Delaware Corporation Requirements

After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Delaware corporations.

Delaware corporate records

Delaware corporations should keep the following items with the corporate records at their principal place of business:

  • The Certificate of Incorporation and bylaws
  • A list of shareholders
  • Books and records of account
  • Minutes of all shareholder and director meetings

Delaware corporate taxes and fees

The following are taxation requirements and ongoing fees in Delaware:

  • Annual report and franchise tax. Delaware requires corporations to file an Annual Franchise Tax Report. The due date for corporations is March 1. The annual report fee is $50 and the franchise tax is calculated based on the number of shares and par value. If the number of shares is above 5,000, the Annual Franchise Tax Report amount may increase.
  • Taxes. For complete details on state taxes for Delaware corporations, visit Business Owner's Toolkit or the State of Delaware.
  • Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
  • State tax identification number. Delaware does not require a state tax identification number.

Delaware business licenses

Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.

S corporation election

Delaware recognizes the federal S corporation election and does not require a state-level S corporation election.

Additional Delaware information

View the following additional resources BizFilings has for forming and maintaining companies in Delaware: