Why Should I Incorporate My Business in Nevada?
Nevada has some of the strongest laws protecting businesses who incorporate in their state. Whether you choose to have your company be a Limited Liability company or a corporation that is stock held, it insulates the business owners from lawsuits.
The NRS 78.257 statue, for example, protects any stockholder who owns fifteen percent or more stock in the company. They have the right to inspect the companies records and request an audit of the business.
The State of Nevada does not keep information on their business entities or their residents who incorporate in Nevada. They have no reciprocity arrangement with the Internal Revenue Service nor do they share information with the Internal Revenue Service. We have seen where other states freely share information about every resident or corporation with the Internal Revenue Service.
Incorporating in Nevada gives the owner the ability to issue stock for personal property, real estate, capital, option, services or leases. This allows the managers or directors the ability to give the value of these transactions.
Here are some other great reasons to incorporate in the State of Nevada:
- There is no corporate tax as well as personal income tax in Nevada
- There is no tax on franchise income nor is there a franchise tax
- Other taxes you avoid are gift or inheritance tax, estate tax and unitary tax
- Nevada is noted for their competitive property and sales tax as well as their employer payroll tax
My Company is in a Different State – Is it Legal to Incorporate in Nevada?
Yes. We have several hundred clients in other states that have chosen to incorporate in Nevada. It is a good deterrent to frivolous law suits because the plaintiff has to bring the lawsuit into the state of Nevada. This can be very costly as there are additional expenses involved.
Bottom line, Nevada protects the business owner. You should check with the laws in the state you do business as you may need to register your corporation with your state. Of course, there will be a cost, but it is worth it.
Incorporating in Nevada is Good Asset Protection
Your assets both personal and business need to be protected. With the influx of people becoming lawyers, it is estimated there are over one million in practice today throughout the United State. When one of them is approached to file a lawsuit, they will first look at the assets of the company and individual.
In Nevada, the individuals’ personal property protected because the only thing that can be targeted is the assets in the business. We have several companies open second and third corporations and move some of the assets over to protect them.
Shareholders in a corporation are protected as the shares in the company they own are considered personal property. Also, forcing a company to liquidate their assets in the State of Nevada does not happen.
Nevada Discount Registered Agents has been helping business owners incorporate their business in Nevada for years. Our staff is friendly and very knowledgeable and can answer most of your business questions. Call Polly today at (775) 782-6587.