Why Nevada LLC or Corporation ~ Credit Pathway

Why Nevada is One of The Best States To Form Your Business

The state of Nevada offers some distinct advantages for businesses above and beyond the average state in the country, that causes one to most certainly consider forming a Nevada LLC or Corporation.

Nevada LLC's and Corporations:

No state business income tax
No state on corporate or member shares
No gift tax
No franchise tax
No estate tax
No inventory tax
No individual income tax
No excise tax
Very low payroll and property tax
Maximum privacy
No restricting government regulation

MASSIVE NEVADA ADVANTAGES

Unlimited Issuance of Shares of Stock - It is common for a state to limit the shares of stock that you can issue. In Nevada you can issue an unlimited number of shares of stock without any additional fees or filings. This of course can make a massive difference if you are taking your company public.
One individual For Everything - In Nevada you can for instance be the director, president, secretary, treasurer, vice-president, ceo, coo, member, manager, etc. This gives one the definitive level of flexibility and control.
Privacy and Anonymity - The only information that is required to be disclosed is the name of a single member or director. No disclosure of any assets is required which is very unique.
Minimal Formalities and Government Restrictions - Much like the other preferred business states, as discussed in a previous post, if you are looking for less restrictions then this is one of the states for you to consider.
Extremely Low Annual Fees - You only pay the minimum annual fee of $350 which is significantly
No Individual Liability For Corporate Debts - The scope of the law within the state is essentially and generally that provided no willful violation of the law has ensued, that an individual cannot be held liable for corporate debts.
Zero Minimum Capitalization Required - Your LLC or corporation can be funded with as little as $1 to as much as you desire. Of course this lends itself to a greater level of control and flexibility in as much as you and only you will dictate the levels of funding that your business maintains.
Corporate Meetings Can Be Held Anywhere - You can literally run your business without ever stepping into the state of Nevada. Your place of meeting will be dictated by your bylaws and does need to be within the state of Nevada.
"Anything of Value" May be Exchanged for Stock - The board of directors can approve the issue of stock in exchange for anything of value such as property or even services.
Series LLC's - If your business is that of holding assets such as real estate and you would like to hold all assets within a single llc without a single asset affecting another, consider Nevada's unique series which allows you to essentially you to build shields within the llc that isolate one from another in the event of creditor issues.
Nevada Business Court System - Nevada has its own unique court system for businesses that massively streamlines and cuts costs and red tape for the purposes of overall benefit to businesses.
Transfer Your Corporation or LLC into Nevada - You can as an option move your corporation or llc into Nevada by filing forms without dissolving your entity.

Photo by traveladdicts.com

**Remember each and every Corporation and LLC actually exists and resides within their bylaws or operating agreement which is the heart and soul of a corporation or llc. Without good, solid by-laws or operating agreement, you really do not have a corporation or llc.

***This blog is for educational purposes only and as such you are advised to seek out and consult with your legal and tax advisors prior to engaging in any decision making affecting your business.