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Annual Report

By IncNow | Published October 8, 2013

A corporation’s one-page online filing due once per year to inform the Secretary of State of the names of all of the Directors and at least one Officer. Required with this report is also a payment of a “franchise tax”. One must file the annual report with the Division of Corporations online, which collects the franchise tax and maintains the Good Standing status of the corporation. Currently, Delaware does not require LLCs to file Annual Reports, although many other states do. The Annual Report in Delaware must be completed online and must list all directors of a corporation as of the time of filing. The registered agent’s address should not be listed as the principal place of business on the annual report. Failing to file this report and pay the franchise tax/fee will result in the corporate charter being revoked administratively by the Secretary of State and thereby lose the privilege and protections afforded to corporations.

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When deciding where to form your company, consider that Delaware has advantages over your home state that may benefit you. Go