Delaware Fee Increases Finalized

By: Clare Oliva, COGENCY GLOBAL INC. on Jul 14, 2017 12:51:35 PM

As mentioned in our previous update,  Delaware Governor John Carney signed House Bill No. 175 into law, amending various taxes and fees charged by the Secretary of State in Title 6, Title 8 and Title 12 of the Delaware Code.

Uniform Commercial Code Fee Changes Finalized by Division of Corporations

The amendatory legislation provided “maximum” fee increases for UCC filings, leaving it to the Division of Corporations to set the actual new fees. The Division of Corporations has now confirmed the new UCC filing fees, effective August 1, 2017, as follows:

  • Web-based filings (including XML) will increase from $30 to $50
  • The fee to file paper filings will remain $100

Global Filing Fee Increase

The global filing fee will increase from $1,000 to $2,500. (“Global” filings are corporate/entity filings that are submitted with a future effective date that falls outside of normal business hours for the Division of Corporations.)

Other Delaware Fee Increases

As detailed in our previous update, the amendatory legislation also increased the fees for the annual corporate franchise tax maximum, the penalty for late filing of the annual report/payment of the franchise tax and the assumed par value multiplier, authorized shares franchise tax calculation method and the no par capital calculation. The fees related to certain filings for statutory trusts were also increased.

For more details, review the full text of House Bill No. 175.

Topics: Delaware Corporate, UCC and Compliance