Delaware corporations must hold stockholder meetings every year (even for family businesses and one-owner businesses). Failure to do so may call into question whether your corporation has been following necessary corporate governance formalities. Legalities aside, it is good to meet with stockholders and provide an update on the current activity and plans and listen to […]

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Does a Delaware LLC Have to Pay California Taxes?

By IncNow March 3, 2020
Delaware v California

Looking to form a California LLC? Learn more here. Why forming in Delaware instead of California is better for business. The only ship that doesn’t float is a partnership. Don’t put your personal assets at risk. What are Delaware LLC taxes? Will your Delaware LLC have to pay taxes to both California AND Delaware? What […]

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What You Need to Know About the Delaware B Corporation

By IncNow February 17, 2020
B Corp

Do you want to make money while promoting clean and green practices? Are you promoting employment of disadvantaged people? A Public Benefit Corporation (“PBC”) in Delaware, which some refer to as a B-corporation, is a new type of corporate structure. It is a for-profit business that has a stated “public interest” purpose set out in […]

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How to Name Your Delaware LLC

By IncNow January 13, 2020
business names

Prior to filing a corporation or LLC in the State of Delaware, you may want to check if the corporate name is available on the Delaware Secretary of State’s website. Below are a few guidelines on how to name your LLC or corporation. 1. When checking the name on the Division of Corporation’s website, the […]

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How Is an LLC Taxed?

By Matthew Dochnal September 18, 2019
taxes

The Delaware LLC is the most popular type of legal entity amongst small businesses. A Delaware LLC provides bullet proof liability protection for business owners’ personal assets while avoiding the red tape involved with maintaining a corporation. Entrepreneurs prefer LLCs because they are flexible, cost effective, and easy to set up. Forming an LLC is […]

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¿Puedo crear una empresa en los Estados Unidos?

By Will Purman September 11, 2019

¿Puedo crear una empresa en los Estados Unidos? En IncNow hemos visto un creciente interés por los beneficios que ofrece el Estado de Delaware a personas y entidades internacionales a la hora de establecerse en los Estados Unidos. Debajo damos respuesta a preguntas que frecuentemente recibimos de nuestros clientes y que presentamos en español para […]

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How to Save on Single Member LLC Taxes

By IncNow July 19, 2019
single member llc tax

Most businesses end up cutting into profits simply by not taking advantage of the rules the IRS has laid out for them. The most susceptible to this common downfall is the sole proprietor or single-member LLC. It’s possible to save on single member LLC taxes—you just need to know the right steps to take. What is […]

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What is a Single-Member LLC Operating Agreement?

By IncNow June 6, 2019
LLC Agreement

One person can form an LLC in Delaware. These LLCs are known as “single-member LLCs”. You can use a single-member LLC for everything from financing real estate transactions to solo consultant practices. Why Create a Single Member LLC Operating Agreement? Despite having only one member, it is still wise for single-member LLCs to have a […]

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What does it mean for a company to “go void”?

By IncNow February 8, 2019
full mailbox

If you have a Delaware LLC or corporation and have neglected to pay your agent or state fee, you may have been told by your registered agent that the company is in danger of “going void.” What does void mean? In the context of Delaware LLCs and corporations, it means that the registered agent “resigned” […]

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What Is a Delaware Dynasty Trust (And Do I Need One)?

By IncNow January 23, 2019

Families often want to save taxes and provide for future generations. With a Delaware irrevocable trust setup as a Dynasty Trust you can avoid the dissipation of assets by transfer taxes. This allows your family to accumulate substantial wealth free of transfer taxes. Plus if none of the beneficiaries are in Delaware, there is no […]

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Why Form an LLC in Delaware?

By IncNow October 19, 2018
good standing

To have access to the gold standard of business laws, you should form an LLC in Delaware. Delaware offers an abundance of protection for business owners who choose to form a Delaware LLC no matter where you live and work. The shield of Delaware protects business managers from litigation risks and compares favorably to businesses […]

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What Happens to My LLC Membership Interest When I Die? Buy Sell Tips

By IncNow October 12, 2018
Death and LLC interests

In both single-member and multi-member LLCs, the owners need to have a plan for what happens in the event that a member dies. Should the LLC continue or should it automatically trigger cancellation? Who has the right to buy the deceased member’s interests? Do family members obtain voting rights or just assignment of distributions? These […]

