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  • 1.  DELAWARE STATE FILINGS

    Posted 03-18-2014 10:37 AM
    I have a few clients who have incorporated in Delaware as opposed to NYS.  They are paying Delaware Franchise Tax as well as NYS taxes.  Is there an advantage to being incorporated in Delaware as I don't see any.  Am I missing something as I only see the extra Delaware tax of $299/year.
    Thanks in advance for your help!
    Chris

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    Chris Murphy BA
    SANDRA JOHNSON, CPA PC
    Bellmore NY
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  • 2.  RE:DELAWARE STATE FILINGS

    Bronze Most Valuable Member
    Posted 03-18-2014 10:58 AM
    There is a very obvious reason to have a client incorporated in Delaware.  It has to do with liability and legal protection for the client. However, it may not be appropriate or necessary.  Translated, it may not be worth the annual filing cost.

    Call me if you have questions.

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    Edward Caine
    EDWARD P CAINE, CPA LLC
    Bryn Mawr PA
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  • 3.  RE:DELAWARE STATE FILINGS

    Platinum Most Valuable Member
    Posted 03-19-2014 11:38 PM
    Chris, it is sometimes hard to know why they did it. Too often, people hear it's the place to incorporate, not knowing they have to register as a foreign entity in the state they do business.

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    Robert Brown
    ROBERT N. BROWN, CPA
    Jericho NY

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The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.