May, 2003

Dear Valued Client:

Delaware's Governor Minner has signed House Bills 267 and 268 altering fees and annual taxes. Tax changes are effective January 1, 2003 and all other changes are effective August 1, 2003. Bills are available for review on the internet at: http://www.legis.state.de.us/Legislature.nsf/fsLIS?openframeset&Frame=Main&S

Almost all fees for filings in Delaware for both corporations and Limited Liability Companies have been increased by varying amounts. For example, the minimum filing fee for a new incorporation, assuming certified copies, 24 hour expedite and the County recording fee, will increase from $162 to $187. The fees to form a new Limited Liability Company (again, assuming the 24 hour expedite and certified copies) will go from $120 to $170. Comparable increases have been made in the files due with every filing or document retrieval.

The annual tax rates - due on March 1, 2004 for corporations and June 1, 2004 for LLCs - have increased as well. A table is laid out below but, in short, the minimum fee for a corporation will increase from $50 to $60 and that for an LLC will increase from $100 to $200.

Any document received on or after June 23, 2003 which voluntarily terminates the existence of a company (ie: merger, dissolution, cancellation, conversion, etc) will be assessed the 2003 tax using the new tax rates.

As always, please call one of our Corporate Specialists at 1.888.664.6263 or 1.845.398.0900 with any questions or requests you may have

The Corporate Specialist team at US Registered Agents, Inc.
clientsupport@usregisteredagents.com
1-888-664-6263
1-845-398-0900