Each state has different requirements for forming a corporation. Whether you are starting a business or incorporating a business already in existence, you’ll want to understand state requirements for Delaware incorporation.
The corporation's name must contain the word "Association," "Company," Corporation," "Club," "Foundation," "Fund," "Incorporated," "Institute," "Society," "Union," "Syndicate," "Limited" or the abbreviation "Co.," "Corp.," "Inc.," "Ltd." or words or abbreviations of like import in other languages. The name must be distinguishable from those of other corporations organized, reserved or registered as a foreign corporation under the laws of Delaware. Use of words "Bank," "Banc," "Banque" and "Trust" need approval from the Department of Banking.
The following are Delaware’s requirements for directors of corporations:
The document required to form a corporation in Delaware is called the Certificate of Incorporation. The information required in the formation document varies by state. Delaware's requirements include:
Delaware allows professionals, such as accountants, attorneys and physicians, to form a professional corporation (PC).
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 corporations should keep the following items with the corporate records at their principal place of business:
The following are taxation requirements and ongoing fees in Delaware:
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.
Delaware recognizes the federal S corporation election and does not require a state-level S corporation election.
The state in which you form your company can provide certain benefits.