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TOP 10 REASONS TO INCORPORATE IN NEVADA
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- Save on Taxes. While all entities are subject to federal income tax, Nevada is one
of only four states with no corporate income tax. This is a significant savings as Pennsylvania, for example, taxes levies a 12.5% corporate tax on corporate profits. Additionally, Nevada does
not have a franchise tax,
- Inexpensive. Once you have formed your Nevada entity, which is also a relatively
inexpensive process, the annual fees to keep your entity in good standing are very nominal. The current annual fee is only $125.00, plus resident agent fees.
- Anonymity of Ownership. Nevada does not require the stockholders to be
named in the corporate filings. Additionally, Nevada is one of the only states that does not have a formal information sharing agreement with the Internal Revenue
Service. What this means to you is that in general, neither the public, nor the IRS, will know who owns your Nevada entity.
- No Residency Requirement. A person need not be a resident of Nevada, or even a citizen of the United States, to form a Nevada entity. However, your Nevada
entity must have a resident agent who resides in Nevada.
- Protect your personal assets. A properly formed and maintained Nevada entity
can effectively protect your personal assets from liabilities of your business entity. What this means to you is that if your business fails, you simply dissolve or bankrupt
your Nevada entity and go onto your next venture. You are not personally responsible for the debts of your entity.
- No Third Parties Required. It only takes one person to form a Nevada entity and he or she can serve in all of the required corporate positions (i.e. stockholder,
director, president and secretary). However, your Nevada entity must have a resident agent who is a full-time resident of Nevada.
- Limited Liability for Officers and Directors. A Nevada entity can be protected
from personal liability arising out of their lawful acts.
- No Cash Capitalization Requirement. You do not need to fund your Nevada entity with cash. A Nevada entity can be funded by issuing stock for capital,
services, personal or real property and its Directors may determine the value of any of these forms of capital.
- No Formal Meeting Requirement. Stockholders, Directors and Officers are not required to hold their meetings in Nevada. In fact, they can hold their meetings
telephonically and can even pass resolutions through unanimous written consent if they so choose.
- Expeditious. The Secretary of State of Nevada can generally process your corporate paperwork within ten (10) days. Additionally, for faster service you can
pay an additional fee of $50.00 and they will process your paperwork within 24 hours.
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