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Delaware LLC Member Buyout Options: Shotgun, Baseball, Drag-Along, Tag-Along, Rochambeau, Coin Flip

By IncNow October 5, 2018
baseball buyout

Keep your Delaware LLC from sinking prematurely as a result of member business divorce. Plan ahead for inevitable partnership disputes by drafting membership prenuptial provisions from the outset. In this article we teach you the vernacular of LLC member buyout options, such as “Baseball” versus “Shotgun”, “Tag-Along” versus “Drag-Along”, and “Rights of First Refusals” versus “Rights of First Offers”. These are ways […]

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How to Plan for Exiting an LLC

By IncNow September 25, 2018
llc member exit strategy

The issue of when interests in an LLC can be transferred or bought, and by whom, and with what restrictions, is an issue that must be covered in an Operating Agreement. It is natural for business owners to be optimistic and overlook the possibility that the company may fail to live up to their initial […]

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Why should someone incorporate in Delaware?

By IncNow August 10, 2018
why delaware

The excitement of a new business venture can sometimes make the prospect of litigation seem distant, or even impossible. It is that very optimism and conviction that drives entrepreneurs to launch out in the first place. But as the old saying goes, “Those who fail to plan, plan to fail.” Should push come to shove, […]

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Why the Series LLC Is the Ultimate Subsidiary Factory

By IncNow June 25, 2018
Subsidiary

In the summer of 1987, “make your own sub day” was so popular in the Camp Tockwogh mess hall, that we all sang “I feel like makin’ SUBS!” This was a subtle substitution of one word in the classic rock lyrics, Feel Like Makin’ Love by Bad Company. I still love making subs, but nowadays […]

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“Converting” a Corporation to a Delaware Public Benefit Corporation

By IncNow June 7, 2018
public benefit LLC

A conversion from a corporation to a Delaware Public Benefit Corporation has many advantages for existing Delaware corporate directors. A Delaware public benefit corporation is a for-profit corporation “that is intended to produce a public benefit or public benefits and to operate in a responsible and sustainable manner.” Del. Code Ann. tit. 8, § 362. […]

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Why This IncNow Incorporation Consultant Gets Up at 4:15 A.M.

By IncNow April 16, 2018

Austin Craig is currently an Incorporation Consultant at IncNow. After graduating from the University of Delaware with a B.S. in Marine Science, he was searching for employment while finishing a research project involving forage fish and algicide treatment at UD’s Lewes, Delaware campus. How did he end up at IncNow after studying science you ask? […]

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4 Important Things to Know About Delaware LLCs

By IncNow January 18, 2018

I recently attended an LLC seminar sponsored by the National Business Institute in Wilmington, DE. The seminar was titled “LLCs From Start to Finish.” As an incorporation specialist with IncNow it served as a chance to reinforce my knowledge on all-things-LLC and learn from presenters with different perspectives on Series LLCs, accounting issues, and particularly […]

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The History of LLCs

By IncNow

Two hundred years ago, if you were to invest in a shipping sailboat going across the ocean, the owners were personally responsible for not only the cargo and the ship but everything that went wrong; if it ran into a dock or another ship, the owners were responsible. This caused the owners to be afraid […]

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The Series LLC: Not Your Average Business Entity

By IncNow
series llc ted talk

IncNow President John Legaré Williams recently gave a TEDxWilmington Talk on the series LLC. This is what he discussed. The Series LLC allows you to separate your assets Many business types can use the Series LLC The Delaware Series LLC is a popular choice I need you to suspend your disbelief just for a second […]

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Delaware Blockchain Legislation to Revolutionize Corporate Record Keeping

By IncNow July 31, 2017
filing cabinet

Delaware corporations are now able to store corporate records on a blockchain, thanks to legislation passed this week by the Delaware General Assembly and signed by Governor John Carney. This innovative legislation allows Delaware companies to finally toss the stacks of paper stock ledgers collecting dust on shelves, and provides a secure and immutable electronic […]

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IncNow’s William Purman Competes in the Piediluco International Regatta

By Will Purman May 10, 2017

IncNow’s Technology Director, William Conesa Purman (University of Delaware ’13), has been with IncNow since 2011, while also training often twice a day as a high-performance rower at Pennsylvania Athletic Club and Malta Boat Club in Philadelphia, Pennsylvania. He rows for the Puerto Rican National Team and almost qualified for the Olympic Games in Rio […]

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Small Business Tax Loophole Allows LLC to be Taxed at 15% Rate

