You might be wondering how much it will cost to rename your LLC if you own a business in Delaware. The process is simple and reasonably priced, which is wonderful news. The cost of renaming an LLC in Delaware is $200. The Delaware Division of Corporations must receive payment of this fee together with the required documents.
You must submit a Certificate of Amendment to the Delaware Division of Corporations if you want to rename your LLC there. You can submit this form electronically or by mail. Your new LLC name and the explanation for the change must be entered into the form. The Division of Corporations will review the application after the form is filed and the fee is paid, and they will then issue an updated Certificate of Formation.
It’s vital to remember that the procedure for changing the name is different if your LLC is a Delaware C Corp. The Delaware Division of Corporations requires a C Corp to file a Certificate of Amendment, however there is a $250 filing cost. The Division of Corporations must also receive a copy of the C Corp’s updated bylaws.
The procedure is the same if you require an amended certificate for a reason other than changing the name of your LLC. A Certificate of Amendment must be submitted to the Division of Corporations along with the required fee. You will need to fill out the form and explain why the LLC’s governing documents need to be amended as well as any necessary revisions.
Despite the fact that Delaware is a popular state for business formation, there are a few reasons you might want to steer clear of creating an LLC there. The yearly franchise tax is one of the causes. A yearly franchise tax, based on the total number of authorized shares of stock, is imposed on Delaware LLCs. This tax can be substantial, particularly for larger businesses.
In conclusion, it costs $200 in Delaware to modify an LLC’s name, compared to $250 for a C Corp. A Certificate of Amendment must be submitted to the Delaware Division of Corporations along with the necessary fee. You’ll use a similar procedure if you need to modify your LLC in other ways. Although Delaware is a well-liked state for business formation, certain enterprises could find it less desirable due to the annual franchise tax.