Assemble the annual franchise tax report, without a solvency resolution
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List the items § 502 requires the annual franchise tax report to contain, and leave every figure and address blank for the lawyer to take from the records. Do not add a solvency resolution and do not sign the report. State law governs, and the lawyer confirms the governing state. For example, the Delaware General Corporation Law. Delaware is the most common state of incorporation.
- What the lawyer must review
- Section 502: annually on or before March 1, every corporation incorporated under Chapter 1, or which has accepted the Constitution of this State, shall make an annual franchise tax report to the Secretary of State on a form the Secretary designates. It is signed by the president, secretary, treasurer, another authorized officer, a director, or, for an initial report if the board has not been elected, an incorporator. The report states the registered office, the agent for service, the nature of the business, the principal place of business, the directors as of the filing date and the officer who signs, and the authorized shares and par value, or that shares are without par value, plus whatever else the Secretary requires to ascertain the tax. Unless the corporation keeps its principal place of business in Delaware and serves as its own registered agent, that address is not the registered office. A knowing false statement by an officer or director is perjury under § 502(b). Failure to file a complete report by March 1 adds $200 to the franchise tax. Section 510: neglect or refusal for one year to pay the franchise tax, or to file a complete report, makes the charter void and the corporate powers inoperative, unless the Secretary has given further time for good cause. You open the current form. You do not add a solvency resolution. The statute does not require one. State law governs, and the lawyer confirms the governing state. For example, the Delaware General Corporation Law. Delaware is the most common state of incorporation.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Check the current court or regulator requirements, prescribed form and attachments for the intended document and filing.
- Obtain and inspect the relevant current official register or search result. Confirm identities, interests and the date and scope of the search.
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.