By IncNow December 20, 2016
franchise tax

Can I save money on taxes with a Delaware LLC? Here are ways that a Delaware LLC could save Federal income and employment tax. After forming an LLC, there are three alternative tax regimes. No action is required for the first one, and the other two tax elections can be elected into if you think […]

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IncNow’s President to Speak at Delaware State Bar Association Seminar on Starting New Law Firms

By IncNow December 9, 2016

IncNow President John L. Williams has been selected by the Delaware State Bar Association to serve as a speaker at the inaugural Starting a Law Practice seminar. The two-session seminar, sponsored by the Law Office Management Assistance Program of the DSBA, is geared towards Delaware attorneys looking to build their own firm.The seminar will cover a broad […]

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IncNow IT Director Competes at the SilverSkiff Regatta in Italy

By Will Purman November 30, 2016

IncNow’s Technology Director, William Conesa Purman (University of Delaware ’13), has been with IncNow since 2011, while also training often twice a day as a high-performance rower at Pennsylvania Athletic Club and Malta Boat Club in Philadelphia, Pennsylvania. He rows for the Puerto Rican National Team and almost qualified for the Olympic Games in Rio […]

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IncNow President Provides Contribution to American Bar Association Article on LLC Operating Agreements

By IncNow October 20, 2016
ABA Operating Agreement

The American Bar Association tackles Delaware LLC operating agreements and general business practices in a new article featuring IncNow President, John Williams. Williams serves as a key contributor in “Operating Agreements Today: The Foundation to Avoid Controversy Tomorrow,” found in the ABA’s Probate & Property magazine. The passage outlines common oversights when forming an LLC, […]

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Global Delaware and IncNow Team Up for Online Business Formation

By IncNow October 14, 2016

Forming a Delaware LLC or corporation for entrepreneurs is about to get even easier with IncNow thanks to an initiative of Global Delaware and the Delaware Division of Libraries. On Monday, October 17th, IncNow incorporation specialists will be present at the Inspiration Space within the Wilmington Public Library as it plays host to Governor Jack Markell […]

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How the Federal Reserve Influences Interest Rates

By IncNow August 15, 2016

Almost daily there is speculation in the media and in discussions among investment professionals about whether or not the Federal Reserve will raise or lower interest rates, or keep them at the same level. Changing interest rates is not as simple as issuing a press release stating what the rate will be. It is far […]

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What is the difference between an LLC and a Corporation from an organizational perspective (non-tax)?

By IncNow August 1, 2016
asset protection

Unlike a Delaware corporation, a Delaware limited liability company (“LLC”), is characterized by the following “built in” attributes often not found in the documents, older rules and stricter formalities that apply to corporations. Of utmost importance to the Delaware LLC’s desirability is the freedom of contract for its members in arranging the organizational structure of […]

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Blockchain: From Bitcoin to Delaware Stock Transfer

By IncNow July 12, 2016
Delaware Blockchain Initiative

When Satoshi Nakamoto (pseudonym for unknown author) created the cryptocurrency Bitcoin on October 31, 2008, he envisioned the possibility of transacting payments without the need of a third party authenticator or government entity and international payments free of conversion rates. This new, decentralized system of recording transactions marked a disruption for traditional banking, because cutting […]

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How to add or remove members from a Delaware LLC

By John Williams May 5, 2016
how to add members to an llc

How is the change in membership documented? Typically, the names of LLC members are not filed with the State of Delaware, therefore there is no amendment that needs to be filed with the Delaware Division of Corporations or your Registered Agent to add or remove members from a Delaware LLC. The names of the members […]

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Purman Finishes 10th at Pre-Olympic Qualifier

By IncNow April 22, 2016

IncNow Technology Director Will Purman has been with us since 2011, while also training often twice a day as a high-performance rower at Malta Boat Club in Philadelphia, Pennsylvania. We are pleased to share the final post in Will’s series of blogs recounting his recent travels and international race results. To catch up on how […]

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Wyoming Supreme Court Makes Piercing Single Member LLC Veil More Difficult

By IncNow March 31, 2016

UPDATE: In the aftermath of the Green Hunter Energy case, Wyoming legislature recently added two new subsections to its LLC Act that will make “piercing the veil” of a Wyoming LLC more difficult. The law has been amended to address the limited liability of Wyoming LLC Members, which was weakened by the Green Hunter decision: […]

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Using LLCs in sophisticated real estate financing

By IncNow March 23, 2016

For acquisitions or refinancings over $5 Million, the borrower may be able to obtain more competitive interest rates though Commercial Mortgage Backed Securities (“CMBS”) loans instead of traditional bank financing. CMBS loans meet special requirements allowing them to be bundled and sold in blocks on capital markets. Usually income properties with tenants are the most […]

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Can an LLC be formed on a specific day?

