How Can Business Owners Benefit from Incorporating in Nevada?

The state of Nevada is becoming an increasingly popular place to form a business. In fact, Nevada is recognized as the second best state in the United States with policies that encourage entrepreneurs. Fostering a climate ripe for business growth, Nevada's appeal can be attributed to having no corporate income tax, personal income tax or franchise tax. Discover other reasons why the state of Nevada may be the right state for you to incorporate your business.

Taxes

Low taxes and favorable government policies foster the climate of Nevada that is ripe for attorneys, entrepreneurs and top business men and women. This state's friendliness to all types of businesses has made the state's economy among one of the fastest growing in the United States. As cited previously, the state of Nevada has no corporate income, personal income or franchise tax. Gambling is the state's main industry, which is why the low tax burden for individuals and several businesses is very light in comparison with many other parts of the country. Nevada taxes gambling revenue at the rate of about 6.75%. Additionally, the state of Nevada does require that an initial and annual report be filed with the state called "Initial List" and "Annual List." The fees for this can vary depending on business license requirements, but is typically a minimum fee of $125.

Cost

The state-filing fees for Nevada are typically lower than other states.

Anonymity

Nevada allows "bearer shares" for added privacy for shareholders. Bearer shares of stock in a corporation certifying that the "bearer" is the holder rather than registering the stock in an individual or corporation name

Residency

Shareholders, directors, officers, members and managers do not need to be residents in the state of Nevada.

Legal Address

The legal address does not need to be within the state of Nevada.

Business Courts

Another top advantage for Nevada corporations and Nevada LLCs is Nevada's system of business courts. Nevada has courts that specialize in hearing business lawsuits, and these courts are in place to help avert business disruptions, manage very complex cases, and to provide constant rulings on issues that are business related.

For questions on which state is best for the formation of your business, please seek the advice of an attorney or accountant. If you decide incorporating in Nevada is the route you want to go we'd love for you to work with The Nevada Company. Forming Nevada corporations and Nevada LLCs is all we do-and it's all we have done since 1996. We look forward to serving you.

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