Accepting payments with Stripe
After completing your company formation process, you can activate your U.S. Stripe payments account. When it’s activated, you’ll need to add your bank account to your Dashboard, and then you can start processing live payments. Read more about Stripe payments.
Opening a business bank account
Stripe Atlas founders can open a business bank account with one of our partners after forming a company. Our banking partners determine supportability and they may not be able to support all businesses. You can read more about adding your bank account to your Dashboard.
After you complete company formation, you have the option to open a bank account with Mercury. Both C Corporations and LLCs are eligible to apply for Mercury. Current residents of some countries may not be eligible for Mercury (you may still be eligible if you’re a citizen but not a current resident). For details see Mercury’s FAQ.
When you apply for a Mercury business bank account, you’ll need to provide the following information:
- A description of your business and link to your website (if available)
- Filed formation/incorporation documents from the state of Delaware (accessible on the Dashboard)
- IRS-issued EIN document (Form CP575, Form 147c, completed Form SS-4, or a screenshot of the EIN confirmation from the IRS’s website)
- International passport or U.S. government ID for each founder or majority owner (more than 25%) of the company
- Residential address (does not have to be in the U.S.) of each beneficial owner of the company
- Email address for each beneficial owner of the company
- U.S. Social Security number for each beneficial owner of the company (if applicable)
- Phone number of each beneficial owner of the company
Silicon Valley Bank (SVB)
After you complete company formation, you have the option to open a bank account at Silicon Valley Bank (SVB).
During the application process, you’ll be prompted to select administrators for your SVB account. After you open the bank account, the administrators receive a temporary password to log in online.
You can link your SVB account to your Stripe account to have Stripe payments automatically deposited. As soon as your business banking account and Stripe payment accounts are open, you can begin accepting live payments.
For details, visit SVB’s website.
Stripe Atlas partner benefits
Stripe Atlas provides additional benefits to its users beyond helping them create a U.S. company and obtain a U.S. tax ID for the company. Stripe Atlas founders can activate a Stripe account, open a bank account with one of our banking partners, access free credits, and receive exclusive access to free products and discounted pricing from our partners (including up to $100,000 USD in credits). Be aware that our partners may have specific rules and expiration dates for offers relevant to their program—check with each benefit partner for the terms of each benefit.
Stripe Atlas users have access to legal guides and to a tax guide, accessible on the Dashboard. We also encourage you to read and refer to our Stripe Atlas guides—primers explaining accounting, taxes, employment, and more.
The Stripe Atlas Community
Stripe Atlas members join the Stripe Atlas Community, a global community of entrepreneurs. Atlas members can connect with founders and get practical advice. You’ll get access to the community after you receive your company’s EIN. After you’re granted access, use your Stripe account details to log in.
If you have co-founders, you can grant them access to the Stripe Atlas Community by making them administrators of your Stripe account.
Registered agent service
Delaware requires that companies have a registered agent to receive official notices. A registered agent is included as part of the initial $500 USD setup fee and is renewed automatically each year. Your registered agent may contact you directly to share legal notices and communications from Delaware with you. Your registered agent address is not a general purpose mail-forwarding address for your company and shouldn’t be listed as a company address. You can separately choose to use a virtual address service to receive general mail and for customer contact.
Stripe Atlas users have access to legal guides and free annotated legal templates that can be customized for their company’s next steps after incorporation, accessible in your Dashboard.
Stripe Atlas users also have access to a network of startup attorneys who can provide a short free consultation and flat-rate legal packages for Atlas users. You can contact us after forming your company to get in touch with our partner law firms.
Stripe Atlas users have access to bookkeeping services at preferred pricing; you can sign up in your Dashboard after you complete forming your company. We also have written a guide about startup bookkeeping and accounting that you can read at any time.
Companies formed in Delaware are subject to yearly tax obligations, including:
- U.S. federal and state corporate income tax as applicable
- Delaware franchise tax (for C Corporations) or annual LLC tax (for Limited Liability Companies)
- A similar annual tax if your Delaware company also operates in other U.S. state(s)
Stripe’s partners can assist you in meeting tax requirements for states outside Delaware.
Make sure to watch the calendar, and plan ahead to meet any tax deadlines that apply to your business.
2022 Key tax season dates
Plan ahead to meet any tax deadlines that apply to your business. For companies active in 2021, these include:
Also, if your U.S. company has employees, or makes payments to U.S. vendors, it might be required to file a U.S. W-2 or 1099 form by January 31, 2022.
Each US business is required to pay income taxes. We have partnered with tax advisors that specialize in working with startups to provide you affordable options for filing your corporate income taxes. These services are used by top startups and offer discounts for Stripe Atlas users. Each service specializes in a different area—choose the one that’s right for your company:
Filing taxes in Delaware
State taxes beyond Delaware
If your company operates in any U.S. states other than Delaware, it might be subject to annual taxation, registration, and reporting requirements in the other states. Stripe recommends that you consult legal and tax professionals about what requirements apply to your business.
Filing U.S. Income Tax
Before working with an accountant and filing taxes, you should prepare as much of your company’s year-end financial data as possible. This is part of your bookkeeping responsibilities. There are several tools like Xero, Bench, and Pilot that can help with this, and you might want to view our guide to tax season.
Are you waiting for your EIN?
In your tax forms, you can enter Applied For and the application date, which you can find on your Form SS-4 in the Dashboard.
Taxes before dissolving your company
If you aren’t operating your company anymore, you might still be obligated to file taxes every year until you dissolve it. When you dissolve a company, there might be additional tax filings and obligations for the year in which you dissolve the company. You can work with our tax partners to figure out what your obligations may be.
C Corporations can be dissolved in the state of Delaware only after they pay Delaware franchise tax and file their annual report. LLCs can be dissolved only after they pay annual LLC tax (no annual report is required).
Stripe Atlas users who need help closing their company’s operations can work with a lawyer to dissolve their company. If you need help finding an attorney, Stripe Atlas can connect you with lawyers who can assist you.
When to form your company
If you plan to form your company near the end of the calendar year, potentially wait until the start of the new year to form your company, given the tax implications. C Corporations active in Delaware any time before December 31 owe at least the minimum Delaware franchise tax for that year. LLCs active before December 31 owe the full annual LLC tax for that year. Neither the franchise tax nor the LLC tax is prorated. Your company might also owe U.S. federal corporate income tax for the outgoing year. It might also owe taxes to a U.S. state other than Delaware, depending on where the LLC operates.
Additional tax resources
Here are some additional resources that may be helpful to learn more about business taxes: