Nevada
Incorporation: How To and Why to Incorporate in
Nevada
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There are a
number of benefits to Nevada incorporation, and
those benefits are enough to make you want to
start your Nevada incorporation process right
away. However, you take some time first to
learn how to complete your Nevada incorporation
properly in order to enjoy the benefits of it.
In Nevada,
the process of Nevada incorporation follows the
basic incorporation process of other states. To
begin your Nevada incorporation process, you
will first need to determine if the name of your
business is available. In order to find out if
your business name is available, you must fill
out a name reservation form with a $25.00 filing
fee. You may also complete this form online at
the Nevada Secretary of State website.
Once you
have a business name, the next step in your
Nevada incorporation process is to name the
initial directors of your corporation. Then you
will need to file formal Nevada incorporation
paperwork, also known as the articles of
incorporation, with the Nevada Secretary of
State office. The articles of incorporation
form will require that you answer some specific
questions for your Nevada incorporation. You
will need to know the names and addresses of
your board of directors or trustees along with
the purpose of your corporation. You will also
have to appoint a resident agent and determine
the number of shares with a par value attached
and without in order to complete the form for
your Nevada incorporation.
The
official Nevada incorporation paperwork is
available online at the Nevada Secretary of
State website. The fee for Nevada incorporation
is $125.00, and is payable to the Nevada
Secretary of State. You will also then need to
develop corporate bylaws and hold a meeting of
the board of directors to ratify the articles of
incorporation. The final step of the Nevada
incorporation process is to issue stock
certificates to the initial owners of the
corporation.
While the
process of Nevada incorporation may be simple,
there is significant paperwork to fill out of
which must be thought out carefully. However,
the paperwork will result in your Nevada
incorporation, which brings with it significant
benefits. For instance, you will not have to
pay a corporate income tax nor are there taxes
on corporate shares with Nevada incorporation.
Also, there is no franchise tax nor any personal
income tax, either.
Besides the
tax benefits, there is no I.R.S. Information
Sharing Agreement and minimal annual fees.
However, the benefits do not end there. Nevada
incorporation means that there is little by way
of reporting and disclosure requirements and
stockholders are not subject to public record.
Plus, stockholders, directors, and officers do
not need to live in Nevada, nor do they need to
be U.S. citizens. Nevada incorporation also
adds the benefit that officers do not need to be
stockholders and they can be protected from
personal liability through Nevada
incorporation.
There so
many benefits to Nevada incorporation, that
taking the time to fill out the Nevada
incorporation paperwork can work in your favor.
The tax benefits and lack of personal liability
alone may be reasons to start your Nevada
incorporation process right away. However, take
the time to read over your paperwork closely to
make sure that Nevada incorporation is right for
your company.
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