The Delaware Code allows a qualified domestic corporation to file as an exempt corporation. The definition of an exempt corporation is as follows:

In order to file as an exempt corporation you must meet the requirements of 391 (j) as follows: “…the term “exempt corporation” shall be defined as any corporation organized under this chapter that is not authorized to issue capital and that:

1) is exempt from taxation under § 501(c) of the United States Internal Revenue Code or any similar provisions of the Internal Revenue Code, or any successor provisions:

2) qualifies as a civic organization under § 8110(c)(1) of Title 9 or § 6840(4) of Title 16;

3) qualifies as a charitable/fraternal organization under § 2593(1) of Title 6;

4)is listed in § 8106(a) of Title 9;

5) is organized primarily or exclusively for religious or charitable purposes; or

6)(i) is organized not for profit and (ii) no part of its net earnings inures to the benefit of any member or individual.