By IncNow March 18, 2016

Can you specify a future filing date for a business? Must a business be formed on a weekday? Can you “back date” a business filing? Dear IncNow, I would like to form an LLC on a date that happens to be on a Saturday this year. Can the LLC’s formation papers still have this date, […]

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Sights set on Rio Olympics, IncNow Team Member returns to Delaware

By IncNow March 8, 2016
rower

IncNow Technology Director Will Purman has been with IncNow since 2011, while also training often twice a day as a high-performance rower at Malta Boat Club in Philadelphia, Pennsylvania. We are pleased to share another blog post of Will’s recounting his recent travels and international race results. To catch up on how Will has been […]

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When is the best time to incorporate a business?

By IncNow February 16, 2016

Once a business is incorporated, is the liability protection retroactive? Are you protected against business liabilities that arise from pre-incorporation decisions? Is the state fee prorated if you incorporate later in the year? Dear IncNow, When is the best time to incorporate a business? If money has already been spent before incorporation, should it be […]

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Should my Registered Agent sign the LLC Agreement?

By IncNow February 10, 2016

If the Certificate of Formation does not list owners, what document proves I am an owner? My bank won’t accept the LLC Agreement. Do I have another option? Is it necessary to amend my Certificate of Formation to list the owners? Dear IncNow, My bank is telling me that I need my registered agent to […]

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Does My Delaware Corporation Need New York Foreign Qualification?

By IncNow February 3, 2016

What does it mean to be a “foreign” corporation? How can I tell if I need Foreign Qualification for my corporation? Where can I open my business bank account? Dear IncNow, I am the only founder of a Delaware C-Corp startup that is still in development, living in New York. Do I have to register […]

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IncNow Team Member Training for 2016 Olympics

By IncNow January 29, 2016

IncNow Technology Director Will Purman has been working with us since 2011, while also training often twice a day as an elite rower at Malta Boat Club in Philadelphia, Pennsylvania. Will recently traveled to southern France to train for the Spring and Summer racing seasons, with the ultimate goal being the 2016 Summer Olympics in […]

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IncNow President John Legaré Williams, Esq. authors article in Business Law Today

By IncNow January 26, 2016

IncNow President John Legare Williams, Esq. was recently published as a guest author in the American Bar Association Business Law Section’s online newsletter, Business Law Today, in the January 2016 edition. John’s article, Rural Metro: Gulping Advisers and Practitioner Guidance, was featured in the Delaware Insider column, which highlights recent cases and trends in Delaware […]

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What Documents Show That a Company Has Been Revived?

By IncNow January 22, 2016

Does the simple Certificate of Revival prove that my company has been revived? Can a Certificate of Revival be used to re-open a bank account? Other than the filing fee, what other costs are associated with reviving a Delaware LLC? Dear IncNow, Thank you very much for the good news regarding the Revival of my […]

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What Should I Do After Incorporating?

By IncNow January 8, 2016

How much you should be paying to maintain your LLC and when Do you need to register your company where it is transacting business? Tips to keep your personal and business assets safe Dear IncNow, Thank you for sending the formation documents. We are updating the Operating Agreement and will sign it within a couple weeks. I will […]

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Is the Certificate of Good Standing you emailed to me the “original”?

By IncNow November 10, 2015

“Thank you for your email, but I will require an original of the Certificate of Good Standing with a raised seal. California does not accept copies. Please mail out the original with the rest of my formation documents. Thanks.” Dear Customer, The Certificate of Good Standing that we sent as an attachment to our email to […]

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Why does Delaware have such business-friendly corporation laws?

By IncNow October 27, 2015

“Why does Delaware have such business-friendly corporation laws?” Dear Customer, Delaware has the most pro-business laws of any US state and has a “goldilocks” balance of being stable and slowly evolving. When teaching corporate law, professors across the country teach Delaware corporate law. The United States Chamber of Commerce has recognized Delaware’s business dispute and […]

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Do I need to register my Delaware LLC where I’m doing business?

