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On October 17th, 2022, a hive of high-profile corporate attorneys will swarm Wilmington, Delaware to appear in front of the Court of Chancery. The state’s business court was tasked with resolving a dispute between Tesla CEO Elon Musk and Twitter, Inc. The lawsuit stems from Musk’s attempt to back-out of a deal he brokered in […]
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You may be asking “What does LLC stand for,” “Which entity should I choose,” “What is Inc.,” “What does Co. mean,” “What is LLC,” or “Ltd vs. LLC?” Before you incorporate, you need to choose which type of entity is right for you. This isn’t something you’re born knowing, and they don’t teach it in […]
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Before forming an LLC, it is important to understand how it will be structured and managed. LLCs offer business owners complete flexibility to create unique management structures. This includes choosing officer titles, delegating management responsibilities, and structuring ownership interest. Here we breakdown common management and ownership structures for LLCs, including who the LLC Members and […]
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Many companies are LLCs. While the abbreviation can be spotted at the end of many company names, it’s understandable that you might not be entirely clear on what, exactly, an LLC is and its purpose. Each state has its own unique statutory law that sets forth requirements to form a Limited Liability Company (hereinafter “LLC” […]
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In April 2021, the Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). IncNow® provided four responses. The first response advocates why the protected series […]
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The Delaware Secretary of State runs the Division of Corporations with more than 1,000,000 active business entities registered in Delaware, including 66% of Fortune 500 companies. Entrepreneurs know Delaware for having an efficient and business-friendly state government which promotes the seamless formation and maintenance of corporations and LLCs. This is due to the leadership of […]
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Members of an LLC are subject to capital contributions and profit distributions based on terms they agree to in the Operating Agreement. Below we talk through several key issues for you to consider as you receive and distribute capital for your LLC. What is a capital contribution? A capital contribution is the cash or property […]
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We often get questions from entrepreneurs about how to open a bank account for a Delaware company. Each bank in the United States has its own requirements, so you must check with your bank. However, we have compiled guidelines that serve as a floor to what banks must follow. Often a particular bank will ask […]
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We have all braced the varying impacts that COVID-19 has had on our lives. Collegiate athletes are no exception, persevering through a unique struggle of their own. IncNow has offered internships to two student-athletes during the pandemic. In addition to learning about incorporation, these athletes are now training for a Half-Ironman competition. This training has […]
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Forming a Delaware LLC is an exciting time for your company, but it’s important to operate your company the right way afterward. Unfortunately, mistakes are sometimes made. These are some of the biggest issues we see—and how to remedy them. Mistake No. 1: The Operating Agreement is returned to the formation agent. Some business owners […]
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It’s understandable that you want to find the best price when it comes to forming your LLC. But what does a cheap LLC setup look like, and how much should it cost to form an LLC? Here’s what you need to know. What Fees Are Required with an LLC? Every LLC registered in the State […]
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When you organize a company, the language may be English, but the jargon sounds “foreign” like you are playing a card from Dungeons and Dragons for an invincibility cloak. Wading through the lingo, one particular term you may encounter is “juridical entity.” While “juridical” simply means “legal”, knowing the characteristics of a juridical entity is […]
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It’s no secret that COVID-19 is changing the lives of many people. On the job front, some people are facing unemployment or job insecurity, and workplaces are starting to discover that the standard office model may not be efficient or even needed anymore. The pandemic has also delivered a blow to the economy, causing some […]
Continue Reading¿Puedo crear una empresa en los Estados Unidos? En IncNow hemos visto un creciente interés por los beneficios que ofrece el Estado de Delaware a personas y entidades internacionales a la hora de establecerse en los Estados Unidos. Debajo damos respuesta a preguntas que frecuentemente recibimos de nuestros clientes y que presentamos en español para […]
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Sustainability is important to many corporations, and being publicly labeled as a sustainable company can attract a certain type of loyal employee and customers. You may be considering adopting a corporate or LLC public benefit company label to distinguish you from your competition, and develop customer loyalty to your brand. Here’s what you need to […]
Continue ReadingFamilies often want to save taxes and provide for future generations. With a Delaware irrevocable trust setup as a Dynasty Trust you can avoid the dissipation of assets by transfer taxes. This allows your family to accumulate substantial wealth free of transfer taxes. Plus if none of the beneficiaries are in Delaware, there is no […]
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Keep your Delaware LLC from sinking prematurely as a result of member business divorce. Plan ahead for inevitable partnership disputes by drafting membership prenuptial provisions from the outset. In this article we teach you the vernacular of LLC member buyout options, such as “Baseball” versus “Shotgun”, “Tag-Along” versus “Drag-Along”, and “Rights of First Refusals” versus “Rights of First Offers”. These are ways […]
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Austin Craig is currently an Incorporation Consultant at IncNow. After graduating from the University of Delaware with a B.S. in Marine Science, he was searching for employment while finishing a research project involving forage fish and algicide treatment at UD’s Lewes, Delaware campus. How did he end up at IncNow after studying science you ask? […]
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I recently attended an LLC seminar sponsored by the National Business Institute in Wilmington, DE. The seminar was titled “LLCs From Start to Finish.” As an incorporation specialist with IncNow it served as a chance to reinforce my knowledge on all-things-LLC and learn from presenters with different perspectives on Series LLCs, accounting issues, and particularly […]
