Well - lets see - if you are a LLC or Partnership in Delaware the franchise tax is $200 + a $25 filing fee every year.
If you are a corporation - it depends on which of two methods you use for filing - either the Authorized Shares method which if it is just you and one other person (assuming you have the minimum shares set at 3000 like a normal S Corp would) the franchise tax is $35
If you use the Par value method and assume you issue 1 mill public shares at $1 value your annual franchise tax would be $500 (although I kinda doubt youre company would have over $1 mill in assets of public stock)

In the state I live in the franchise tax is $25 per year.

As far as glamourizing having a company - I would have paid an extra $45000 in taxes this year if I had filed as personal tax vice filing as a company. Sure seems like a little extra glamour to me

these are just franchise taxes, there is also corporate income tax, personal income tax, don't forget corporations must also file at the federal level also. and if you do opt for an s corp the tax you like sole proprietor or partnership wich is on your corporate income on your personal income tax. wich means you still have to pay $45000 mentioned. you also have the many formal requirements for corporations wich include shareholder meetings, board of directors meetings to name a few. wich by the way still must be done even if you are one person that holds alll positions. you also have to a registered agent wich costs money unless you do it yourself and I doubt your qualified for that. all this stuff adds up, this is money that could be going into the biz instead to varois legal entities.

This thread is sinking quick. Someone call the coast guard!

Alex

No no - dont bother the Coast Guard - theyre really busy protecting our ports from takeover by AlQaeda companies (ooops I mean terrorists)

|ufo|