Nevada Tax Advantages

The best state in the country overall for business is Nevada as quoted in California Business magazine. The magazine published the results of a 50 state survey which showed the pastures really are "greener on the other side of the state line."

Here are some simple tax facts. In Nevada, there are fewer taxes and a lower tax burden than in most other states. That's why Nevada is on every list of the top tax havens. Money Magazine has ranked Nevada as one of the states with the lowest tax bill and California Business magazine rated Nevada as best overall for business based on a review of several factors including a low tax burden. In Nevada, there is:

  • No franchise tax
  • No corporate income tax
  • No personal income tax
  • No gross receipts tax
  • No capital stock tax
  • No stock transfer fee or tax
  • No tax on corporate shares
  • No tax on sale or transfer of shares
  • No requirements for shareholders & directors to live in NV
  • No succession tax
  • No inheritance, estate or gift tax
  • No unitary tax
  • No special intangible tax
  • No chain store tax
  • No admissions tax
  • No inventory tax

Nevada Values Your Privacy

Many corporate strategies can be worked through in Nevada thanks to the privacy laws that govern ownership and control of corporate structures.

  • Stockholders, directors and officers need not live or hold meetings in Nevada, or even be U.S. Citizens.
  • Directors need not be Stockholders.
  • Officers and directors of a Nevada corporation can be protected from any personal liability for lawful acts of the corporation.
  • Nevada corporations may purchase, hold, sell or transfer shares of its own stock.
  • Nevada corporations may issue stock for capital, services, personal property, or real estate, including leases and options. The directors determine the value of any of these transactions, and their decision is final.
  • Piercing of the Corporate Veil does not happen in Nevada as it does other states.
  • Nevada courts have a history of case law protecting the "corporate veil", making it the most difficult in the country to pierce.Nevada courts have allowed the piercing of a corporate veil once in the last 21 years, and that was due to fraud resulting in harm to a Nevada resident. The case was Rowland v. LePire, 99 Nev. 308, 662 P.2d 1332 (1983)
  • A Nevada corporation may be formed for the sole purpose of limiting a person's liability in any lawful business venture.
  • The use of "bearer shares" is prohibited in Nevada.

For more information on Nevada Tax Advantages, contact Jeff Quinn at Ashley Quinn CPA's and Susanna Kintz at Shadek Reese

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