Delaware LLC/LP/GP Franchise Tax – Due June 1st 2015!

If you own a Delaware alternative entity (LLCs, LPs and GPs) you should have already received the official notification from State of Delaware Division of Corporations concerning your annual Delaware Franchise Tax assessment.

Each year, the annual franchise tax is due June 1st. Failing to submit the franchise tax payment by the June 1st deadline will result in a State assessed penalty of $200 and interest charges being assessed at the rate of 1.5% per month on the unpaid balance.

Though this is called a ‘franchise tax’ it is really just an annual renewal fee owed to the State for the privilege of maintaining your corporate charter in Delaware. In addition to the penalty & interest described above, neglecting to pay the franchise tax will result in your company ceasing good standing with the State. This means you will not be able to obtain a certificate of good standing, and eventually if left unpaid, your entity will be administratively dissolved by the Governor.

Don’t delay- there’s less than 4 days left to pay!

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