No-par value stock, as the name implies, is a type of stock that does not have a par value attached to each of its share. Unlike par value stock, no-par value stock certificate does not have a per share value printed on it. Although prohibited in many countries, the issuance of no-par value stock is allowed in some states of USA. Why Zero Par Value Stock Affects Franchise Tax By Amy Fountain Monday, May 6, 2019. When forming a Delaware corporation, one significant detail you will need to consider is the number of shares the entity will have authorized, and the corresponding par value of those shares.. The values that are chosen will affect several structural aspects of the entity, including equity, capital and ownership. Par value gives no clue as to the stock’s market value. Shares with a par value of $5 have traded (sold) in the market for more than $600, and many $100 par value preferred stocks have traded for considerably less than par. Par value is not even a reliable indicator of the price at which shares can be issued.