One of the most important issues after the establishment of a company in the US is taxation. No matter where in the world you have your company, it is very important whether you fulfill your tax responsibilities. Delaware is one of the most advantageous states in the US in terms of taxes. A company incorporated in Delaware but doing business in another state does not have an income within the state. Thus, it is exempt from state tax requirements. Such companies only have to pay the Franchise Tax, which is a fixed amount.
Taxes in America
Franchise Tax and Payment Dates:
The Franchise Tax is the fee imposed by the state of Delaware for the right or privilege to own a Delaware corporation. The tax has no impact on income or the company’s activity.
The due date of the tax differs depending on the type of company.
A company’s Franchise Tax is due by March 1 each year. If the tax is not paid on or before March 1, the state charges a $200 late penalty and a monthly interest fee of 1.5 percent.
The Delaware LLC’s Franchise Tax is due by June 1st of each year. Limited partnership (LP) Franchise Tax is also due by June 1 each year. If the tax is not paid on or before June 1, the state charges a late payment penalty of $200 and a monthly interest charge of 1.5 percent.
If you do not want your company to be invalidated by the Delaware Division of Corporations, you must regularly pay the Delaware Franchise Tax and actively maintain a Legal Representative in Delaware.
If you do not fulfill all these requirements, your company may face a formal dissolution. For example, if your Delaware LLC fails to pay the Franchise Tax for three consecutive years, the State of Delaware will require your company to liquidate.
The same applies to your Delaware Corporation. If you fail to pay your Delaware Franchise Tax for two consecutive years and fail to file the required annual report, the State of Delaware will require the dissolution of your company.
- Making Sales Tax payments
- Quickbooks clean up
- 1040, 1040NR, 1040EZ, 1040ES
- Forms 1120, 5742
- Provides ITIN & EIN Application services.
Incentives in America
- Trademark Registration and Advertising in the USA is supported 60% of the activities for companies that benefit from government support and have a branch office. This support is covered up to a maximum of 150.000 Dollars.
- For companies that benefit from Trademark Registration and Advertising government subsidies in the USA and do not have a branch office, 60% of their activities are supported. This support is covered up to a maximum of 250.000 Dollars.
In order to benefit from advertising, promotion and marketing support, companies must have a trademark registration certificate in Turkey. In the country of promotion, they must have or apply for a trademark registration certificate. This support can be utilized just like rent support. It is valid for a maximum of 4 years. Advertisements to be given to domestic media organs, Turkish media organs broadcasting abroad and media organs broadcasting in Turkish are not covered by this support.
Companies with a trademark registration certificate in Turkey will need to make some expenses to register and protect their trademarks abroad. 50% of these expenses related to trademark registration abroad are supported up to a maximum of 50,000 USD. This support can be utilized for a maximum of 4 years.
Companies that do not have a trademark registration certificate in Turkey at the time of the support application must obtain this document during the support application.