Delaware Franchise Tax 101
Harvard Business Services explains when and why every Delaware LLC and corporation must pay an annual Franchise Tax to maintain a good standing status with the state of Delaware.
In this context, "franchise" means the privilege given by the state to have an entity filed with them here in Delaware. The franchise tax is the annual fee you pay for that privilege as part of your Delaware annual report.
If you have a corporation, your franchise tax is due by March 1st every year and if you have an LLC, your franchise tax is due by June 1st every year.
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