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Incorporation >> Incorporation in US States
In the drive to boost investment and create employment, the state of Nevada has formulated a series of mechanisms that encourages investors to incorporate within the state. These include a combination of tax incentives and flexibility of operation that are enticing to any business. These include:
Nevada has clear and established guidelines for organizations wishing to incorporate in the state. The process begins with the officers of the organization deciding on a name for the organization. This name must be distinguishable from any other name previously used by any other registered company. It is then checked by the state to ensure its non-existence. If successful, it is stored for further processing.
The organization then appoints an agent who becomes its representative in all encounters with the Secretary of State. This individual must be prepared to commit to being available at all times within the state during normal office hours to answer any queries forwarded by the state.
The last phase involves filing the application for the articles of incorporation. Here, you provide needed information about the organization such as its name, address, number of directors and purpose of operation. This information is submitted to the Secretary of State where it is checked and approval granted where warranted.
Nevada Incorporation
In the drive to boost investment and create employment, the state of Nevada has formulated a series of mechanisms that encourages investors to incorporate within the state. These include a combination of tax incentives and flexibility of operation that are enticing to any business. These include:
- No tax on corporate income
- No tax on corporate shares
- No estate, unitary or franchise tax on income
- Minimal annual fees
- Ease in transfer of shares
- Corporate federal tax of 15% on the first $50,000 of net income
- Restriction of reciprocity of information between the IRS and Secretary of State about company information
- Employer federal tax of 0.7% on gross salaries for health insurance
- Low sales and property tax rates
- Modern and efficient processing systems to reduce bureaucracy
How to Incorporate in Nevada
Nevada has clear and established guidelines for organizations wishing to incorporate in the state. The process begins with the officers of the organization deciding on a name for the organization. This name must be distinguishable from any other name previously used by any other registered company. It is then checked by the state to ensure its non-existence. If successful, it is stored for further processing.
The organization then appoints an agent who becomes its representative in all encounters with the Secretary of State. This individual must be prepared to commit to being available at all times within the state during normal office hours to answer any queries forwarded by the state.
The last phase involves filing the application for the articles of incorporation. Here, you provide needed information about the organization such as its name, address, number of directors and purpose of operation. This information is submitted to the Secretary of State where it is checked and approval granted where warranted.
Fees
Processing fees begin at $85, but increase based on the requested processing time, as well as the amount of shares distributed by the organization.