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Business Insights
How to Close a Delaware LLC: 3 Steps Formally closing a Delaware LLC requires completing the following steps: Step 1.) Members Vote on Cancellation Before proceeding with closing the business, the existing Members must agree to cancel the LLC. Oftentimes the LLC Operating Agreement will include a provision detailing how Members should come to […]
LLC
What Is An LLC (Limited Liability Company)? An LLC, or “Limited Liability Company”, is a type of business structure that provides liability protection for its owners. The laws of the state where the LLC is registered uphold these protections. LLCs create a layer of separation between a business and its owners, who are called […]
Delaware Corporation
What Is A Delaware C-Corporation, Exactly? The “C” in C-Corp refers to a corporation’s federal tax designation. The IRS designates Delaware Corporations as C-Corps by default. However, a corporation can elect to be taxed as an S-Corporation by filing IRS Form 2553. Many entrepreneurs get confused when trying to incorporate a C-Corp on their […]
Delaware LLC
How to Add a Member to a Delaware LLC A Delaware LLC can make membership changes by following three simple steps: Step 1: Vote On Changes Changing membership in a Delaware LLC starts with existing LLC members holding a vote. Existing members must provide unanimous consent before an ownership transfer can be made. LLC […]
Annual Report for Corporation
A Corporate Secretary can be a valuable asset to a corporation as it grows. But what does a Corporate Secretary do, exactly? Are companies required to have one? We dive into the details of what a Corporate Secretary is and why they are important. What Is a Corporate Secretary? A Corporate Secretary is one of […]