The document outlines the steps to form a business entity in Delaware, which includes: 1. Filing the company with the Delaware Division of Corporations to legally form the entity and protect assets. 2. Obtaining an Employer Identification Number (EIN) from the IRS. 3. Obtaining a business license from the Delaware Division of Revenue. The document provides details on business structure options, costs, naming requirements, registering agents, and annual reporting obligations. It also lists additional resources for starting a business in Delaware.

1. DIY
Delaware Business
Formation
Global Delaware
Emma Pautler
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware

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
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware

5. Corp.delaware.gov >>>

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.
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware

7. Complete and file the Corporate Forms >>>
● INC >>>
● LLC >>>

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 >>>
@DelawareGlobal / Global Delaware@DelawareGlobal / Global Delaware

15. Download
Download this presentation
for future reference:
de.gov/formbiz >>>
Questions?
Emma.Pautler@state.de.us
@DelawareGlobal / Global Delaware