Located on the Atlantic coast, halfway
between New York and Washington D.C., Delaware is one of the
smallest states in the US both in terms of its area and population.
However, it is a major US corporate domicile: more than 380,000
companies are incorporated in Delaware including 60 percent
of the Fortune 500
and 50 percent of the companies listed on the New York Stock
Exchange.
The year 2000 amendments to the Delaware Corporate Law afford
corporations great flexibility in the use of Internet and other
high-tech facilities: virtual meetings of directors or shareholders
may bear the same legal force as personal ones.
The US federal tax system facts: General C Corporations
formed in Delaware pay a 15% federal rate on the first $50,000
of taxable income each year. The deductibles are medical and
dental expenses, health insurance and disability insurance premiums
for the employees. Shareholders may be hired by their own corporation. Delaware tax system facts: NO sales tax, NO intangible
property tax
The Delaware corporate and franchise tax is minimal and is not
based on earned income. The best corporate tools in the Delaware state: Delaware
Corporation (DC), Limited Liability Company (LLC)
