2. First Step
● FIRST: File the company with the Delaware
Division of Corporations!
○ This is how the legal entity is formed…
this is how you protect your assets!
● SECOND: get your EIN from the IRS
● THIRD: business license from the
Division of Revenue
@DelawareGlobal / Global Delaware
3. ● Corporation (INC)
● Subchapter Corp (S Corp)
● Limited Liability Company (LLC)
LLC or INC?
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware
4. ● INC = $89
● LLC = $90
Cost to form
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6. Choose a business name >>>
● Check online to see if the company
name you want is available.
● You can reserve the name
online for a $75 fee.
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8. The Registered Agent
● A Delaware address
● Service of process
● Reminder for annual fees
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware
9. Shares / Par Value
● For an S Corp...
1500 or less shares,
At a par value of $3 or less.
● File form 2553 with the IRS >>>
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware
10. Submit
● Complete a filing cover memo>>>
● Options for how fast you want it processed
● Mail to the Division of Corporations
● File stamped copy will return to you
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware
11. Annual Fees
INC: $175 - $180,000 due on March 1
LLC: $300 due on June 1
Pay online >>>
Losing “good standing”
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware
12. Obtain a Federal Employee Identification Number
(EIN) from the IRS >>>
● Free
● Takes 5 minutes
EIN
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware
13. Get your business license from the Delaware
Division of Revenue >>>
● Apply online
● $75 annually
● Renew before December 31
Business License
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware
14. Additional tools
Business First Steps >>>
Government Contracting >>>
Office of Supplier Diversity >>>
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