Corporation Annual Report filing
Any corporation that is incorporated in Delaware, irrespective of the actual location where business is conducted, must file a Franchise Tax Annual Report and pay Franchise Tax.
In order to create and submit a Franchise Tax Annual Report for a corporation, complete the following steps:
- Ensure that a Company Record exists for the corporation in Diligent Entities. If not, create one.
- Create a Registration in Jurisdiction entity type for the company (as with for Alternative Entities).
- Create and send a Tax Data Request. This detail will automatically populate the Franchise Tax Data Library.
Note
Ensure that the year used to automatically populate the Tax Data Request and Franchise Tax Data Library is the correct one. For example, A Tax Data Request in 2019 will result in information relating to the 2018 tax year (i.e. by default, the current calendar year minus one year).
- Review the pre-populated detail of the Franchise Tax Data Library and add any further required information.
- Create an Annual Report.
- An Annual Report Pending event is then generated for each corp/company, as well an annual report in working docs. Review this doc.
- eFile the Franchise Annual Report. There will be a delay. If the report is accepted, there is a delay before obtaining a receipt stating that has the report has been submitted and any tax due at this point has been paid. Companies with tax over $5000 will pay this tax via quarterly payments.
Steps 1-3 are the same as those required for eFiling tax for Alternative Entities. The following sections focus on steps 4-7:
