Delaware LLC - companies in delaware

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A limited liability company is a company with a relatively new hybrid structure, which is now recognized in most states. And it's designed to offer the features of a limited liability corporation, while enjoying the tax efficiency and operational flexibility of a society. Although their training is more complex and formal than in the case of a general partnership.

The owners are members and the duration of an LLC is usually determined when presenting the documents of the organization.

If desired the expiration period can be extended through a vote by the members at the time of the expiration.

An LLC can not have more than 2 features of the four possible by defining the corporations. Limited liability in terms of total assets, the ability to extend the maturity date, centralized management and free transferability of ownership interests.

Over 50% of the world's largest corporations are incorporated in Delaware. One of the best reasons for incorporating, or forming a Delaware limited liability company, is because it provides the anonymity that most offshore jurisdictions do not. The registered agent in Delaware is not obligated to keep any information about the beneficial owner, and the State of Delaware does not require the beneficial owner's identity is revealed.

Delaware LLC constitution process/ Stucture

1. Certificate of formation:
   The formation of the new Limited Liability Company begins with sending the certificate of formation to the secretary of state in which you want to form the LLC. Usually this procedure is done electronically. The document will contain the name chosen for the LLC, the address of its registered office, your mailing address and the purpose for establishing the company. It is not necessary to define a specific activity. For example can be defined as "engaging in any lawful activity. " Usually also include some additional items to establish the rights of members of the Limited Liability Company or whether the company will define a limited duration or is constituted as a matter of life imprisonment.
2. Business entity file number
   Upon receipt of the certificate of formation the Secretary of State shall issue a receipt which also sent the document itself will contain the time and date of receipt and the file number, which is assigned automatically. This number is the registration with the secretary of state and which identifies the company. That concludes the actual training of the Limited Liability Company.
3. First meeting of the members
   during which they choose the most important positions that will govern the Limited Liability Company, managing director, treasurer or secretary. The last two are optional and allows all positions are filled by one person.
4. Membership certificates
   which is equivalent to the actions of corporations and certify the percentage of equity in the LLC of each member. It should be noted that these certificates are always nominative. No bearer shares are allowed in the case of an IBC.
5. Operating agreement
   Not required, is a very important document for the administration of the Limited Liability Company. It becomes the equivalent of articles of association in the IBC and its purpose is to regulate the manner in which they carry out the daily operations of the LLC. Define the responsibilities and rights of members and the executive director. The importance of this document is that before a trial or a demand is the main test of separation of assets and liabilities between the company and its owners. It is therefore essential that the Operating Agreement is properly drafted, even if there is a single member. Especially if you want to use the LLC as a vehicle for asset protection or there is a risk of contracting debts should be written by a lawyer.
6. Annual meeting of the members
   Usually done at least one annual meeting and shall be recorded by the minutes of the annual meeting of members). It is important to raise additional records whenever necessary to take any major decision (opening a new bank account, an investment etc).
7. Employer Identification Number or EIN
   It's the corporate equivalent of the tax identification number of individuals. It is desirable to have an EIN even if the company does not intend to carry out activities in the United States, as required for different procedures. For example, banks will ask you about opening an account. This number can be requested for identification purposes only and involves no tax liability.

Tax benefits

A corporation will be taxed on the income tax. Later, if dividends are distributed to shareholders, they return to pay for them in their individual income tax returns. With an LLC, the same benefit states only once, as personal income. This can be advantageous in cases where the owner is in a low tax bracket, ie the percentage of taxes you must pay for their income level is not too high.

Benefits of a Delaware LLC

• Protection from personal liability for business debts
• Perpetual existence, so that the LLC would continue even if the owner died or left the company
• Owners no need to be citizens or permanent U.S. residents
• It is not necessary to contribute the capital stock. In many U.S. states as in the European countries are required to have a certain amount of capital to form the Company.