The General Idea

For males, you should at least come in slacks and a button-up shirt that is buttoned. Tucked in would be preferable to left hanging, but it is not a highly important factor. Full suits with ties are the most formal one should wear.

For females, a conservative dress is typically seen as acceptable. Pants and blouse are also an option, similar to the male outfit.

For both genders, jewelry should be kept to a minimum, and do not go overboard on cologne or perfume.

Interviews: The Beginning

How you appear in front of an interviewer can indicate the perception you have of their business. For example, if someone were to appear to a scheduled interview in sweatpants, an attention getting shirt, and no care taken with regards to hair, then the interviewer is likely to assume you did not put much effort into your preparation.

Some people have the misconception that you need to be extravagant and make an impression in order to get hired. While it is good to be noticed, going overboard is very easy to do. Use your words, resume, and the interview to make the impression, instead of opting for an extreme outfit that is more likely to have the interviewer call the cops than their boss.

Others believe that conforming to the standards of business or society is compromising themselves as a person. If you have long hair and bear, then you do not need to go and get a standard haircut and be completely clean shaven. Instead show that you at least care about the impression you make by styling your hair in a conservative manner and careful grooming. This would allow such a person to keep their general persona while achieving a suitable business appearance.

Continue the Trend

Once you have established your dedication and professionalism, you may not have to dress the same way for that business every time you go to work. This may make it seem like your efforts were just to conform to an unspoken standard, and that is because it is the truth. If your job does expect the appearance daily, it will be up to you to maintain a presentation of decorum and sensibility.

Information and Influence

To understand the importance of networking, you need to understand the benefits it gives you. The benefits of information and influence can be extremely helpful. A business contact may alert you to an upcoming opportunity for employment. Most applications will request references, and a good business contact looks much better than your best friend or spouse’s brother. A great contact may even be able to directly impact your business ventures. It is difficult to comprehend the volume of social links between people, so it is fair to assume that established people in the same field and in the same area have some sort of link.

The Internet Is Your Friend

The best networking tool is obviously going to be connected somehow with the largest technological network. The Internet is pervasive throughout the world and all types of businesses, so it is highly probable that single search engine result will bring you to dozens of websites related to your field. Pay particular attention to any sites that have a high volume of discussion, such as forums or message boards.

Person to Person

Ultimately, a meeting in person is the best way to begin to connect with a person. The trick is knowing when and how to go about making contacts. Finding someone online and going to their house is not the correct method. Instead, look for local group events related to your business field that have open admissions. For example, if you are selling landscaping equipment, then attending a local realtor conference might provide opportunities to meet with people in a setting where they are prepared to socialize and network.

People are almost always looking to make new contacts in the professional world. With perseverance and knowledge it is only a matter of time before you are able to begin establishing a network of contacts.

1. Self-assess

What do you see when you look in the mirror? Are you aware of your strengths, your weaknesses, and what you’re actually interested in? There are a good many people engaged in careers that they originally thought were interesting, but they later realized that they weren’t very well suited to them or that the careers were not as interesting as they once thought. Write down what you actually do in one column, and then look at what you really want to do. How do you get from point A to point B? Unfortunately, sometimes the shortest distance between two career paths can mean a lot of research and time in the field learning about the career through hard-won experience.

2. It’s all in the research

So, you want to find out more about the career of your dreams? Start asking good questions. Chat with the human resources department in your company or in others; do some online research; visit your local employment center and attend some workshops about the current employment landscape in the field you’re interested in. You might also consider taking a career aptitude or assessment test in order to determine which career you’re best suited for. Not everyone is cut out to be doctors, and you may find needles aren’t your thing. So, where does that leave you? If you’re that interested in working in the medical profession, you may find that a career as a radiology technician is more suited to your personality. Not only that, you might consider even talking to people in your preferred field. They are, after all, the ones with actual field experience – who better to ask about the career you want to move into?

