Advantages of Incorporation in Nevada
Advantages of Incorporation in Nevada
Nevada has many outstanding benefits that attribute to its pro-business environment which stem from Nevada’s excellent asset protection, privacy and tax laws. To truly give your business a competitive edge, consider Nevada for the following reasons:
Asset Protection
Although incorporating provides you with enhanced liability protection, Nevada goes further than other states to protect it’s corporate owners from lawsuits and creditors. In Nevada:
- As an officer or director of a corporation, you cannot be held responsible for lawsuits against the corporation except in the case of outright fraud.
- There are no records showing who the shareholders of the corporation are.
- You have the ability to use nominee officers and/or directors to keep your name off public records deterring asset searches.
Taxes Advantages
Nevada has always had a very attractive tax structure for businesses and individuals. Tax benefits for businesses include:
- No corporate tax
- No personal income tax
- No franchise tax on income
- No inheritance or gift tax
- No admissions tax
- No unitary tax
Additional Advantages to Incorporating in Nevada:
- Nevada corporate stockholders and directors are not required to be US citizens.
- Stockholders and directors meetings are not required to be held in Nevada. They can be held anywhere in the world.
- Nevada allows a corporation to determine what type of stock it will use, including assessable, non-assessable and bearer shares.
- Nevada corporate by-laws may be changed by directors.
- There is no minimum capital requirement in Nevada
- One person may act as President, Secretary, Treasurer, and Director of a Nevada corporation.
- Nevada allows corporations to conduct business at more than one office and also allows them to hold, purchase, mortgage, and convey real and personal property in any of the state, or dependencies of the United States, the District of Columbia, or any foreign country.
- Nevada corporations can guarantee, hold, sell, assign, transfer, shares of its own stock.
- Nevada corporations may issue stock for labor, services, personal property, or real estate, including leases and options. The directors may determine the value of any of these transactions.
- Your corporate directors may, by majority resolution, designate one or more committees with a director or directors to manage the business of the corporation and have full power.
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