There are several good reasons to incorporate your business in Nevada. There is no sales tax in Nevada and no franchise tax. In addition, there is no succession tax in Nevada as well as no personal income tax. The minimum amount of people as officers or directors is one. There are laws in Nevada that allow for one-man corporations.
On top of all these advantages there are no corporate income taxes on businesses incorporated in Nevada and there are minimum requirements for reporting and disclosure in this state. The state of Nevada does not share corporate information with the IRS and stockholder information remains private. Only the names of the officers and directors of a Nevada corporation are on public record. No other information, listings, or minutes of meetings are filed with the State. Nevada has established case law that prevents easy piercing of the corporate veil.
Nevada corporations may purchase, hold, sell or transfer shares of its own stock and corporations may issue stock for capital, services, personal property, or real estate, including leases and options. The directors may determine the value of any of these transactions, and their decision is final.
Nevada is a state that is especially attractive to new businesses because there is no minimum initial capital requirement to incorporate. Nevada corporations may issue stock for capital, services, personal property, or real estate. The directors alone may determine the value of any such transactions, and their decision is final.
Corporate officers and directors in a Nevada corporation can be protected from any personal liability for their lawful acts on behalf of the corporation. Nevada is the only state that allows for the issuance of "bearer shares." Stockholders, directors and officers of a Nevada corporation need not live or hold meetings in Nevada, or even be US citizens. A Nevada corporation`s directors need not be stockholders.
Nevada incorporation requires that business founders as well as emerging businesses review their focal point of operation in order to settle on the form of incorporation that best suits your business plan. Incorporation in Nevada usually means that business owners seek to place their business operation on a stage that would provide for legal separation between the actions and potential liabilities of a corporation and its trade creditors versus owner-directors` personal assets such as cash on deposit, automobiles, real property and the like. Incorporation creates a registered agent which can handle a number of incorporation filing requirements both during the company incorporation phase as well as those annual repeated filings related to corporate governance or state and federal tax.
Incorporating your business in Nevada or any state in the United States may seem a complex task, but there are literally hundreds if not thousands of businesses available to help you through this for a service fee.
With the help of one of these companies offering service, it is possible to incorporate your business relatively easily. Incorporation services will help you complete the Articles of Incorporation for the state in which you wish to incorporate your business as well as the Federal Tax ID Application. They will also draft bylaws, Member Agreements, Initial Corporate Minutes, and Stock Certificates. It`s easy to find incorporation services on the Internet that can get your business incorporated.