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Why Incorporate in Nevada?
Nevada has many outstanding benefits arising from its pro-business environment
steming from Nevada’s excellent asset protection, privacy and tax laws. To
give your business a competitive edge, consider Nevada for the following reasons:
Asset Protection
Although incorporation 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 stockholders of the Corporation are. Nevada incorporation provides beneficial owners with unparalleled asset privacy. Nevada’s reporting and disclosure obligations are lighter than any other state.
- You have the ability to use Nominee Officers and/or Directors to keep your name off public records deterring asset searches.
Nevada courts have pierced a corporate veil only one time in the last 21 years, and
that was because of fraud resulting in harm to another party. There has never been
a case in which a Nevada corporation has been pierced when the corporation has
been run properly. Nevada courts have developed a strong record of case law,
which protects the corporate veil, making it one of the most difficult in the
country to pierce.
Nevada law allows for the most minimal capitalization of a corporation, thereby
removing this as a means of piercing a corporation’s protective shield.
Capitalization can be done with tangible or intangible property, including services
to be rendered to the corporation in the future.
Tax Advantages
Nevada has always had a very attractive tax structure for businesses and
individuals. Tax benefits for businesses include:
- No corporate tax, no state tax return - share information is private
- 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 is the only state which does not share information with the Internal Revenue Service by means of formal agreement.
- Nevada does not require the filing of an amended list of officers or directors if new officers or directors are elected or appointed after filing during the year.
- Nevada requires NO statutory minimum capitalization at the time of start-up.
- Through broad empowerment allowances, Nevada law specifically provides for a corporation’s principals to be given control over such things as the establishment of stock privileges, voting rights, the issuance of shares, etc. through provisions in the articles. These infuse the directors with tremendous flexibility and control over the affairs of the corporation since major changes in policy and procedure can be accomplished through an amendment of articles rather than relying solely on the statutes.
- 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.
- Your corporate Directors may, by majority resolution, designate one or more committees with a director to manage the business of the Corporation and have full power.
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