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IncNow’s Technology Director, William Conesa Purman (University of Delaware ’13), has been with IncNow since 2011, while also training often twice a day as a high-performance rower at Pennsylvania Athletic Club and Malta Boat Club in Philadelphia, Pennsylvania. He rows for the Puerto Rican National Team and almost qualified for the Olympic Games in Rio […]
Continue Reading El director de tecnología de IncNow, William Conesa Purman (Universidad de Delaware ’13), ha estado con IncNow desde 2011, mientras también entrenando dos veces al día como un remero de alto rendimiento en el Club Atlético de Pennsylvania y Malta Boat Club en Filadelfia, Pensilvania. Él rema para el equipo nacional de Puerto Rico y […]
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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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IncNow’s Technology Director, William Conesa Purman (University of Delaware ’13), has been with IncNow since 2011, while also training often twice a day as a high-performance rower at Pennsylvania Athletic Club and Malta Boat Club in Philadelphia, Pennsylvania. He rows for the Puerto Rican National Team and almost qualified for the Olympic Games in Rio […]
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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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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 […]
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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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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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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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“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 […]
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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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 ReadingKevlar, a protective fabric in bullet-proof jackets, has saved countless lives of police officers and military personnel. Kevlar is a DuPont fiber product, invented in Delaware. Delaware has another invention with protective properties in its incorporation laws, which have saved countless business owners from creditors who would have pierced the corporate veil had the judgment […]
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If you want the benefit of an LLC in Canada, you will need to form an LLC in the United States. Most people from Canada who want an LLC will form it in Delaware. Surprisingly, Canada has no equivalent to the LLC under national or provincial laws. The process of forming a Delaware LLC and […]
Continue ReadingThe differences in business law between China and the United States often come as a surprise to even the most sophisticated business people in China. Basic expectations and norms are very different which can make doing business a challenge. The first challenge is starting the business. This is an easy process, but the decision where […]
Continue ReadingJust today, Incnow.com added a new page dedicated to the series LLC. This page is designed to help someone forming a series LLC to understand their operation from start to finish. It explains the difference between the cell and the company and even discusses up and coming issues to be addressed by the Uniform Laws […]
Continue ReadingOver a month ago, we forwarded by mail to all Delaware corporations for whom we serve as the registered agent the Official Tax Notice from the Delaware Division of Corporations. We also sent out two reminders. This Annual Franchise Tax Report must be filed online on or before March 1, 2013 for your Corporation to […]
Continue ReadingAn LLC run as a one member LLC can either use the Social Security Number (SSN) of the single owner to conduct business, or it can obtain a separate Employer Identification Number (EIN). An EIN is also required for an LLC if it is a multimember LLC. We recommend that you obtain an EIN number […]
Continue ReadingRecently many of us watched the Summer Olympics. In rowing, the United States men’s and women’s teams each won medals. IncNow is playing a small part in helping to boost the success of the U.S. National Rowing Team by providing opportunities to ambitious athletes trying out for the U.S. National Team. Vice President of IncNow, John Williams, […]
Continue ReadingWith all the incorporation and registered agent services found online; how do you know which company offers the best service, quality and timeliness at a very low cost? This equals tremendous VALUE. Others have registered agent fees which are as high as $300.00 per year; and filing packages which are as high as $1,000.00 (the […]
Continue ReadingOn July 17th, IT intern Alec Walczak boarded his flight for Seattle-Tacoma International Airport in the pursuit of summiting Mt. Rainer, a 14,411 foot peak in Washington State. His journey began on the morning of July 19th with Alec’s friend from home, six other climbers, and four expedition leaders at Paradise Jackson Visiting Center (5,000 […]
Continue ReadingMitt Romney has been getting a lot of heat about SEC filings last week and this weekend. The interesting part is the discrepancies between his claims of being not involved in the management of the company, while being listed as the Chairman and President of Bain Capital, Inc. What I revealed in the previous post […]
Continue ReadingBusiness is a vehicular sport. When you set-up your LLC, you get to choose the make and model of the vehicle. Do you want a foreign or a domestic car? Do you go to the dealership closest to your house figuring you just need to get from Point A to to Point B? Or do […]
Continue ReadingWhen deciding where to incorporate you have a choice of forums to determine which law governs the internal affairs of your business enterprise. You can incorporate in your home state or you can choose Nevada. Nevada has laws like no other, which are invariably better than your home state. Nevada’s state legislature is “pro-active” and […]
Continue ReadingNevada LLC laws are the some of the most business friendly in the country. In Nevada you must declare whether your LLC is to be managed by its members or dedicated managers. Most small businesses decide to be member-managed, like traditional partnerships, where the members have authority to bind the LLC to contracts. This does […]
Continue ReadingChances are you have heard of a Series LLC and are looking into possibly forming one. You have heard that they allow for internal firewalls between assets. They allow for disparate owners. I just looked up the definition of “disparate” to make sure it was the right word to use. TheFreeDictionary.com provided theses two definitions: […]
Continue ReadingI was thinking about a new way to describe the “series LLC” today: the analogy is “bags-in-a-box.” The series LLC has been described as many companies in one with internal asset segregation, not available elsewhere without multiple entity filings. We have been forming these since about 2004, and were one of the early adopters. We […]
Continue Reading1. Form Non-Profit Corp (with language required by IRS for 501(c)(3)), with at least 3 directors. Do internal paperwork, like minutes, bylaws, etc. (We have a service in Delaware that does all this in a standard package for $298 www.incnow.com); 2. Obtain EIN (free online from IRS); 3. Open bank account; 4. File 1023 Application […]
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