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Every corporation incorporated in the State of Delaware is required to file an Annual Franchise Tax Report and pay the associated franchise taxes. The purpose of this tax is to maintain the corporation’s good standing status within the state.
Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales taxaccounts. State franchise and income taxaccounts. File away R&D tax credit and pandemic aid documentation. Workers’ compensation. New Jersey.
Most states tax personal property owned by businesses and require businesses to complete and file a personal property rendition every year. The exceptions to that rule are Delaware, Hawaii, Illinois, Iowa, Minnesota, New Hampshire, New Jersey, New York, North Dakota, Ohio, Pennsylvania, and South Dakota.
By 3/1: Deal with your Delaware to-dos Since so many tech companies are incorporated in Delaware, we wanted to call out deadlines specific to the state. By March 1, you need to both pay your franchise tax and file your annual report with the Delaware Division of Corporations. Disregard that.
Plus, getting things in order before you go to your accountant can streamline the process, helping you avoid extra expenses like troubleshooting services from your bookkeeper or rush-order billable hours with your CPA. Very few founders enjoy doing their taxes. Delaware Franchise Taxes) Training/education Utilities (e.g.,
If you set up your corporation in Delaware, for example, but you have a New York location, you can still qualify. The post What New York-Based Tech Companies Should Know About QETC Filings appeared first on Shay CPA.
If you set up your corporation in Delaware, for example, but you have a New York location, you can still qualify. Harriman Campus Albany, NY 12227 Phone: (518) 485-2889 Website: [link] The post What New York-Based Tech Companies Should Know About QETC Filings appeared first on Shay CPA.
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