Entity Structuring Question: Delaware LLC & Foreign Registration

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by a searcher from Northwestern University - Kellogg School of Management
in Chicago, IL, USA

4mos ago

Entity Structuring Question: Delaware LLC & Foreign Registration

If your fund is a Delaware LLC, did you also register as a foreign entity in your home/search state? Curious what’s standard vs optional here.

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reply by a professional 4mos ago
from University of Pennsylvania in New York, NY, USA

If you are "conducting business" in a state, you are supposed to qualify to do business there. Whether you are conducting business is not a bright line rule but things like maintaining an office, having employees or ongoing revenue in a state are typically viewed as clear evidence of business conduct.

reply by a searcher 1mo ago
from Washington University in St. Louis in New York, NY, USA

Yes, you will probably need to register a foreign entity in the state if you are physically located there or if any employees are. You will need an EIN number in the state for the state to identify you and know how to treat you from a taxation perspective.