3. Make your move

You’ve laid all the groundwork, done all the research and finished what you want to think of as your last few files. Now’s the time – leave your desk (or position) you’ve been working at with varying senses of fulfillment and move towards your preferred career. You wanted it, and you worked hard for it; now’s the time to show that you’re ready.

There are three ways you can incorporate your business:

1. Hire a lawyer (this is the most expensive option)
2. Do it yourself by walking in to the State Department (not recommended unless you have experience)
3. Hire a professional incorporation company (many people choose this option but it’s not mandatory)

The state of Wyoming offers significant incorporation benefits, different from other states. Here are seven compelling reasons to choose Wyoming over any other state.

No Licensing or Filing Fees

Unlike other states, Wyoming does not charge licensing or filing fees to complete the incorporation process. You also won’t find any hidden fees after you file, as you do in other states where they hit you with a $125 filing fee 30 days after you incorporate which they don’t tell you about upfront. This means that your overall start up costs can be greatly reduced. The state renewal fee is only $50, which means your ongoing costs will be reduced as well.

Asset Protection

Corporations in Wyoming offer a higher degree of asset protection against creditors and disgruntled clients with overzealous attorneys. You and your officers don’t have to worry about losing your home, car or other personal assets. Wyoming has had LLC, limited liability companies, available since 1977, and its laws were updated in 2010 in order to stay current with the times. They have the most stringent laws in place in order to protect LLCs and their assets.

Citizenship Not Required

In order to incorporate your business in Wyoming you do not need to be a U.S. citizen. In fact, you can be located anywhere in the world. It should be noted, however, that there are certain exceptions to this rule. Certain countries, including Cuba, Zimbabwe, Iran, North Korea, and Burma are not eligible for incorporation of a Wyoming business. Also, if you need a U.S. bank account, you must physically visit the U.S. so they can verify your ID. There are no extra fees involved with incorporating even if you live outside the U.S.

No State Taxes

Wyoming is one of the few states that do not require corporations to pay state taxes. Think of how much money this will save you each year. The potential is a savings of thousands of dollars. You could use this extra money to put back into your business or to give your employees a bonus. Wyoming is one of the only states that have a budget surplus. There have never been state taxes on corporations here, and there likely never will be. Other states’ lobbyists are fighting hard to impose taxes there and it will happen sooner rather than later.

Privacy

Unlike other states, there is no requirement in Wyoming for the manager or LLC members to be entered into a public database. Your privacy is protected and ensured when you incorporate your business in Wyoming. The bottom line: your private and personal information will not be made available to the public. Nominee officers are not required to be listed, ensuring an even greater level of privacy.

Easy to Move

If you are already incorporated in your home state and you would like to move to Wyoming, you don’t have to worry because Wyoming makes it easy to move and is one of the only states that allow this. There are some restrictions, including:

* The date for your renewal in your home state must be more than 6 weeks away from the time you start the moving process.

* There may be a fee you must pay to your state for dissolving the company there.

Wyoming is considered one of the most “business friendly” states, due to the reasons above, and the fact that the incorporating process is very simple and straightforward. Any business can incorporate in Wyoming, but among the most popular are those that don’t actually have brick and mortar buildings. That is, they are service businesses, home businesses, or internet businesses. Just about any industry can become incorporated, including catering, restaurants, marketing, and even hair barrette makers..

There are certain rules associated with incorporating, such as annual meetings and number of shareholders, among others. It’s important that you understand all of the rules and guidelines associated with owning a corporation regardless of which state you file in. Do your research both online and offline, and talk to others who have incorporated. Get their input on the advantages and disadvantages. It’s not as difficult as some lawyers make it out to be, but there are certain guidelines that must be adhered to. Once you incorporate your business, you will have many cost advantages and will be able to save thousands on your taxes and other fees. This will increase your bottom line and put more money in your pocket. And isn’t that what owning a business is all about?

In addition, you don’t have to live in Wyoming at all to incorporate your business there. You can communicate by telephone. And for operational ease, one person can hold all director and office positions. Finally, a unique Wyoming procedure known as “continuance” means that out of state companies can become Wyoming corporations without having to move their operations.

