In the past, the state to incorporate a business in was Delaware. Recently, however, Nevada has become the popular place to do so, with officials altering legislation to make the state more business- and corporate-friendly to entice small business owners.
One of the biggest benefits to a corporate profit or LLC profit is that Nevada has no franchise or personal income tax, Entrepreneur
magazine reported. Since the state holds such a large portion of the casino industry, it has some of the lowest taxes nationwide.
Business owners are also offered anonymity in Nevada, as it has no IRS Information Sharing Agreement, the purpose of which is to combat tax avoidance - an issue the state doesn't have.
Nevada has a wide variety of benefits for an incorporating
business, but it also comes with a number of cons. Many companies incorporate
within the state as a way to achieve illegal goals, such as hiding assets. Nevada has an undeniable stigma when it comes to incorporation
, but this can be avoided, because on a day-to-day basis, most people will never know where your company is incorporated.
This article is brought to you by Vcorp Services
– specializing in the review and preparation of entity formations
. From obtaining a tax identification number to preparing Articles of Incorporation
, Vcorp Services can get your business off the ground.
Vcorp Services assists in the creation of new businesses and helps maintain existing businesses in
all 50 states. Quick, accurate and at the lowest rates, Vcorp's knowledgeable and experienced staff
has helped form thousands of new businesses including: LLCs, S-Corporations, C-Corporations,
Partnerships, Non-Profits and Professional Corporations. Vcorp works with entrepreneurs, legal and
tax professionals, as well as real estate experts to set up and maintain businesses across the
country. Vcorp also specializes in helping small businesses to get started, grow and remain in
compliance with federal and state regulations.