There are a number of benefits to Nevada incorporation, and those benefits are enough to make you want to start your Nevada incorporation process right away. However, you take some time first to learn how to complete your Nevada incorporation properly in order to enjoy the benefits of it.
In Nevada, the process of Nevada incorporation follows the basic incorporation process of other states. To begin your Nevada incorporation process, you will first need to determine if the name of your business is available. In order to find out if your business name is available, you must fill out a name reservation form with a $25.00 filing fee. You may also complete this form online at the Nevada Secretary of State website.
Once you have a business name, the next step in your Nevada incorporation process is to name the initial directors of your corporation. Then you will need to file formal Nevada incorporation paperwork, also known as the articles of incorporation, with the Nevada Secretary of State office. The articles of incorporation form will require that you answer some specific questions for your Nevada incorporation. You will need to know the names and addresses of your board of directors or trustees along with the purpose of your corporation. You will also have to appoint a resident agent and determine the number of shares with a par value attached and without in order to complete the form for your Nevada incorporation.
The official Nevada incorporation paperwork is available online at the Nevada Secretary of State website. The fee for Nevada incorporation is $125.00, and is payable to the Nevada Secretary of State. You will also then need to develop corporate bylaws and hold a meeting of the board of directors to ratify the articles of incorporation. The final step of the Nevada incorporation process is to issue stock certificates to the initial owners of the corporation.
While the process of Nevada incorporation may be simple, there is significant paperwork to fill out of which must be thought out carefully. However, the paperwork will result in your Nevada incorporation, which brings with it significant benefits. For instance, you will not have to pay a corporate income tax nor are there taxes on corporate shares with Nevada incorporation. Also, there is no franchise tax nor any personal income tax, either.
Besides the tax benefits, there is no I.R.S. Information Sharing Agreement and minimal annual fees. However, the benefits do not end there. Nevada incorporation means that there is little by way of reporting and disclosure requirements and stockholders are not subject to public record. Plus, stockholders, directors, and officers do not need to live in Nevada, nor do they need to be U.S. citizens. Nevada incorporation also adds the benefit that officers do not need to be stockholders and they can be protected from personal liability through Nevada incorporation.
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