Form a Nevada Corporation
How to Form a Nevada Corporation
If you form a Nevada Corporation, you will be taking a great step towards safeguarding your personal assets. By default a corporation presents a barrier between debts of the business and personal assets. This barrier can be penetrated by the courts, so the business must be kept in good standing and follow all state, local, and federal laws. You can read on to learn more about the advantages in incorporating in NV.
Limit Liability by Forming a Corporation
When you incorporate in Nevada, you are limiting your personal liability by separating your business assets. When you operate your new corporation you must ensure that all transactions for your business are conducted separate from you the person. You can find yourself personally liable for any and all debts and obligations of the business that you personally guarantee.
Naming your Corporation
The name proposed for a corporation must be distinguishable on the records of the Secretary of State from any other corporation. The name of the Corporations will have as its end either “corporation”, “incorporated” or its abbreviation. Unlike most states, Nevada will allow companies with the same name if they are of different entities. Generally, the Secretary of State will ignore words such as “the”, “and”, “a”, “an” etc. when determining availability.
Nevada Registered Agent is Required
If you are looking to file for a corporation you must have a registered agent in Nevada. If your business is physically located in Nevada, then you can serve as your own registered agent. If you are filing in Nevada, but your business is not physically located in Nevada, then you will need to have a registered agent service for your corporation.
Tax advantages of Forming a Nevada Corporation
It is common for a NV business to incorporate for tax reasons. Some of the tax advantages of incorporating are: No Corporate Income Tax, No Taxes on Corporate Shares, No Franchise Tax, No Personal Income Tax, No Franchise Tax on Income. These benefits can lead to taking advantage of some great tax advantages of incorporating.