Add Date To Legal Delaware Startup For S-Corporation Forms For Free

Forming an S corp in Delaware is relatively affordable with a $90 fee to file your LLC Certificate of Formation with the Delaware Division of Corporations. To maintain your S corp, you'll need to pay another $300 each year for Delaware's annual franchise tax.

Yes. The state of Delaware requires businesses to file a Federal Form 7004 rather than requesting a separate state tax extension. State Tax Extension Form can be filed only if the federal tax extension Form 7004 was rejected.

Who Must File? 1. Non-Residents ? File a tax return if you have any gross income during the tax year from sources in Delaware. If your spouse files a married filing separate return and you had no Delaware source income, you do NOT need to file a Delaware return.

Delaware automatically grants 6 months extensions on filing corporate income tax returns if a federal extension is filed. If a payment is due you will need to file Form 1100-T-EXT with accompanying payment (if applicable). This is an extension to FILE, not an extension to PAY ? payment is still due April 18, 2023.

Form 1120 is the US corporation tax return. It's one of the most detailed and complex tax returns you can file as a Delaware corporation, but filing it correctly is essential. Failure to file or complete Form 1120 correctly can result in hefty penalties and other unwanted consequences.

Thus one of the benefits of an S corporation in Delaware is that it has all of the benefits of a Delaware corporation but with a different tax status. Comparing Delaware S-Corps vs C-Corps, S-Corp losses are passed through to the shareholders, who are protected from double taxation.