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Why Incorporate in Nevada

The number one reason to incorporate in Nevada is the protection it avails to the owners of the Corporation, be it a Stock held Corporation or a Membership held Corporation (LLC) the owners are not the appropriate party to a law suit. Nevada has by far the best laws to protect the owners. The corporate veil in Nevada has been pierced only twice in the last 26 years, and both cases involved outright fraud.

NRS 78.257 imposes sanctions against the use of corporate records for purposes contrary to the interests of the stockholders.

• OFFICERS & DIRECTORS are protected from personal liability for lawful acts of the corporation.
• MAY ISSUSE STOCK AND CAPITALTALIZE WITH, SERVICES, PERSONAL PROPERTY or REAL ESTATE.
• MEETINGS CAN BE HELD ANYWHERE IN THE WORLD
• OFFICERS,STOCKHOLDERS, and DIRECTORS, may be NON-RESIDENTS OR CITIZENS

Advantages of Incorporating in Nevada

• No Nevada State Corporate Income Tax
• No Nevada Taxes on Corporate Shares
• No Nevada Franchise Tax
• No Nevada Personal Income Tax
• No I.R.S. Information Sharing Agreement
• Nominal Annual Fees
• Minimal Nevada Reporting and Disclosure Requirements
• Stockholders are not Public Record
• Stockholders, directors and officers need not live or hold meetings in Nevada, or even be U.S. Citizens.
• Directors need not be Stockholders
• Officers and directors of a Nevada corporation can be protected from personal liability for lawful acts of the corporation.
• Nevada corporations may purchase, hold, sell or transfer shares of its own stock.

Nevada corporations may issue stock for capital, services, personal property, or real estate, including leases and options. The Managers (for LLCs) or Directors (for Corporations) may determine the value of any of these transactions, and their decisions are final. Because Nevada has no state tax, and because budget-conscious Nevada does not keep much information on their own residents or their corporations, it does not collect any information to share with the IRS. Other states freely exchange all of the information they have on every resident and corporation but Nevada has no reciprocity arrangement with the IRS.

My business is in another state.

The reason you still will want to headquarter your business in Nevada is because of Nevada protection laws will follow into your own state. If a law suit comes at your company they are going to have to bring that suit to Nevada. This is a very expensive proposition, most law suits will stop right there because of the expense. They will have to prove fraud, harder yet. In fact, there were other Nevada cases where the corporation didn't do resolutions, minutes and meetings, had thinly capitalized the company, commingled funds... and still, Nevada protected the corporate veil! Nevada is a pro-business state, meaning they strongly protect the business owner. Other states are more Pro Consumers.

Too Many Lawyers

In the last few years there has been an explosion of practicing lawyers in this country. In 1990 there were approximately 650,000 lawyers in this country, today over 1 million. What seems to be happening in this country as soon as an individual starts to get ahead the frivolous law suits come out of the wood work, when you can spill coffee in your own lap and win a settlement ( Mc Donald's Case), this may seem like a legitimate way to make a good living. When lawsuits are being considered what they (lawyers) are looking for is assets that are attackable. They are hoping you will just pay them off so they will go away, they really do not want to go to court. Meanwhile it costs approximately 5000.00 just to answer a suit and that does not mean going to court. These will really cut into your bottom line, if too many of them show up it can put you out of business. If you have a visible business in your part of the country you may have to register your Nevada Corporation in your State in order to do business. Going through the process may well be worth the effort. This will usually cost somewhere between 300.00 and 700.00 to do the registration.