Delaware Specific Question

If we plan to register our company in the state of Delaware then what are the advantages or benefits when compared with registering the company in other states of the US? Also share the disadvantages of registering a company in the State of Delaware.

Delaware is one state where the owner's (directors, officers) privacy is protected and that means that the owner’s information is not disclosed. Another benefit of Delaware is that if you want to go public then Delaware provides better protection under chapter seven, under bankruptcy liquidation.

As a disadvantage of doing business in Delaware, doing business in the state is more expensive than in most states. Filing is more expensive in Delaware and also there is a higher franchise tax that you pay yearly to the state of Delaware. If there is a legal dispute then since your case must be heard in the court in Delaware, you will have to travel to Delaware to handle the dispute.

So, once again, to register your business in Delaware you must have a good reason for why you're doing it since the minimum tax, tax formalities, compliances and the asset tax are more than in any other state in the US.
Why is Delaware considered a Tax Haven?

No, Delaware is not a tax haven. Delaware does not charter secret corporations exempt from public knowledge and inquiry, and Delaware is usually not the cheapest option for incorporation.