Best of all, perhaps, Wyoming is one of the few low-cost incorporation states. You can do it yourself, or have it done for you relatively inexpensively.

Why Incorporate At All?

Incorporation reduces personal liability. Otherwise, law suits against sole proprietors and partnerships can mean the loss of homes, cars, and other personal assets like savings. There is unlimited personal liability in those cases. The shareholders of a corporation, by contrast, can usually only lose the money they put into the company and no more. Personal assets cannot be touched.

So incorporating helps make you as a person different from that of your business. Sole proprietors and partners are subject to claims of unlimited personal liability for business debt or law suits against their company. Creditors of the sole proprietorship or partnership can bring suit against the owners of the businesses and can move to seize the owners’ homes, cars, savings or other personal assets. Once incorporated, the shareholders of a corporation have only the money they put into the company to lose.

Here’s the information you need to incorporate in Wyoming:

Director and Officer Information

You need a minimum of one or more directors. You don’t have to disclose residences or ages. Directors must be listed in the articles of incorporation. Officers do not have to be listed there.

Stock Information

There are no filing fees based on the amount of shares or amount of their value.

Yearly Requirements

You will need annual statements computed on Wyoming assets.

The license tax is based on the corporation’s Wyoming capital, property and assets as follows:

$50,000 or less — $25 from $50,000 up to $100,000 — $50 from $100,000 up to $500,000 — $100 from $500,000 up $1,000,000 — $200.

The maximum annual license tax cannot exceed $50,000 per year. And, of course, there is no income tax at all.

The Close Corporation

The Close Corporation is considered to be a Wyoming business advantage. It was created especially for small corporations with few stock holders who are usually related to one another.

Unlike traditional business corporations, which must:

• Conduct shareholder and director meetings
• Elect a board of directors
• Provide shareholders with written proposals for any major corporate action to be voted on in the annual meetings

Family corporations don’t have to do any of these things. They often make important decisions at home. They do not require a Board of Directors or detailed paperwork for daily operations. The Wyoming Close Corporation Law allows small corporations to forgo many traditional corporate processes.

Advantages of the Close Corporation

• Limited liability
• Ease of operation
• Costs reduced for legal, accounting and administrative fees

Disadvantages

There are few disadvantages, as small and medium business which use this structure are delighted with the flexibility it gives them. However, they might have a problem with limited ownership transfer, which is prohibited except for stated circumstances.

Don’t forget:

1. Make sure your choice of company name is available. File all the initial paperwork with the Wyoming Secretary of State in the State’s filing office. These include the “Articles of Incorporation.”

2. Adopt the company’s Bylaws at an Organizational Meeting.

3. Obtain a Federal Employer Identification (FEIN) for your corporation and open a company bank account.

4. Get a local business license from the city or county where you will be doing business.

More Advantages to a Wyoming Incorporation

Privacy

No information on shareholders is collected or shared with the IRS. Nominee officers and directors can be used to enhance privacy.

Asset Protection

Wyoming has perhaps the strongest asset protection laws in the country with only minimum formalities.

These laws are designed to protect people from fraudulent or greedy creditors who would attempt to deplete their assets without cause. It is said that “every three seconds another American is sued.” Most of these claims are frivolous, aiming only to harass and squeeze money out of innocent people. It is often too late to take steps to protect your assets once you have been sued.

With incorporation, you are shielding your personal assets from business risks. You are protecting your home and bank account from claims against your business. This is much better than using a sole proprietorship which offers no asset protection.

Low Cost Incorporation

Compared to other states, it is inexpensive to incorporate in Wyoming. The filing fees are minimal, usually less than $100.

Maintenance Costs

Wyoming has one of the country’s lowest annual fee structures. You may pay as little as $50 annually to continue your non-resident Wyoming entity if you and your employees do not live in the state.

