Delaware S-Corporation Status – Kit

Bahman Eslamboly

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An S-corporation is recognized by the Internal Revenue Service but is treated differently than other corporations in terms of federal taxation. S-corporations are taxed in the same way as partnerships and the corporation itself does not pay a corporate tax. Any taxable profits of an S corporation fall to the individuals who own shares in the corporation. This S-Corporation Status Kit contains important information regarding S Corporations.

This S-Corporation Status Kit for Delaware includes the following:
  • Notes and Requirements for S-Corporation Status
  • S-Corporation Checklist
  • Notice of Special Shareholders Meeting Regarding S-Corporation Status
  • Affidavit of Mailing of Notice of Special Shareholders Meeting Regarding S-Corporation Status
  • Waiver of Notice of Special Shareholders Meeting Regarding S-Corporation Status
  • Minutes of Special Shareholders Meeting Regarding S-Corporation Status
  • Resolution of Shareholders Regarding S-Corporation Status

Protect Yourself and your Business by using our professionally prepared up-to-date forms.

This attorney-prepared packet contains:
  1. General Information
  2. S-Corporation Status Kit for use in Delaware
State Law Compliance: This form complies with the laws of Delaware

Delaware S-Corporation Status – Kit

Product Details

Product Delaware S-Corporation Status – Kit
Country United States
Pages 11
Dimensions Designed for Letter Size (8.5" x 11")
Printer compatibility Designed to print on all ink-jet and laser printers
Editable Yes (.doc, .wpd and .rtf)
Format Microsoft Word
Adobe PDF
WordPerfect
Rich Text Format
Platform Windows Compatible
Mac Compatible
Linux Compatible
Availability In Stock. Instant Download
Usage Unlimited number of prints
Category S-Corporation Status
Product number #40192
Download time Less than 1 minute (approx.)
Document Access Via secret online address
Email with download links
Email with attachment upon request
Refund Policy 60 days, no-questions asked, 100% money back guarantee

Frequently Asked Questions

An S-Corporation is a special type of corporation that meets specific Internal Revenue Code requirements, allowing it to pass income directly to shareholders, thereby avoiding double taxation on corporate income.

To qualify for S-Corporation status in Delaware, your corporation must meet certain criteria, including having no more than 100 shareholders, all of whom must be U.S. citizens or residents, and only one class of stock.

The kit includes essential documents such as a checklist, notice of special shareholders meeting, affidavit of mailing, waiver of notice, minutes of the meeting, and a resolution of shareholders.

This kit is specifically designed for use in Delaware and complies with Delaware state laws. For other states, you will need to obtain the appropriate forms that adhere to their specific regulations.

Electing S-Corporation status allows the corporation to avoid federal corporate income tax, as income is passed through to shareholders, who report it on their personal tax returns, potentially lowering overall tax liabilities.

Is This Form Right For You?

Use This Form If:

  • Individuals who are starting a new business in Delaware may need this S-Corporation Status Kit to ensure they meet the necessary requirements for S-corporation status, which can provide significant tax advantages compared to traditional corporations.
  • Situations requiring a change in the tax status of an existing corporation can benefit from this kit, as it includes essential documents and guidelines for transitioning to S-corporation status, which can help in optimizing tax liabilities.
  • For those looking to hold a special shareholders meeting to discuss the S-corporation election, this kit provides the necessary templates and affidavits to ensure compliance with Delaware state law and proper documentation of the meeting.
  • Entrepreneurs seeking to understand the implications of electing S-corporation status will find this kit invaluable, as it outlines the benefits and responsibilities associated with this business structure, aiding in informed decision-making.
  • Business owners wanting to maintain compliance with state regulations can utilize this kit to ensure all required notices and resolutions are properly executed, thus protecting their business from potential legal issues.

Do Not Use If:

  • This form is not appropriate for corporations that do not meet the eligibility requirements for S-Corporation status, such as having more than 100 shareholders or including non-resident aliens as shareholders.
  • If your business is structured as a sole proprietorship or partnership, this kit will not apply, as it is specifically designed for corporations seeking S-Corporation status.
  • In cases where a corporation is already classified as a C-Corporation and does not wish to change its tax status, this kit is unnecessary and irrelevant.
  • Businesses that are not incorporated in Delaware should refrain from using this kit, as it contains state-specific forms and guidelines that may not comply with the laws of other states.

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Package of the most frequently used forms to start a corporation for use in all states.

Product Laws

S-Corp Information - Delaware

Address of state corporation department:
Delaware Department of State
Division of Corporations
401 Federal Street, Suite 4
Dover, DE 19901
Telephone: 302-739-3073
State web address: http://www.delaware.gov/
State law reference: Delaware Code, Title 8, Chapter 1.
Title of filing: Certificate of Incorporation.
Filing Fees: $89.
Other fees: None.
Name reservation: Reservable for 120 days for $75 fee.
Name requirements: Association, Company, Corporation, Club, Foundation, Fund, Incorporated, Institute, Limited,
Society, Union, Syndicate, or abbreviation. (Section 102).
Incorporator requirements: One or more persons or entities (need not be residents). (Section 101).
Corporate purpose requirements: General “all purpose” clause (see instructions). (Section 101).
Director requirements: One or more (may be nonresidents). (Section 141).
Paid-in capital requirements: None.
Annual report requirement: Yes, to Department of State, with filing fee of $25. Annual franchise tax report
required, with minimum tax of $35. (Section 502).
Publication requirements: None.
Other provisions: If the powers of the incorporator or incorporators terminate when the Certificate of Incorporation
is filed, the Certificate must include the names and mailing addresses of the persons who will serve as directors
until the first annual meeting of stockholders or until their successors are elected and qualify. (Section 102).

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