I will be incorporating in Delaware. Eventually I plan to hire employees if things go well but for now it's just me; I will be providing all funding out of my own pocket.
To get things started, I estimate that my business will only require about $10,000 to get off the ground. Now here's my question. To keep taxes low, I plan to file a Certificate of Incorporation that only allows 5,000 shares to be authorized. What should I set the par value to?
Should I set the par value such that the amount of shares I plan to sell myself (1,000, for example) when the first shares are authorized are "worth" the $10,000 I plan to invest in the company? Or can I simply set the par value low (at $0.01, for example) and then voluntarily pay more for the shares?