Low Capitalization

Wyoming has no minimum capitalization requirements. Some states, such as Texas, insist that you put at least $1,000 into your entity on formation. However, in Wyoming you don’t have to pay extra filing fees for unlimited numbers of shares.

1. A Social Media manager is human

It is often tempting to become too enamored or to angry at the users of social media. This is because you are human. Remember this little detail and the social media life will go much smoother. When angry, take a step back and don’t communicate via any media sites for a bit. When infatuated with a user or a product, be careful that preferential treatment doesn’t virtually bleed through. The relative anonymity of the internet can both help and hinder a social media manager. Just remember to use the same rules of business as you would in dealing with someone in person.

2. Treat Social Media users with respect

It is best not to assume the worst about the users of social media. There will always be people who use the anonymity of the internet to post outrageous subject matters on social media sites. Treat these outbursts as an exception to the rule, not as something common to all users. Remember that all users are either current customers or potential users of your company’s product or service. Treat these social media users well and this will reflect on the company as a whole.

3. When off work, stay off work

It is a good thing to separate work life and personal life. This is especially true for anyone that is in the public eye in any way, including social media managers. Many that start working in social media want people to treat them as part of the company even during the off hours. They will convert their private twitter, Facebook, and other social media pages in to another link to their company. Resist this urge. Remember that you are part of the company even in off hours, but don’t let your personal time be consumed with work. This can lead to burnout even among social media managers.

4. Have fun with Social Media

Social media is a part of life that is very fun and exciting. A social media manger can interact with customers and users, create cool and creative content, and help their company become a batter place for everyone involved. It is a fun job that helps those with a creative edge find an outlet that can be useful and productive. Keep having fun by thinking of new and unique ways to use the social media tools that are available. Coming up with ideas is half the fun of being a social media manager.

5. Flame wars are no fun for anyone

The best advice when flame wars break out is not to get involved. Although these wars are common on the various forums around the internet, when it comes to social media they can be personal. Twitter and Facebook make it easy for a user to look up information about who is managing the social media. Don’t let yourself be baited in to joining the conversation. The best thing to do is use an official position for the company that you work for and just state that position. Everyone has an opinion and when a flame war breaks out these opinions will be heard. Just remember a flame can’t survive without fuel, so don’t add fuel to the fire. This is business not personal.

6. Become an expert at using social media tools

Many tools of the trade are useful for managing social media. These range from Twitter clients like Tweetdeck and Metrotwit, to list managing tools like Socialbro. These tools tend to be complex and have many features. Learn what these features are and decide how useful they are to your job. Become an expert with these tools in the area in which they help you the most, but don’t be afraid to jettison the features that are no help. Since the social media industry is ever-changing and volatile, keep an eye out for new tools that might help your job even more. Just because Tweetdeck has been used for three years doesn’t mean it will always be at the top of the social media toolbox.

7. Automating all posts is not advised

The above tools will allow a social media manager to automatic almost every step of the process, from accepting friends to posting tweets and status updates. This isn’t advised as social media users will start to notice if the posts are all automated. This can lead to users thinking the account is just a robot and abandoning the Facebook page or twitter account. Since a social media manager is in customer service, you must remember that customers and users like interaction. Some posts can be automated but remember to always have live post as well. A good idea is to do Question and Answer sessions with your followers, proving that you are no robot. This will help consumer confidence and spread good will for the company.

Many employers have found themselves in a legal mess after giving an inaccurate appraisal during the performance review process. For instance, if the report on an employer’s review speaks highly of the skills of a worker who gets fired a few weeks later, this employee may seek legal redress on grounds of discrimination or similar claim because the claims on the report don’t match the corresponding action taken by the employer.

At the same time, misrepresenting information during the performance review process is a bad idea, as being lenient towards one worker may be looked upon as favoritism by others. This can plant a seed of mistrust and an ‘us against them’ mentality which in the end has irreparable consequences on employee cohesion and morale.

