Annual renewal of a Delaware LLC in 2024

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Since 2003, Healy Consultants Group helps international Clients timely complete their annual Delaware company renewal. Leveraging our in-house accounting and tax team’s 15 years’ expertise, we successfully assist international Clients file annual accounting and tax returns for global businesses.

• Delaware LLC renewal steps

  1. On or before the anniversary date of company incorporation our Client will sign Healy Consultants Group’s re-engagement letter and settle our Delaware LLC renewal invoice fees;
  2. Within a month of accounting year-end, our Client will supply Healy Consultants Group with a trial balance and/or Profit & Loss statement and Balance Sheet;
  3. Within a month of 2., Healy Consultants Group will e-mail our Client i) draft financial statements for the Delaware LLC and ii) draft annual statutory return;
  4. Together with our Client, our Firm will legally minimise USA and international tax and secure an exemption from an independent statutory annual audit; and
  5. Within a month of 4., Healy Consultants Group will timely submit to the Delaware Division of Corporations an accurate and complete statutory annual return;
  6. Simultaneously, our in-house Accounting and Tax Department will pay the annual Delaware government franchise tax to the Delaware Division of Corporations.

• Fees

  Healy Consultants Group Delaware company renewal fees:

  Annual professional services	Annual fee (US$)
  Registered agent and legal registered office	1,400
  Delaware Government renewal fees	300
  Accounting and tax fees for a dormant company	1,200
  Accounting and tax fees for an active company	2,700
  Application of personal tax ID (ITIN) for business owner in Delaware (for non-US citizen / non-US permanent resident only)	750
  Filling personal tax return (declaration) for Delaware business owner (for non-US citizen / non-US permanent resident only)	2,500

• Accounting and tax considerations

  • A Delaware LLC is legally exempt from USA corporation tax;
  • There is no state or sales tax in Delaware. However, Gross Receipts Tax is imposed on total receipts of a business received from goods sold and services rendered in Delaware;
  • Foreign business owners who are neither US citizens nor US permanent residents must file a personal tax return (declaration) together with company activities disclosed;
  • Foreign business owners filing tax declarations for the first time must apply for a personal tax ID (ITIN). The TIN application can be submitted along with the tax declaration.

• Legal and compliance considerations

  • A corporation incorporated/registered in Delaware is subject to annual franchise tax and Gross Receipts Tax to the Delaware Division of Corporations;
  • Franchise tax is calculated based on the number of authorised shares in the corporation.

• Personal tax filing

  • A local Delaware LLC’s income or loss is passed through its business owner. The business owner will be required to declare the company’s income or losses as an individual Personal Tax Return.
  • To file a personal tax return, the business owner must have a personal tax Identification Number (ITIN). Non-residents who do not have a valid Social Security Number must use the ITIN. An ITIN application can be submitted simultaneously with the tax return.
  • If the LLC has no presence in the USA (e g office, warehouse, employees etc.) and none of its income is generated from activities in the USA, it Is possible that the Client will have no personal tax liability in the USA. However, reporting obligations still apply.