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We’ve compiled for you here material commonly associated with incorporating or forming an LLC in Nevada. While we strive to maintain correct and current information, we cannot guarantee its accuracy and strongly recommend you verify all considerations and consult with a qualified professional before incorporating or forming an LLC.
Business owners interested in privacy and limited liability protection for their business should consider a Nevada corporation or LLC. With corporate laws that are generally considered to be very favorable for small private companies, Nevada is one of the most popular “business-friendly” states.
Not only do business owners who form an LLC or incorporate in Nevada enjoy unsurpassed privacy, they also benefit from an extremely favorable tax climate. In fact, Nevada ranks fourth among states having the most favorable tax climate according to The Tax Foundation’s 2007 State Business Tax Climate Index.
Business structure
- One or more incorporators can form a Nevada corporation.
- A Nevada corporation can have one or more directors who do not have to be shareholders.
- A Nevada corporation must have at least a President, Secretary and Treasurer although one person may hold all officer positions.
- The same person can be the sole director and hold all of a Nevada corporation’s offices.
- Nevada corporation directors can change the corporation’s by-laws.
- A Nevada corporation can, to the extent allowed by law, limit the liability of directors for the breach of their fiduciary duty.
- Both officers and directors enjoy unusual protection under Nevada’s corporate laws.
Location
- Shareholders, directors and officers of Nevada corporations do not have to be residents of Nevada.
- Shareholders, directors and officers of Nevada corporations do not have to be U.S. citizens.
- Nevada corporations are not required to hold meetings in Nevada.
Costs & taxes
- Nevada ranks high among the top 10 states having the most favorable tax climate for businesses.
- Nevada is one of the least expensive states in which to form a corporation or an LLC.
- No minimum capital is required to incorporate in Florida.
- Nevada’s annual charges for corporations are among the lowest.
- A Nevada corporation can issue stock for capital, labor, services, personal property, and real estate (including leases & options) with the board of directors acting as the sole judge of value.
- Nevada has no corporate or personal income tax.
- Nevada has no franchise tax.
- Nevada requires an initial, then annual, filing of a list of officers, directors, and registered agent along with the applicable fee.
Privacy
- Owners, directors and officers of Nevada corporations enjoy unequaled privacy.
- Nevada is the only state that does not provide the Internal Revenue Service with information.
- The names of Nevada corporation shareholders are not part of any public record.
- The name and address of the incorporator(s) of a Nevada corporation are listed in the articles of incorporation.
- The name and address of the initial director(s) of a Nevada corporation are listed in the articles of incorporation.
- Nevada’s requirements for reporting and disclosure are minimal.
Foreign qualification
If you are considering forming your corporation or LLC in Nevada but you will not operate there, your company must foreign qualify in each of the other states in which you will be doing business, and your company must have a registered agent in your state of formation as well as each of the states in which you foreign qualify.
IMPORTANT: MaxFilings always advises you to consult with a professional who is familiar with all current laws and regulations that are applicable in your jurisdiction. And always seek the advice of a qualified “accountant”, “tax advisor” or “financial planner” when addressing tax issues. They are not only very complex but they are also subject to interpretation.