By IncNow October 23, 2015

If I form a Delaware LLC, will I need to register it in my home state where I do business?” Dear Customer, A Delaware company can be operated from any state within the United States. The question is whether you will need to file with the other state(s) where you are doing business. The answer is […]

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New Delaware Corporate Information System (“DCIS”) launched on September 8, 2015

By IncNow October 15, 2015

Over Labor Day weekend, after over a decade of development efforts, the Delaware Division of Corporations (the “Division”) successfully launched a new web-based system to administer its business entity and UCC filing systems.  Fortunately, Delaware state administrators and the agent community had a long period to train, test and update the system to make sure […]

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Are You a Serial Entrepreneur? Consider the Delaware Series LLC.

By IncNow October 6, 2015

Serial entrepreneurs should consider the Delaware Series LLC, the most cutting-edge type of business on the market. While it is advisable to set up a new LLC for each different business interest, if the cost of managing a dozen or more companies is overwhelming, consider another alternative: the Series LLC. Are you someone who is […]

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When I form my Delaware LLC, what add-on services do I need to order?

By IncNow September 28, 2015

IncNow’s Complete and NOW Delaware LLC packages include the documents your LLC will need to get started. In your package of formation documents, you will receive your Certificate of Formation that shows your company has been filed and Operating Agreement, which lays out the agreed-upon terms of the LLC’s operations and its ownership. An LLC […]

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Delaware LLC Operating Agreement Pre-Flight Checklist

By IncNow June 25, 2015

Delaware Courts will enforce your Delaware LLC Operating Agreement as written. It’s important to document the essential business understanding from the outset. Anyone starting an LLC in Delaware should have a written Delaware LLC Operating Agreement detailing the management and ownership structure. An LLC Agreement is required in Delaware and although the verbal agreement is legal, […]

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Delaware Helps Federal Investigators by Requiring Delaware LLC’s “Communications Contact” Have Access to a Record of Each Member and Manager

By IncNow January 14, 2015

A few years ago, pressure from U.S. Treasury and International countries prompted Delaware to require a “communications contact” for each LLC formed in Delaware. A 2014 Amendment clarified what is required of this communications contact, including access to ownership and management contact information. What is a Communications Contact for a Delaware LLC? Before these 2014 […]

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Music to Guide You from Incorporation to Success

By IncNow December 30, 2014

Finding inspiration in lyrics and energy in the rhythm can get entrepreneurs moving. Perhaps you are looking for songs or a playlist that can serve as a business start-up soundtrack for when you file a Delaware LLC to become your own boss! These songs cover everything from inspiration to innovation and should help fuel your […]

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IncNow President John L. Williams, Esq. Appointed ABA Advisor to Uniform Laws Commission on Series of Unincorporated Business Entities Act

By IncNow December 10, 2014

On November 20, 2014, the American Bar Association Real Property, Trusts and Estates Section appointed IncNow President John L. Williams, Esq. as an American Bar Association (ABA) Section Advisor on the Uniform Laws Commission (ULC) committee to draft Series LLC provisions that numerous states will use as a model for laws establishing series entities, including […]

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When It Comes to Liability, Don’t Take It Personally: Reincorporate in Delaware with a Delaware LLC Conversion

By IncNow October 27, 2014

Kevlar, a protective fabric in bullet-proof jackets, has saved countless lives of police officers and military personnel. Kevlar is a DuPont fiber product, invented in Delaware. Delaware has another invention with protective properties in its incorporation laws, which have saved countless business owners from creditors who would have pierced the corporate veil had the judgment […]

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How a Delaware Corporate Certificate of Validation Could Have Saved a Google Stock Split Had Split Been Done In Error

By IncNow October 20, 2014

Google is a high-flying stock and darling of Wall Street, but a minor error in a recent stock split could have undermined confidence in this blue chip company. These errors are more common than you would like to believe. To fix such filing errors retroactively with corporations, Delaware has enacted a “Certificate of Validation” law […]

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Why Do Commercial Mortgage-Backed Securities Loans require that the Borrower be a Delaware LLC?

By IncNow October 13, 2014

When financing real estate projects over $3,000,000 from across the country, often the best rates are available when Commercial Mortgage-Backed Securities (CMBS) loans are used instead of traditional bank financing. We have seen these requests made for a variety of business properties such as storage facilities, student housing, multi-family housing, retail centers and commercial office […]

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Moms Who Blog Should Use a Delaware LLC

By IncNow October 6, 2014

Mommy Blogs have exploded in popularity in the last few years. Now anyone with a computer or smartphone is able to express her opinion to potentially millions of female household decision-makers on easy-to-use and often free or inexpensive platforms such as Tumblr and WordPress blogs. Due to the perceived informal nature of a blog, mommy […]

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Delaware “Just Says No” To Marijuana Inc.

