Nevada is one of the top states to incorporate your business in. Here are 16 reasons why you should consider incorporating in Nevada:
1. The corporate veil is well protected
2. Nevada offers the best protection of board of directors from shareholder lawsuits
3. Protection for the board of directors and officers
4. No state corporate or franchise taxes
5. Low fees
6. Only requires thin capitalization
7. Need only legal purpose to form a corporation or LLC
8. One person can hold all the corporate positions
9. Members are not required to be listed in state records
10. The list of officers only needs to be updated annually
11. No joint and several liabilities
12. US citizenship nor state residency is required and meetings do not need to be held in Nevada
13. Stock may be issued for services
14. Nevada corporations may transfer, hold, sell or purchase shares of their own stock
Protection from having your corporate veil being pierced is one of the main reasons Nevada is quickly becoming one of the most popular states to incorporate your business in. Nevada offers the best protection out of any other state when it comes to protecting your corporate veil.
Only six states offer protection to both the directors and officers of the company. Nevada has a law that you can place in your Articles of Incorporation that eliminates the personal liability of officers and directors. In order for the shareholders to sue the board they must prove gross negligence.
It’s easy to see why Nevada is quickly becoming the most popular state to incorporate in. To reduce business risks consider incorporating in Nevada. Laughlin Associates can assist in asset protection planning when you incorporate in Nevada. Laughlin Associates is set up to handle all of your incorporating business needs. If you have any questions don’t hesitate to get in touch.
By: Shannon John
Marketing Manger, Laughlin Associates, Inc.
14 Reasons to do Business in Nevada by Steve