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Additionally Illinois states that each series is a separate entity, whereas Delaware is silent on whether each series is a separate entity. Most states with the series LLC have followed the Delaware model, rather than the model in Illinois which requires each series to be designated with the Secretary of State. [citation needed]
Delaware charges a franchise tax on the corporations incorporated in it. Franchise taxes in Delaware are higher than in most other states which typically get revenue from corporate income taxes on the portion of the corporation's business done in that state. Delaware's franchise taxes supply about one-fifth of its state revenue. [17]
The Secretary of State of Delaware is the head of the Department of State of the U.S. state of Delaware. The Department is in charge of a wide variety of public and governmental services, and is divided into the following divisions:
Delaware's economy shifted to a manufacturing base in the late 19th century, led by the transformation of the DuPont Company. [1] Modern growth in the financial workforce has overtaken the manufacturing sector in the state's economy. The Delaware General Corporation Law provides a flexible and stable framework for national incorporation. [2]
The state of Delaware is the place of incorporation for over 60 per cent of Fortune 500 corporations. [15] In 1999, from 6,530 publicly traded nonfinancial firms in the US, 3,771 (57.75%) were incorporated in Delaware, 283 (4.33%) in California, and 226 (3.46%) in New York. [16]
In the USA, a business entity which is either registered with or chartered by a government agency such as a corporation, limited liability company, limited partnership, limited liability partnership, or limited liability limited partnership is said to be in good standing if it has filed and continued to file all appropriate paperwork with the government agency which provides its charter, and ...
Slovenian Business Register (ePRS) [246] — maintained by the Agency of the Republic of Slovenia for Public Legal Records and Related Services (AJPES). ePRS includes companies (partnerships and corporations), sole proprietors, legal entities governed by private law, societies, natural persons performing registered or regulated activities ...
Illinois established a new type of entity called the "benefit LLC", making the state the first to allow limited liability companies the same opportunities afforded to Illinois corporations under the state's benefit corporation law. [14] [15] Washington created social purpose corporations in 2012 with a similar focus and intent. [16] [17]