By IncNow September 29, 2014

Delaware may be known for being “business friendly”, but Delaware can be a buzzkill when it comes to blatant “marijuana” business names. The Delaware Secretary of State rejects certain names it administratively determines are not engaged in a “lawful business, purpose or activity.” Delaware does not mind if you want to export entity products, but do […]

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How Can Canadian Businesses Benefit from an LLC?

By IncNow June 11, 2014
maple leaf

If you want the benefit of an LLC in Canada, you will need to form an LLC in the United States. Most people from Canada who want an LLC will form it in Delaware. Surprisingly, Canada has no equivalent to the LLC under national or provincial laws. The process of forming a Delaware LLC and […]

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Should I Incorporate My Business in Delaware?

By IncNow May 20, 2014

Anyone who can incorporate in another state can decide instead to incorporate in Delaware. U.S. constitutional law allows you to incorporate in Delaware with the same rights and privileges as a business incorporated in your home state. The difference is that Delaware law will govern the internal affairs of your business. People from all over […]

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When Forming a Delaware LLC, Choose a Registered Agent with Direct Access to the Delaware Corporation Imaging System.

By IncNow May 19, 2014

A limited number of commercial registered agents have access to a dedicated online connection to the State of Delaware. This online filing system is not web based. It is a MS-DOS based terminal where the user has direct access to the Delaware Secretary of State Division of Corporations mainframe. DCIS stands for Delaware Corporation Information […]

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Is an Office Address Required to Incorporate in Delaware?

By IncNow March 3, 2014

One of the most commonly asked questions is whether a business address or physical address is a requirement to incorporate in the state of Delaware.  Both domestic and international customers ask this question.  Since most of the businesses filed in Delaware are located outside Delaware; this is a common concern. Do not let this concern […]

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Dedicated Delaware Series LLC information page at Incnow.com

By John Williams September 17, 2013

Just today, Incnow.com added a new page dedicated to the series LLC. This page is designed to help someone forming a series LLC to understand their operation from start to finish. It explains the difference between the cell and the company and even discusses up and coming issues to be addressed by the Uniform Laws […]

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Delaware Public Benefit Corporations: Doing Well and Doing Good

By John Williams August 5, 2013

A new Public Benefit Corporation law became effective on August 1, 2013 in Delaware. This law creates the option to incorporate a public benefit corporation, which is a for-profit corporation that also has a public benefit goal. Managers, officers, and directors must balance the best interests of stockholders, public interest, and the interests of those […]

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Why Should You Incorporate in Delaware?

By John Williams June 22, 2013

Chances are you are located outside Delaware, but your friends suggested Delaware to you. The question is why? Why would you incorporate in Delaware, when you could incorporate in your home state? We have created an infographic that explains why to incorporate in Delaware. Why is Delaware the best place to incorporate? The simple answer is […]

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Why everyone should use the Series LLC

By John Williams April 26, 2013

Incnow is excited to announce that John Williams will be presenting a seminar on the Series LLC to the American Bar Association’s section on Real Property, Trusts and Estates titled: Why Everyone Could Use a Series LLC. The seminar will be a 1.5 hour teleconference at noon on Tuesday, May 14, 2013. Having set up […]

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How is the Delaware Series LLC like an egg carton and a 747?

By John Williams March 4, 2013

Would you buy a dozen eggs with each in its own individual packaging? Would you buy a dozen eggs all sloshing around in a basket together? In the first example, the packaging is wasteful and embellished and makes them hard to open when needed and difficult to carry around. However in the second example the […]

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Do I need to obtain an EIN Number for a Delaware LLC?

