Nevada State

Nevada Corporations

California Business Magazine, ranked Nevada’s business climate #1 over-all, and Money Magazine ranked Nevada’s tax climate the third lowest in state & local tax burden.

Significant changes to the Nevada Private Corporation Law have been enacted, by the Nevada Legislature. The changes were implemented in order to increase the flexibility and attractiveness of Nevada corporate law, and to represent a continuation of Nevada’s increasingly successful effort to attract corporations to that state.

Currently, Nevada corporations offer outstanding and unique opportunities for privacy, protection, and profits by taking advantage of Nevada state tax and business laws in the following areas:

1.       No State Corporate tax on profits or major annual fees

2.       No State personal income tax

3.       Protection from personal liability

4.       Stockholders’ name are not public

5.       Directors can change corporate bylaws

6.       Stockholders are not required to be U.S. Citizens

7.       An individual can be sole President, Secretary, and Treasurer

Additionally, Nevada is the only state without a reciprocal information exchange program with the Internal Revenue Service, thereby rendering it especially attractive to some corporations or individuals who want to legally protect their privacy.

Corporate reporting requirements in Nevada are very attractive in that only the names and addresses of officers, directors and resident agent are required on an annual basis, and the annual list of individuals may change after the filing date. Meetings can be held anywhere in the world, at the option of the directors, and the tax deductible expenses can be paid by the corporation.

About the Author

Steven Sears, Attorney and CPA offers Asset Protection and other services in Irvine, CA. For more information, visit: http://www.corpadvisor.com

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