A corporate resolution is a legal document defining which individuals are authorized to act on behalf of a corporation. The form and structure of this document varies depending on the state in which the corporation is organized.
* (Source wikipedia.org)
If for some reason you need to cancel your LLC, it’s a good idea to fill out the formal paper work to cancel the company. If the LLC isn’t formally dissolved then it continues to incur annual franchise fees and penalties, including interest.
For information on canceling an LLC please see the State Registration office’s site for details:
It’s a good idea to keep the following information on file at all times:
Although keeping minutes (a record of decisions made at meetings), is currently not required, many professionals strongly advise that you should keep the minutes of all meetings. Doing so provides greater protection for you and your company.
Even if you are a one person company, you should still write out a record of major decisions that have been made on behalf of your company.
Below are sample minutes your can download and customize for your own company.
In certain cases, Delaware requires that you obtain a business license and pay a licensing fee based on the nature of your business. You will need to contact the State directly to find out if your line of business requires a license. You can email their support at: DOSDOC_WEB@state.de.us
Delaware LLCs are required to pay an annual franchise tax fee of US$200 and file an annual report (this is in addition to paying your registered agents fee).
This fee is to be paid by June 1st of each year. Failure to pay on time will cause you to be fined plus pay interest. Your registered agent will send your notice to pay well before the deadline. If for some reason you haven’t received your notice by May 1st please email us immediately support@myUScompany.com
Also, make sure you have filled in the following form that provides us with your company details…
One of the first things you should do once your LLC has been formed is to have a meeting to create your operating agreement.
What is an Operating Agreement?
Simply put, an operating agreement is the document that details the rights of each member of the LLC and outlines the rules for running the company. Although the State of Delware doesn’t require you to have an operating agreement it’s a good idea to still have one. If you don’t have an agreement, then the rules governed by the State will apply to your company by default.
Downloadable Sample Operating Agreement
Below is a link to download a sample operating agreement. You should customize it for your use and we recommend you have a lawyer view your final draft.
Just right click and then “save as” on the link below, to save the document to your computer.
Note: If your LLC will be managed by someone else other than the members of the company, then you should also have a “Management Operating Agreement,” which details the rules and obligations of management.