By John Williams December 19, 2012

An LLC run as a one member LLC can either use the Social Security Number (SSN) of the single owner to conduct business, or it can obtain a separate Employer Identification Number (EIN). An EIN is also required for an LLC if it is a multimember LLC. We recommend that you obtain an EIN number […]

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2012 LLC Institute: practical aspects of charging orders

By John Williams October 18, 2012

 Potomac Boathouse John Williams is attending a 2-day conference in Washington, D.C. called the LLC Institute. Jay Adkisson is now presenting on charging orders. His position is they should not exist. They are a historical bastard. Creditors don’t use this usually. They use alter ego or something else. There is no uniformity between states on […]

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Why Attorneys SHOULD use the Series LLC – Upcoming ABA Conference Call

By John Williams September 28, 2012

John Williams will be presenting a “hot topics” conference call with the American Bar Association’s Real Property Trusts and Estates Section’s subcommittee on Partnerships and LLCs to discuss why attorneys SHOULD use series LLCs in real estate transactions. This call is tentatively scheduled for mid January, 2013. Items to be discussed will include common applications […]

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Why Bloggers Should Incorporate: How to transfer blog assets over to your new company

By John Williams September 10, 2012

You may enjoy expressing yourself in the freedom and irreverence of the blog format, unconstrained by typical journalistic restraints.  Self-imposed restraints that journalists have in traditional media is for a reason.  Journalists don’t want to publish information that, even if true, casts non-public figures in a false light, or take the chance of using copyrighted […]

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From Inspiration to Incorporation: How to turn an idea into a business

By John Williams September 5, 2012

Take a look around. What do you see? Buildings, advertisements, televisions, computers, furniture, food, vehicles, and, of course, nature. What is absent from these items is the story and where the story began. You may see brands, you may see the products, but how much thought do you ever put into how it all came […]

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IncNow Staff Adventure Profile: U.S. National Rowing Team Ambitions

By John Williams August 21, 2012

Recently many of us watched the Summer Olympics. In rowing, the United States men’s and women’s teams each won medals. IncNow is playing a small part in helping to boost the success of the U.S. National Rowing Team by providing opportunities to ambitious athletes trying out for the U.S. National Team. Vice President of IncNow, John Williams, […]

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Why incorporate with Incnow? It’s simple: Value.

By John Williams August 9, 2012

With all the incorporation and registered agent services found online; how do you know which company offers the best service, quality and timeliness at a very low cost?  This equals tremendous VALUE.  Others have registered agent fees which are as high as $300.00 per year; and filing packages which are as high as $1,000.00 (the […]

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Staff Adventure Profile: Climbing Mt. Rainier

By John Williams August 7, 2012

On July 17th, IT intern Alec Walczak boarded his flight for Seattle-Tacoma International Airport in the pursuit of summiting Mt. Rainer, a 14,411 foot peak in Washington State. His journey began on the morning of July 19th with Alec’s friend from home, six other climbers, and four expedition leaders at Paradise Jackson Visiting Center (5,000 […]

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Mitt Romney was not listed as Director or President on Delaware Annual Reports of Bain Capital, Inc. in 2000 or 2001 (only the 1999 report)

By John Williams July 16, 2012

Mitt Romney has been getting a lot of heat about SEC filings last week and this weekend. The interesting part is the discrepancies between his claims of being not involved in the management of the company, while being listed as the Chairman and President of Bain Capital, Inc. What I revealed in the previous post […]

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How are Minutes and Bylaws like the “spork”?

By John Williams February 11, 2012

Bob is deciding between a limited liability company (“LLC”) and a Corporation (“Inc.”) and he first “does his homework” to see what documents are included with the package. Bob notices the “complete LLC” includes a certificate of formation on file with the Division of Corporations and an internal LLC operating agreement. He may realize that […]

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How is a Series LLC, like a Fountain Soda?

By John Williams December 31, 2011

I was thinking about a new way to describe the “series LLC” today: the analogy is “bags-in-a-box.” The series LLC has been described as many companies in one with internal asset segregation, not available elsewhere without multiple entity filings. We have been forming these since about 2004, and were one of the early adopters. We […]

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Taking the mystery out of forming a Delaware LLC…the nuts and bolts from order to formation.

By John Williams November 16, 2011

I thought it would be helpful to explain the Delaware Limited Liability Company (“LLC” or “company”) formation process after Agents and Corporations, Inc. (“we” or “our”) receive an order through www.incnow.com.  Our office upon receiving your order will first log into the State of Delaware Secretary of State Division of Corporations (the “State”) computer system […]

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Top 10 LLC Misconceptions

By John Williams September 23, 2011

1. LLC’s have stock. No. LLC members’ ownership derives from the agreement with the company and its other members, not from the possession of a certificate. While an LLC can issue membership certificates, it is not recommended and such membership certificates are misleading. The ownership interest is derived from the contract, not possession of a […]

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