What are some of the things that you should take into consideration when carrying out a performance review process? Here are a few points worth noting:

1. Keep It Simple

A simple and straightforward approach is preferred because it helps employees answer questions easily, giving you feedback that is based on facts that you can document and use in your next approval.

2. Customize Each Review Process

Every appraisal cannot be the same for each employee given the different job descriptions that each is allocated. Even when doing this, ensure to base the evaluation on performance, which can be normalized across the board.

3. Consistency is Key

It’s tempting to carry out a performance review when faced with a challenging situation in the workplace, such as an employee resigning or a shakeup that affects everyone. This kind of knee-jerk reaction will not go down well with employees who will always be primed to defend themselves. People thrive on motivation and consistency, so only carry out appraisals when absolutely necessary to maintain worker morale.

Honesty also plays a part in terms of being specific as to what you want to see change in a particular employee’s performance. Being vague about matters won’t address the issue at hand and will drag down the rest of the workers. It helps to give your employee a deadline as to when you’d like to see the changes or improvement done, to help them focus their efforts in changing the issue at hand.

Lastly, honest feedback promotes employee-employer respect, and the discomfort factor far outweighs the major problems that might develop along the way as a result of skirting around the truth to avoid hurting a worker’s feelings or ego. The performance review process can be compared to the birthing process which holds the promise of new life, growth and future benefits for everyone involved.

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1. Identify your target market. Say, for example, you want to put yourself forward for that new assignment. The sales skills you use on management will differ to those you use on your co-workers when selling an idea.

2. Understand your target. One of the key elements to selling is gaining an understanding of the person you are selling to. You need to assess your customer’s perspective; what is it that will make them buy what I am selling? By putting yourself in their shoes, you can better understand the techniques that will appeal to them.

3. The pitch. So you’ve identified the person you want to sell to, and you’ve attempted to gain a better understanding of their perspective. Now you have to pitch your product. This is one of the most important aspects of selling. Your pitch will determine whether you successfully sell or not. Part of this requires determining what it is about you, or your product, that is unique. These unique characteristics will make up the core of your pitch. Once you’ve identified your unique selling aspects, you need to determine their compatibility with the needs of the person you are selling to. Once you do this, you are on your way to making a successful sale.

These three tips apply whether you want to sell a project, a product, or your own skills and attributes. In a competitive market place, sales skills can be used to assert your individuality. By following the steps outlined above, you will automatically enhance your ability to sell and in the process, enhance your position in any business.

In this series of blog posts, you will learn tips for business success that will take you 5 minutes to achieve. These 5  minute tips will help you find success as an employee, manager, or business owner.

1. The Forgetful Entrepreneur

We all know this guy. The odds are, we have probably been this guy. He jumped on the social marketing bandwagon with two feet and big ideals about massive overnight returns. He created Twitter, Google+, Facebook, MySpace and Pinterest accounts. He has a blog and a Facebook fan page. What he doesn’t have is a post more recent than three weeks ago. He seems to have forgotten that he even has all of these social platforms waiting to be used. Why? Maybe all of this social presence created a boost in business that left this guy too busy to post regularly? Maybe he didn’t see the immediate influx of customers he anticipated and lost interest? Maybe he just hasn’t found time to post on all of these profiles? Whatever the reason the social platform is being mismanaged, it is hurting the companies marketing. After all, if your company’s marketing isn’t important enough for you to keep it up to date, why should anyone else pay attention?

FIX IT: This problem is fairly simple to fix. Simply find the time and motivation to start posting on a regular basis again…

Okay, that isn’t always so simple. If your social marketing is suffering due to lack of time because business has picked up, then maybe it is time to consider hiring a social media person to handle marketing or use one of the many programs designed to make pre-written posts at preset times. By doing so, you take a lot of the burden off yourself but still use social platforms to your best interest. If you find you still have too many social platforms to work with, it might be time to eliminate a few of them from the roster and focus on the ones most of your customer base is using. After-all, isn’t it better to have one or two social media campaigns that are getting good results than to have ten that aren’t performing at all?

