In this video, we will show you how to start an LLC in the state of Delaware. Here's what we will cover:
- The necessary filings and documents you need to open a bank account
- What to do if you get rejected
- Ongoing State compliance
- Tax election options once you have formed your LLC in the state

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Step 1: Delaware LLC Filing - The first thing you need is called the "Certificate of Formation." This is the filing you make with the state to register an LLC in Delaware. It costs $90 and the turnaround time is roughly 10 business days. The effective date is 180 days in the future.

Name Selection - You need to pick a unique name that doesn't match anybody else's. You can't use someone else's name or use the word "Incorporated" in the name of an LLC.

Registered Agent - You need an in-state Delaware address (not a PO Box) where you can accept mail in person from Monday through Friday, normal business hours (9-5). This is a requirement from the state of Delaware and is public on the state's website. For privacy, you can use a third-party Registered Agent like BetterLegal.

Step 2: EIN - An Employer Identification Number (EIN) is the social security number of your business. You need to file for it after you have received approval for your LLC from the state.

Step 3: State Compliance - Once your LLC is approved, you need to file an Annual Franchise Tax every year to keep your business active in the state of Delaware. This costs $300 and is due between January 1st and June 1st every year.

Step 4: Operating Agreement - This is a legal document that outlines the rights and responsibilities of the managers and members of the LLC. It is important to have this document in place before opening a bank account or entering into any business dealings.

Remember to always check with the state of Delaware for the most up-to-date information on Starting a Delaware LLC regarding formation and compliance requirements. It's also recommended to seek professional advice from a lawyer or accountant to ensure you are in compliance with all laws and regulations.