1. Delaware Has Incredibly Dynamic Laws About Business Formation
Delaware is the state that has the most well-known laws about business formation. It has very favorable tax rates and is also one of the few states that allows corporations to be formed without holding any meetings.
Companies looking to incorporate in Delaware typically do so for four main reasons:
1) The no-meeting corporation law makes it easier for founders who are not physically present to form a corporation,
2) The high percentage of Fortune 500 companies that are incorporated in Delaware provides an air of legitimacy,
3) It is one of only six states that do not have annual filing fees, making it an attractive option for smaller companies or those just starting out, and
4) The general presumption among other states’ incorporation statutes is that Delaware law governs any conflicts between them.
2. The State is Rooted in Entrepreneurship and Innovation
The State has been a foundational institution that has supported and authorized the creation of new ventures. The purpose of this section is to explore how state actors can take on a more active role in supporting entrepreneurs and innovators, with an emphasis on the role of governments.
A sensible way to go about it, as documented in many examples of successful entrepreneurship policy, is to leverage small-business investment programs like angel investing or social impact investing.
3. You May Have Access to In-State Benefits
When you move to a new state, it can be confusing to figure out whether or not you still qualify for benefits.
If your benefits come from the federal government, you may still be eligible. New Jersey is one of the many states where this is true.
If your benefits come from a state government, that’s another story. In most cases, you can no longer receive those benefits if you move out of that state. For example: If you’re receiving child support payments or unemployment payments in the State of California and then move to New York, those payments will stop without warning and it may take months or years before they resume again – if at all.
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