State Agent and Transfer Syndicate, Inc. Incorporate your LLC (Limited Liability Company) or LP (Limited Partnership) in Nevada today.

Top Five Reasons to Incorporate in Nevada

1)      The Corporate Veil

Nevada protects the corporate veil like no other state. As a comparison, over the last twenty four years, the corporate veil has been pierced in Nevada only twice, while in California, it has happened to fully half of all corporations.

How does Nevada protect you? Unlike a sole proprietorship, in which you are personally responsible for all debts and obligations incurred by your business, a corporation in Nevada is a nearly impenetrable entity as far as creditors are concerned. More so than any other state, Delaware arguably being the second best, Nevada will not only protect you but also the board of directors.

What does it mean to “Pierce the Corporate Veil”? There are three major requirements in Nevada for a corporation necessary to differentiate itself as a separate legal entity from an individual or sole proprietorship. First of all, all of the formalities must be observed by the corporation. Instead of an individual making decisions for a company, a corporation must use written minutes and resolutions as the decision making process. This provides for a paper trail that the courts can refer to regarding any business decision or practice. Second, in no way can business funds be used for personal items. Finally, the corporation must have proper capitalization.

Should any of these three items not be followed, a judge may decide that the corporation is not, in fact, a separate legal entity. Thus, once the corporate veil has been pierced, the courts will view your company as, technically, a sole proprietorship, making you liable for all debts, obligations, and other responsibilities.

2)      No State or Corporate Franchise Taxes.

As long as your company has at least one employee in the state of Nevada,  there are no State or Corporate Franchise taxes.

3)      A Single Individual Can Hold ALL of the Corporate Positions in Nevada

Although many other states require at least three different officers or directors, Nevada will allow one person to hold the offices of the three major positions: President, Secretary, and Treasurer.

4)      The Only Requirement in Nevada to Form a Corporation is a Legal Purpose

In many states, including California, Indiana, Iowa, Louisiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Pennsylvania, Rhode Island, Texas, and Virginia, the state requires a corporation to have a “business purpose” in order to form an LLC (Limited Liability Company). This requirement thus limits the LLC from holding an asset to protect it from a creditor, unless the state deems that the LLC falls into one of their business purpose categories. In Nevada (along with some other states), an LLC can be formed for “any lawful purpose”, and that LLC can then hold personal assets without having to perform any business without effecting business license statutes.

5)      Nevada Has Low Filing Fees

$125 for listing and $200 for business license fees.