SINCE 1974
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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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 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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In order to explore what makes corporations and LLCs different, it is important to first note the one primary way in which they are similar: both have a barrier that prevents business debtors from collecting against the personal assets of an owner. This means the owners’ personal assets are not available for collection by a […]
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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 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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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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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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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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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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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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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 […]
Continue ReadingUPDATE: 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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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 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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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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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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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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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 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 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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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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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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Story 1 – Oversight Story 2 – Financial Management Story 3 – Succession Planning For those following the nonprofit corporation industry, this has been an interesting year for governance news. It should not come as a surprise that management and the need for strong oversight and planning remain important issues for all of those working […]
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“My company is moving to a new location, so I need to update the mailing address for my LLC. How do I update it with you as my registered agent?” Thank you for contacting us. You can email us at any time at agents@incnow.com to change your LLC’s contact address. Be sure to send the email from the email […]
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“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 […]
Continue Reading The Operating Agreement that you sent me outlines ownership and voting rights of the members, etc. It would seem to me this document needs to be filed. Who do I send this to? Dear Customer, You do not need to return a signed copy of your Operating Agreement to your registered agent or the State of Delaware. […]
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I am keen on learning more about setting up an LLC in Delaware. As an Australian citizen living outside of the USA, will I have to pay tax on the income/profit generated by the LLC, or would I be paying taxes as part of my personal income tax? Dear Customer, We would be happy to help […]
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“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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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 […]
Continue ReadingOver 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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“I want to start a LLC and one of my investors is a disabled veteran. Can I state that my company is a disabled veteran owned business?” Dear Customer, Usually the majority of owners (51%) need to be part of the qualifying category to be recognized as a disabled veteran-owned business. That also applies to […]
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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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“One of the Members of my Delaware LLC is no longer active in the company. What records do I need to update to reflect this change?” Because the names of the LLC members are not usually filed with the State of Delaware, there is no “amendment” that needs to be filed with the Division of […]
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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 […]
Continue ReadingDelaware 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, […]
Continue ReadingOn May 1st, IncNow President John Williams led a panel of distinguished attorneys on the topic of LLCs in real estate transactions. Also presenting were Andrea Whiteway of McDermott Will & Emery LLP, Barry Nekritz of Faegre Baker Daniels LLP, Edward Wender of Venable LLP and Doug Walker of Miles & Stockbridge P.C. The venue […]
Continue ReadingShould you create another LLC to insulate hot assets from cold assets? The main reason to segregate assets into ring-fenced islands of brother-sister LLCs is to prevent a fire on one part of your business destroying assets in another part of your business. Let us say you are planning to open a fitness center business. […]
Continue ReadingSince one of the first steps in opening a business is launching a website, that may be the first thing you should protect. This is especially true if your website is particularly unique or creative. While you obtain rights merely by publishing it and marking the page copyrighted (e.g., © 2015 Agents and Corporations, Inc. […]
Continue ReadingA 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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