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Delaware's economy shifted to a manufacturing base in the late 19th century, led by the transformation of the DuPont Company. [1] Modern growth in the financial workforce has overtaken the manufacturing sector in the state's economy. The Delaware General Corporation Law provides a flexible and stable framework for national incorporation. [2]
Delaware acquired its status as a corporate haven in the early 20th century. Following the example of New Jersey, which enacted corporate-friendly laws at the end of the 19th century to attract businesses [5] from New York, Delaware adopted on March 10, 1899, a general incorporation act aimed at attracting more businesses.
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . [ 1 ]
For an LLC in Delaware, the state franchise tax is $300 and is due before June 1 of each year. Failure to file the final franchise tax can result in a $200 fine plus a 1.5% monthly interest penalty.
No legal recognition of statutory trusts existed until the passage of the Delaware Statutory Trust Act (DSTA), 12 Del. C. 3801 et. Seq., in 1988. [6] Under The Act, developed on the premise of trust law , [ 7 ] statutory trusts were now recognized as their own legal entity, separate from their trustee(s), [ 8 ] offering freedom from the ...
The number of LLC formation services available online is a blessing. These reliable and knowledgeable service providers ensure your LLC is formed quickly, swiftly, and accurately. Top 5 Best LLC ...
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