Great State for crooks! with money to hide, launder, etc.
Nevada’s tax structure is also a large benefit to incorporation in Nevada.
Nevada has no franchise tax.
It also has no corporate income tax or personal income tax.
While Nevada likes to promote that there are “no corporation taxes” in the state, there is an annual $200 “Business License Fee” which is paid to the Secretary of State’s Office at the time of formation or renewal of the corporation.
Nevada additionally applies a 1.17% tax on gross wages to most businesses with a payroll over $62,500.
Nevada and Texas are the only two states that do not have information sharing agreements with the Internal Revenue Service.
In addition there are,
• No state corporate income tax, franchise tax, personal income tax, or taxes on corporate shares
• No IRS information-sharing agreement (although other states’ incorporation laws often supersede Nevada law in certain cases)
• Low annual fees and minimal reporting/disclosure requirements
• Stockholders, directors, and officers are not public record, not required to reside or hold meetings in Nevada, and are not required to be US citizens
• Directors not required to hold stock
• Officers/directors are protected from personal liability for lawful acts of the corporation
• Corporations may purchase, hold, sell, or transfer shares of its own stock
• Corporations may issue stock for capital, services, personal property, or real estate, including leases and options
• Directors may determine the value of any transactions; their decision is final once determined