Tips on Nevada Incorporation 

Because the process of incorporation has been very successful in the state of Delaware, other states like Nevada have followed suit. Companies are setting up business here, since Nevada has established itself a fast, simple and practical process of incorporation in the last decade. In recent years, taxation laws and corporate laws have been modified to attract more investors. Nevada has been very successful in inviting business owners to invest in their state, that it may have already overtaken Delaware's reputation for being the corporate capital of United States.

Indeed there are plenty of incentives available to businesses in Nevada and here are some facts you should know about it:

1. At least twenty percent of business in Nevada is operated by non-residents or have the status of a foreign corporation. In Nevada, you don't need to be a local to hold office in the state. You don't even have to be a US citisen. This provision also applies to the directors, officer and stock holders of a Nevada corporation.

2. Small businesses can thrive in Nevada. The minimum number a corporation must have in terms of having officers or directors is equal to just one person. There is no need to hire other people to serve as board members or directors or corporation officers. Additionally, small businesses are required no minimum capital for it to be incorporated.

3. Nevada requires from corporations minimal annual reporting and unlike other areas, the state also does not require information sharing with the IRS. This means that the state has the option to keep information with the IRS. Names of stockholders are also not on public records, to protect privacy. Nevada recognises that this is important to the business.

Officers and directors are also protected from liabilities. The individual is separate from the acts done by the corporation, provided that these are legal and lawful actions.

4. Corporations in Nevada may issue stocks as an exchange for service rendered, personal properties (including real estate) and other options. The value of these stocks will be determined by the director of the corporation.

5. Nevada offers a rewarding tax break benefit to its businesses.

• There is no corporate income tax
• There is no tax on corporate shares
• Unlike other states, there is no franchise tax in Nevada
• There is also no personal income tax

The combination of all these tax breaks, as well as the nature of your business, will result to a very substantial amount of savings that you will need in your expanding business.

6. Once you have decided to fully invest in Nevada you will need to do the following:

• Seek a business name. Have that business name reserved, registered or copyrighted.
• Register either us a C corporation or an S corporation or a non-profit corporation. Each of these categories holds different benefits and liabilities.
• Have your incorporation kit prepared. This should have pertinent documents like shareholders' meetings, list of officers and their duties, etc.