Clara is not an accounting firm and cannot provide tax or accounting advise. You should consult a legal and tax professional for advice on how to meet your obligations. Below is some general information.
C-Corps in Delaware are subject to annual tax obligations:
Federal corporate tax
State corporate tax
Delaware franchise tax
The shareholders of the company may also be subject to individual tax on income or capital gains.
You will need to engage an accountant and bookkeeper to assist with federal, state and individual tax liabilities.
Delaware Franchise Tax – Due 1 March
All Delaware C Corps are required to pay franchise tax and file an annual report. Even companies with no revenue in the previous fiscal year should expect to pay some amount.
The annual report states:
· The address of the corporation’s physical location
· The name and address of one officer
· The names and addresses of all directors
· Total number of issued shares
· Gross assets
Key Tax dates:
· 1 March: Delaware franchise tax due
· 17 April: US federal corporate and individual tax due date