Why Incorporate in Nevada – Low Taxes
I recently attended a luncheon where Nevada’s Secretary of State Ross Miller spoke about why Nevada has become an attractive state in which to incorporate. Chief among them is the low tax climate. Nevada has no state personal income tax; in fact, it’s prohibited by our constitution. Nevada similarly doesn’t charge income tax on domestic or foreign corporations. We also don’t have an estate tax or a franchise tax, which can be a costly startup expense for a new business. Nevada has no gift tax, which allows business owners to pass on their property and money without having to put money in our state coffers. Businesses enjoy no tax on inventory and no tax on corporate shares or LLC membership interests. Finally, our laws are written to limit tax increases, which is great for escalating property taxes.
Delaware has historically been the favored state for incorporating new businesses. Nevada’s Secretary of State is working toward making Nevada just as attractive.
For more information, visit http://www.whynevada.com