For years Nevada claims to be the “incorporating capital of the west”, and to support that claim it has spent more than a decade developing the appropriate legal infrastructure. Determined to establish itself as a leader in incorporation, Nevada had completely revised its Corporate Code in 1987, and again in 1991, making the entire incorporation process quicker and more efficient, with greater liability protection than ever before.
Unlike Delaware that targets larger corporations, Nevada positioned itself more suitable as a home for small, privately held corporation. With no corporate taxes of any kind, maximum liability protection for corporate officers and directors and ease of establishment Nevada has become the attractive choice for those wishing to incorporate themselves and their business activities.
That being said, recent political and fiscal developments in Nevada, which brough introduction of expensive Business License and Initial List filing requirements, as well as outrageous renewal fees and rough treatement of delinquient businesses, have significantly reduced the attractiveness of the state. Wyoming became the state of choice for many businesses that traditionally incorporated in Nevada, and many established Nevada businesses are choosing to change the corporate domicile to Wyoming, thanks to the friendly domestication laws in Wyoming.
Here are some facts dealing with forming a company in Nevada:
Nevada is one of the three states commonly recognized as “corporate heavens”, the other two being Delaware and Wyoming. Before making your choice please see our article that runs a comparison DE vs. NV. vs. WY.
This article is not intended to provide any tax advice or direction. None of information contained on this web site is intended to constitute legal or other professional advice, and you should not rely solely on the information contained on the site for making legal decisions. When necessary, you should consult with an attorney for specific advice tailored to your situation.
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