Why June 1st Is an Important Deadline for Delaware LLCs
If you have a Delaware Limited Liability Company (LLC), series LLC or Limited Partnership (LP), then the date of June 1 is critical to your business entity. June 1 is the deadline for paying your company’s annual Franchise Tax fees.
It is important to note that June 1, 2024 is a Saturday and the state of Delaware will not extend the deadline. All LLC/LP Franchise Tax payments need to be made by this due date.
Please note that this assessment only applies to companies formed in the previous calendar year or earlier. For any LLC/LP filed during the current calendar year, the $300 Delaware Franchise tax is due June 1st of next year for the first time.
Every LLC and LP formed in the state of Delaware is required to pay the annual Franchise Tax in order to be compliant. The minimum amount due for the Franchise Tax is $300 per entity, per year. If the Franchise Tax filing is not received by the June 1 deadline, the state of Delaware will automatically add a $200 late penalty, plus 1.5% interest per month.
Also, any Series LLCs associated with the main entity are also required to pay an annual tax on June 1st. These taxes are separate and in addition to the tax on the main entity and start at $75 for each additional series LLC or business entity. These can also incur a $75 late fee, plus interest if the payment is not made on time.
We offer a service to assist with the filing of your annual Franchise Tax for an additional fee. Please be conscious of the June 1st Franchise Tax due date, as you may need to submit your payment soon. You can pay quickly and easily on our Payments page.
Every year we process thousands of Franchise Tax filings with the state of Delaware in a timely manner. In order to accomplish this, we must enforce a strict deadline. This allows us to accurately process all filings in our possession before the state’s deadline.
Here's how our deadline processing typically works:
- For several days leading up to the June 1st deadline, our office will be accepting Franchise Tax payments online, via fax, email or telephone during regular business hours.
- On June 1st, we will only be able to accept payments online until 8 pm EST.
If you are unable to make your Delaware Franchise Tax payment during our noted hours, your Franchise Tax filing will need to be paid directly through the state of Delaware’s website. You will need to contact their office directly in order to make your payment. Their contact details are:
Website: corp.delaware.gov
Telephone: 302-739-3073
If you have any questions about LLC/LP Franchise Tax or the deadline, please call our office at 1-800-345-2677 or 1-302-645-7400, Ext. 6904. You can also email your questions.
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such sources content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.
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There are 3 comments left for Why June 1st Is an Important Deadline for Delaware LLCs
Gurbinder Singh said: Wednesday, June 3, 2020Hi I missed 1 june as franchise payment deadline date. Is there a waiver for couple of days to pay now.?
HBS Staff replied: Wednesday, June 3, 2020The franchise tax fees are imposed by the state of Delaware and not Harvard Business Services, Inc. Unfortunately, we do not have the ability or authority to waive any fees imposed by their office.
You can certainly contact them directly to see if there is anything they can do to assist you. Their phone number is 302-739-3073.
Samuel Chibuike said: Wednesday, May 20, 2020Please does the June 1 Tax applies to non-us llc owners?
HBS Staff replied: Wednesday, May 20, 2020If the company is a Delaware LLC and it was formed in 2019 or earlier, then the deadline of June 1, 2020 applies, regardless of where the owner is located.
Hanzal Green said: Wednesday, May 29, 2019Is it as simple as calling the office and paying by credit card?
HBS Staff replied: Thursday, May 30, 2019Hanzal, yes, we would happy to assist you by phone. You can reach us at 1-800-345-2677, extension 6904.