INCORPORATION IN NEVADA - BENEFITS YOUR BUSINESS CAN EXPECT

2007-03-08 10:33:40

( Business )



Once you have made the decision to incorporate your business, the next logical step would be to determine your entity’s state of incorporation. In the past, the choice was obvious. Pick the state where your headquarters is located and majority of your operations are conducted. However, times have changed. The increased desire to maximize financial returns and guard assets has made incorporation in Nevada the most popular option among business owners and investors.

Just like in any other state, incorporation in Nevada can be executed several ways: you can pay a visit to the State Office and do the incorporating yourself, hire an attorney, or engage an incorporating services provider. You can also incorporate online and submit the necessary information to your incorporating service company over the Internet.

But what makes Nevada different? Nevada is one of the most incorporation-friendly states. Numerous benefits are offered to existing and new businesses that incorporate in Nevada.

Nevada implements privacy laws that protect the identity of stockholders. Hence, the names of shareholders are not public record.

Corporations and individuals are not subject to income taxes. There are also no franchise, estate or capital stock taxes.

Members of the Board of Directors need not be stockholders. In addition, directors, officers and stockholders are not required to reside in Nevada or be American citizens. Meetings may also be held anywhere.

Nevada strongly defends the corporate veil. If your corporation is sued for wrongful acts, Nevada provides you the best chance of avoiding personal liability.

Nevertheless, be reminded that incorporation in Nevada will not completely insulate you from punishment. Therefore, your company must still observe corporate formalities and adhere to legal business practices

Whether you are going to incorporate a small business or a large company, you should select the state where costs are minimal, but the advantages are substantial. With its pro-business policies, it is not unreasonable to assume that Nevada is on top of your list.


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