We are Imaginary Number, a small educational games startup with 3 founders, zero employees, and a handful of paying customers. I finally opened the letter from CSC, the Delaware agent responsible for collecting taxes. Here's what they sent:
https://mathbreakers.com/static/img/csc_delaware_tax.jpg
After 10 minutes of mounting panic, I came across some information which relieved me. Apparently Delaware likes to use the maximum method for calculating taxes for startups, when we actually only owe a tiny fraction of the amount they claim we owe (and they offer a hefty interest of $525.56 on this supposed balance as well!)
Here's the article, if you're a C-Corp in Delaware and at the seed stage, you'll need to see this.
http://capgenius.com/2011/03/02/de-franchise-tax/
Any other startups here gotten a nice "tax surprise"? Would love to hear about it!
https://mathbreakers.com/static/img/csc_delaware_tax.jpg
After 10 minutes of mounting panic, I came across some information which relieved me. Apparently Delaware likes to use the maximum method for calculating taxes for startups, when we actually only owe a tiny fraction of the amount they claim we owe (and they offer a hefty interest of $525.56 on this supposed balance as well!)
Here's the article, if you're a C-Corp in Delaware and at the seed stage, you'll need to see this. http://capgenius.com/2011/03/02/de-franchise-tax/
Any other startups here gotten a nice "tax surprise"? Would love to hear about it!