Nevada Incorporation: Incorporate in Nevada
Many major corporations have set up their base in Nevada, particularly corporations with their headquarters in California and other western states. Nevada is a haven for all kinds of companies be it public companies which get flexibility or privately held corporations which gets a lot of benefits.
Incorporate in Nevada: Challenges
Some of the common challenges faced by small business owners when they incorporate in Nevada involve understanding the legal structure for incorporation, optimizing tax savings as well as protection against liabilities. Nevada is one of the preferred jurisdictions for incorporation of a company as there are a lot of fiscal as well as legal benefits like asset protection and tax exposure reduction.
The state of Nevada offers tremendous tax benefits for corporations and it does not have business income tax, corporate shares taxes, state corporation tax, franchise tax or inheritance tax. The corporations also need not file state tax returns.
To add to these benefits, the state of Nevada also provides privacy for share information along with asset privacy. There is little requirement for reporting and disclosure policy in the state of Nevada making it conducive for incorporation. The filing of documents for incorporation needs to be done with the Secretary of State.