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Not a lawyer advice below. OK so you should not worry about this. Delaware uses Authorized Share Method to calculate franchise tax. With 10 million shares this
by FBISurveillance 8y ago
Not a lawyer advice below.
OK so you should not worry about this. Delaware uses Authorized Share Method to calculate franchise tax. With 10 million shares this ends up being a hefty sum. Instead, you could pay using Assumed Par Value Method and your tax will go down to something like $250/year including penalty.
You can select preferred method while paying this tax online. See https://www.cooleygo.com/so-you-owe-thousands-in-delaware-franchise-tax/ https://www.cooleygo.com/so-you-owe-thousands-in-delaware-fr... for example.