IMPORTANT NOTICE to our Corporate clients - Annual Delaware Franchise Tax is due to the State of Delaware no later than March 1, 2017 to avoid penalties/interest.

LIMITED LIABILITY COMPANY FORMATION

Delaware Registry is your headquarters for limited liability company formation. If you wish to form a Delaware limited liability company we can provide quick courteous service and information. Below is a summary of the Delaware corporation law pertaining to Delaware incorporation and Delaware limited liability company formation.

A Delaware Limited Liability Company (LLC) is a hybrid business entity, designed to combine the advantages of a corporation with the tax advantages of a partnership. Like a corporation, the owners of an LLC are not personally liable for the LLC's debts and obligations. Like a partnership, an LLC can be treated as a pass-through entity for tax purposes. This may be advantageous for those who cannot meet the IRS requirements for an "S" corporation and desire the tax pass-through treatment.

In summary, a Limited Liability Company provides:

  1. the pass-through tax treatment of a partnership
  2. the liability protection afforded by a corporation (and not available with a partnership)
  3. the freedom from the restrictive and burdensome qualification and operating requirements that come with an "S" corporation.

Please note that upon registering an aircraft with FAA, the LLC may need to submit a copy of its Operating Agreement. The agreement is found in the company kit, which we can provide to you for an additional fee.

You should check with your accountant or tax advisor to determine if a corporation or a limited liability company best suits your individual needs.

Per Delaware Code 18-305(h) A Limited Liability Company shall maintain a current record that identifies the name and last known business, residence or mailing address of each member and manager. (Note: If you are the communications contact for the LLC you must have access to the name(s) and address of each member and manager to be provided upon request).