If you’re in business and have assets over $50,000, you need to make sure you adequately protect yourself because:
– One in every four small businesses has been sued or threatened with a lawsuit in the past five years.
– There is one lawsuit filed every 2.08 seconds – the equivalent of the blink of an eye.
– One lawsuit can damage or destroy your livelihood, forcing you to close your doors.
Just cause is not a per-requisite to lawsuits any more.
One of the main reasons for incorporating is to limit the exposure of your assets to business losses. Incorporating separates corporate activities from personal assets. This is true in any state.
The bullet-proof protection inherent in Nevada corporations, however, takes it to a new level, making it virtually impossible for creditors and litigants to get at your hard-earned assets.
That just might be the main reason there were over 40,000 incorporations in Nevada last year alone. It looks like more and more business-savvy people are discovering the tremendous advantages that complete protection offers!
Unlike most other states, there has never been a case in which the corporate veil was pierced in Nevada, except in the instance of fraudulent activity. This means your personal assets receive maximum protection when separated from business activities by a Nevada corporation.
Nevada’s Supreme Court consistently stands strong on preserving this protection, even when a corporation fails to maintain basic corporate formalities (though we strongly recommend you do so)
Tax Savings
Pro-business Nevada, unlike almost every other state, has taken a stand!-
– No taxes on corporate or citizen income.
– No hidden corporate taxes, such as franchise taxes, capital stock taxes, or inventory taxes.
– Sales tax applies only to products sold within the state.
– Corporate federal tax payable is only 15% on the first $50,000 of net income.
This almost sounds like capitalism, doesn’t it?
Low Cost
Nevada is one of the lowest cost states in which to incorporate. Nevada only charges a filing fee of $85 per year. (Note that these fees are subject to change.) For a mere $85 annually, Nevada will give you the right to all the benefits of a Nevada corporation.
No Minimum Capital Requirements
A Nevada corporation can be organized with very little capital, if desired. Many states require that a corporation have at least $1,000 in capital.
One Person Requirement
One person can hold the offices of President, Secretary, Treasurer, and be the sole Director. Many states require at least 3 officers and/or directors. Thus, there is no need to bring other persons into a Nevada corporation if the owner does not desire it.
No Need To Come to Nevada
A corporation can be formed by mail, fax, or phone and the person incorporating never has to visit the state, even to conduct annual meetings. Meetings can be held anywhere in the world at the option of the director(s).
If you’re looking to incorporate, Nevada (with its business-friendly environment) is the only way to go. Learn more today with the essential business handbook “Nevada Edge Book” , covering strategies for asset protection, tax savings and more.
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