Many groups and individuals see valuable trading opportunities in this business-minded state. Still, future Delaware-based corporations should be aware of the success rate for their type of business there.
The bottom line is, if you are running a small-scale business, Delaware may not be the best place for you - but if yours is a large corporation or LLC, it may be a smart move to either form or transact your business in Delaware. Let's look at some of the potential advantages and disadvantages of doing business in this state.
What are the advantages?
While evaluating your business venture's total cost, as formed in Delaware, you must be careful to include any transactions with other states. For transacting with other states, you need a foreign qualification for the company in each respective state of the transactions. It's a sort of registration required to start any kind of business in a state other than the state of formation. If your employees are located in another state besides Delaware, you may also be required to file for a foreign qualification in that state.
If you're thinking of Delaware as the state of your business formation, then consider the overall cost of transacting the business in states other than Delaware before starting your business.
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