Category:
Incorporation
One of the most significant decisions that you have to make as a business person is deciding upon the structure of your business and where you are going to incorporate your firm. This decision needs to be based not merely on what you think, but on the facts, as the outcome of your business depends on it. You must set up your corporation in a state that is not only convenient location wise, but also has tax perks and other benefits as well. This will be very helpful as you will not only have the flexibility to operate your corporation in a manner that is most suited to you but you can also take advantage of the many relaxed corporate laws in the state.
Nevada is known as a corporate haven because over the last few years this state has changed many of its business and taxation laws so as to attract more investment. Of late instead of Delaware being considered the corporate capital of the country, Nevada has taken over inviting business men and women from all over the country and the world to come and incorporate their businesses here. According to figures released by Nevada's state government 1995 was a record year for the state for incorporating new businesses, while of late roughly 12% of Nevada's corporations have 'foreign corporation' status. This means that 12% of corporations in Nevada are owned and operated by non-resident Nevadans.
Nevada Corporation
One of the most significant decisions that you have to make as a business person is deciding upon the structure of your business and where you are going to incorporate your firm. This decision needs to be based not merely on what you think, but on the facts, as the outcome of your business depends on it. You must set up your corporation in a state that is not only convenient location wise, but also has tax perks and other benefits as well. This will be very helpful as you will not only have the flexibility to operate your corporation in a manner that is most suited to you but you can also take advantage of the many relaxed corporate laws in the state.
Nevada is known as a corporate haven because over the last few years this state has changed many of its business and taxation laws so as to attract more investment. Of late instead of Delaware being considered the corporate capital of the country, Nevada has taken over inviting business men and women from all over the country and the world to come and incorporate their businesses here. According to figures released by Nevada's state government 1995 was a record year for the state for incorporating new businesses, while of late roughly 12% of Nevada's corporations have 'foreign corporation' status. This means that 12% of corporations in Nevada are owned and operated by non-resident Nevadans.
There are plenty of reasons why to incorporate your business in Nevada, some of them include:
- No shares tax as well as franchise tax.
- No succession tax as well personal income tax.
- The minimum number of officers and directors is one. This means that you can set up a one man corporation.
- Nevada has no corporate income taxes on businesses incorporated here.
- The state has minimum requirements for disclosing and reporting information.
- Stock holder information for Nevada corporations is kept private.
- The state does not share corporate any information with the IRS.
- Nevada corporations can purchase, hold, sell or transfer shares of their own stock.
- With regards to the issuance of stock, directors determine the value of these transactions and their decisions are final and binding.
- Nevada has no minimum initial capital requirements if you wish to incorporate your business in this state.
- Corporations in Nevada can issue stock for capital, services, personal assets or real estate.
- In Nevada only the names of the officers and directors of a corporation are matters of public record.
- Corporations do not have to file any other information, listings or even meeting minutes with the state.
- In Nevada the officers and directors of a corporation are protected from personal liability for their lawful acts if they were made in lieu of the corporation.
- Nevada is the only state in the country that permits the issuance of 'bearer shares'.
- Directors in Nevada corporations do not need to be stockholders.
- Nevada corporations have nominal annual fees.
- Stockholders, directors, and officers in Nevada corporations do not have live in the state, or for that matter even be US citizens.
