FAQ

Is Chesspin Enterprises a non-profit agency? A government agency?
Chesspin Enterprises LLC is a for-profit company chartered in the State of Delaware. We are not a government agency.

Why would I choose your services over that of my lawyer or accountant?
Our services are not intended to be a substitute for legal and financial advice. Our services are complimentary to theirs. In fact, they regularly send us referrals.

Should I incorporate?
Everyone’s situation is unique and this question is best answered by a lawyer or accountant. If you make the decision to incorporate, we can help you with the process.

Why do people incorporate in Delaware?
Delaware has long been regarded as one of the best places in the world to incorporate your business. The jurisdiction you incorporate in largely governs your company’s internal affairs. Delaware’s business-friendly laws and court system have set precedent in many other states, the US federal government, and even other countries.

Are businesses incorporated in Delaware subject to the state’s income tax?
Businesses are not subject to taxes in Delaware (except for the franchise tax) on income unless it is earned from sources or activities within the state. However, if the company is subject to pass-through taxation (such as an S-Corp or LLC) and one of the owners is a resident of Delaware, then that share of the business revenues would be subject to that specific person’s state income tax.

What is the New York publication requirement for LLC’s?
New York State requires LLC’s (but not corporations) to publish the filing of their charter or out-of-state qualification in assigned newspapers that vary by county. This requirement does not extend to corporations. The costs for such publications vary widely and tend to be more expensive in and around New York City. For an example of what the publication looks like, check your local paper or legal journals. There is currently a bill in the New York State Senate to repeal this law, and a hearing is scheduled for it on March 2, 2012 (S437-2011).

Last Revised: 2/21/2012