2. Getting Too Personal

A few years ago, some business owners thought it would be wise to feature their children and other family members in their advertising. It was novel. It was cute. Then it became cliche. Now, it’s just annoying. After-all, when was the last time you bought a car because a blue eyed, blond haired, four year old said “My grandpa sells the best cars at the best prices.”?

Unfortunately, a lot of folks handle their social media campaigns in the same way. When you visit Facebook, you see people sharing intimate details of their lives that most of us really don’t care to know about and that trend has spilled over into some business accounts as well, especially in the case of small, privately owned businesses. We want our customers to trust us so we try to share our lives with them and show them we are people too. This is a good theory but the problem is sometimes we share too much and then we are just posting things our customers don’t really care about. Do this too often and your followers will either quit following you or they will ignore the notification that you have shared something, meaning they miss your posts that actually apply to them.

FIX IT: Recognize a few basic principles of human behavior. People make purchases based on need and want. It has nothing to do with how cute your baby is or what you are eating for breakfast. They buy products and services from people they trust. Again, that has nothing to do with your baby or your meal. The deciding factors ( Need – Want – Trust) are the factors your social media campaigns should focus on. Post stories related to your product or service, showing your customers why they need your service or want your product. Then, build trust in your company by showing testimonials from happy customers, professional certifications and other accolades that relate to your business. Save the personal stuff for your personal accounts.

3. Don’t Beat Me Over The Head With It

Another error that is common in social media marketing is the tendency to spam your followers with links to your products and services. We have all been the unfortunate follower of this guy. He sends out the links to each of his products twice an hour and the lineup never changes. Sometimes, it’s even the same wording. It finally reaches the point where you want to scream ,”If I didn’t want this at 10 A.M., why do you think I want to hear about it again at noon?” If you are this guy, you can expect to see your social media post wind up in the same place as spam emails and junk mail. It simply becomes ignored and forgotten.

FIX IT: While you definitely want to market your company through the platform, social media is more than just advertising. Use social media to promote, build trust and communicate with your customers rather than just advertising products or services to them. Think of it this way. If you took a client to a business dinner, would you talk explicitly about your products and services the entire time? No, you would socialize and find out what your clients needs and interests were to try and better match your services to their needs. Treat social platforms in the manner.

4. Bad Timing

Have you seen the postings of the insomniac business owner? He is awake all night, posting great things on Google+, Twitter and Facebook. His posts are always on target. Oh, you haven’t seen them? Maybe you were asleep…

Sometimes as entrepreneurs, we forget that the rest of the world doesn’t operate on our schedule. Just because we are awake at 3 A.M. trying to figure out the best ways to drive sales, it doesn’t mean our clients are awake and checking their social media notifications.

FIX IT: Timing is important to effective social media. Unless you are marketing to a global audience or specifically to night shift workers, there isn’t much need for posting around the clock. If you are staying up to post items at 3 A.M. and your customers all went to bed at 10 P.M., most of them will never see your posts because the other people who communicate with them will have your messages buried under their own post by the time your customers get around to checking their notifications the next day. Use your time more efficiently. Schedule tweets and posts to happen when your clients are awake and considering purchases.

5. We Don’t Discuss That

Do you know one of those people who always wants to argue about everything? Sometimes it seems like they say the most insane things just to stir up controversy. Those same people are on social sites and many of them are using controversy in their marketing campaigns. They post links to their favorite political candidates, religious debates and other things that seem to stir up arguments and get people talking. If you are one of these people, then you may be alienating your customers, rather than winning new business.

FIX IT: Controversy for the sake of conversation has no place in social media marketing. While it’s perfectly alright to have your own views, it isn’t going to help you grow your business if you offend your target market. Unless you are a campaigning politician or a pastor promoting your ministry on your churches Facebook page, step back from the soap box. Save religious, political and other incendiary comments for your personal profiles.

By avoiding these common pitfalls or fixing them, if they are already an issue, you can make your social media more effective and build a stronger customer base for your company.

