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Re: [newtech-1] Question on Delaware Corp in NY

From: Roman Fichman E.
Sent on: Friday, October 29, 2010 9:55 AM
The publishing fee as well as the state franchise fees for foreign entities are more expensive. If your budget it tight you can start with a NY entity and when the time is right transfer it to DE. Delaware has a streamlined process to turn companies into DE companies.

You should note that by not registering as a foreign entity in NY, you in effect expose yourself to personal liability in NY potentaily voiding the limited liability shield that a corporate entity would otherwise provide.

Roman R. Fichman, Esq.
(212) 337 - 9837 Tel
(212) 842 - 5311 Fax
"Nurturing Start-Ups in Silicon Alley"

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Disclaimer: No animals were harmed in the making of this post. The information contained herein has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice. You should always consult an attorney admitted to practice in your jurisdiction for specific advice.

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