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You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience. Today, more than one million business entities have made Delaware their legal home. Although the number of entities organized in Delaware is impressive, even more important is the fact that so many large and important corporations whose shares are listed on major stock exchanges are incorporated in Delaware.
Indeed, more than 60 percent of the Fortune companies are incorporated in Delaware. But organization in Delaware is not only for U. It is shaped by corporate-law experts and protected from influence by special-interest groups. The Delaware legislature every year reviews the DGCL to ensure its ability to address current issues. The DGCL is also an enabling statute. Instead, the DGCL includes a few important mandatory requirements to protect investors and otherwise provides flexibility for corporations to carry out their business.
Delaware has a special court, the Court of Chancery, to rule on corporate law disputes without juries. Corporate cases do not get stuck on dockets behind the multitude of non-corporate cases. Instead, Delaware corporations can expect their legal disputes to be addressed promptly and expertly by judges who specialize in corporate law. Part of the bi-partisan political consensus in Delaware is to appoint and confirm the best qualified corporate law experts to the Court of Chancery.
And part of the legal culture in Delaware is to honor appointment to the Court of Chancery as the highest and most respected form of public service. Delaware doesn't impose income tax on corporations registered in the state which don't do business in the state. Also, shareholders who don't reside in Delaware need not pay tax on shares in the state.
For these reasons, Delaware is sometimes referred to as a tax haven. There is a corporation court. Delaware has a Court of Chancery, which handles only corporation cases. The judges are experts in corporate law, and the decisions from the court tend to be more predictable than those in other states. Filings are processed quickly. Because Delaware is committed to being corporation-friendly, they will process your filing the same day. Privacy is protected. When you file in Delaware, you don't need to disclose your directors' and officers' names to the state.
This allows for anonymity. Residency is not required. Officers, directors, and shareholders don't need to be residents of Delaware. You can have a slimmed-down corporate structure. Delaware law allows just one person to hold the role of officer, director, and shareholder, which is attractive to small businesses. Investors prefer Delaware. If you're going to look for angel investors or venture capital, know that most of these prefer you incorporate in Delaware.
Disadvantages of Registering in Delaware While Delaware offers distinct benefits, there are also significant drawbacks to incorporating there. Here are other factors to consider: There are no real tax savings for small businesses. Although Delaware doesn't tax companies incorporated in the state that don't do business there, your home state will tax your company, so you do not avoid taxation. Filing is more expensive.
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