I. Get a Registered Agent

This entity must be a person or business with a physical street address in Delaware, as opposed to a post office box or Internet website. It can even be you, or your company, provided that such an entity conducts business from the State of Delaware.

II. Establish/Reserve Your Name

The state of Delaware has stipulations for the choice of a name of which you should be aware. According to the Active Filings website, your corporation names must contain one of the following endings: “Association;” “Company;” “Club;” “Corporation;” “Union;”" Society;” “Syndicate;” “Foundation;” “Fund,” or “Limited.” Or the name must end with such abbreviations as “Ltd,” “Co,” “Corp,” or “Inc.” Do not attempt to use “Trust” as a name ending; it is illegal to do so in Delaware, unless you are doing it as a corporation under the supervision of a bank commissioner.

Although the establishment of an entity name is required, registration of your name is not. However, it is wise. For if you have a preferred corporation name, you should ensure that no one else is able to take it. What name reservation does is to place a 120-day guarantee on your business entity name. By law, nobody can use it within that period. According to the State of Delaware website, you can do this by accessing https://delecorp.delaware.gov/tin/EntitySearch.jsp. You can also enter your desired name there to see if anyone else already is doing business under your chosen name. Remember, however, that there is a fee — $75.00. The Delaware Department of State takes all major credit cards, Visa, MasterCard, Discover, and American Express.

III. Locate the Correct Forms

Go to http://corp.delaware.gov/newentit09.shtml to find sample forms to submit for the incorporation of your business in the State of Delaware, plus a schedule of fees. This step is important, for you must fill these forms out completely, and provide the correct amount of money, or your forms will be sent back by first class mail. Follow the instructions on these forms very carefully to speed up their approval of your entity as a corporation.

IV. Include a Cover Sheet

Indeed, one of the required forms on any business incorporation application in the State of Delaware is a cover sheet. This document must include your name or that of the business, the return address, and telephone number. This form is available at http://corp.deleware.gov/cvrmemo/shtml.

V. Know Financial Institution Requirements

As the State of Delaware website points out, some financial institutions mandate that you include a Good Standing Certificate, or a certified copy of your new business filing. If you’re applying for incorporation in Delaware — or any other state, for that matter — it’s advisable to check with the financial institution with which you are setting up your business account to find out if these forms are required by them.

There is a fee for such certificates. You order them at the time you file for incorporation by writing in the Comments section of your application that you need such forms. The cost is $50.oo per certificate for a short form certificate of status, and $175 for a long form. If you wish to expedite the processing of your request, the fees are even more.

VI. Become Familiar With the Tax Laws

The State of Delaware charges an Annual Franchise Tax, to be filed no later than March 1, covering business you have conducted in the previous year. The minimum amount of money you’ll owe is $75, according to the Bizfilings website, while the maximum tax is $180,000. If you owe $5,000 or more, you may pay in quarterly installments — 40 percent by Sept. 1, 20 percent by Dec. 1, with the balance payable by March 1st of the next year. If you happen to be a tax-exempt organization, such as a non-profit, you must still file an annual report, due in to the Department of State by March 1st. The penalty for not filing the report is $100, with interest for nonpayment at 1.5 percent.

Also important are rules governing authorized shares. The State imposes taxes on such shares, according to their worth. According to Active Filings, for up to and including 3,000 shares, your cost will be $30.oo in taxes; you will owe $50 for 3,000-5,000 shares. For shares between 5,000-10,000, the cost is $90, plus $50 for every$10,000 shares after the first 10,000.

Another significant tax in the state of Delaware that you should know about is the income tax. For all business entities — including corporations — operating inside the state of Delaware, that tax is 8.7 percent, according to the Active Filings website.

VII. Other Considerations

Depending on the profession of your business, the State of Delaware may also require you to apply for certain licenses. As the Active Filings website advises, you should check with the Department of State to see what these rules are, as well as the fees associated with such certification.