For many 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. More and more people choose to incorporate there because of the friendly conditions offered by that state.
Why Nevada?
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. More and more people choose to incorporate in Nevada because of the friendly conditions offered by that state.
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, minimal maintenance and disclosure requirements, maximum privacy, maximum liability protection for corporate officers and directors, ease of establishment and inexpensive filing fees, Nevada has become the obvious choice for those wishing to incorporate themselves and their business activities.
Advantages of Incorporating in Nevada
Here are some advantages of incorporating 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.
What Is Limited Liability and Why It Is Important?
Limited liability is a way to make sure that a person who is engaging in business does not risk his or her personal possessions in case the business fails. In other words - you risk what you put in.What Is Corporate Veil And How It Can Be Pierced
If you are a business owner, one of the most significant reasons to incorporate or form a limited liability company is to protect your personal assets from a business creditor's claims against your company. This ability of a properly-formed maintained company to shield its owners from personal liability is sometimes referred to as the "corporate veil."Closing a Chapter: Dissolution of Your Legal Entity.
Various reasons could lead to the business dissolution, such as bankruptcy, retirement, or change in career direction. When an entity is no longer doing business, it is very important to follows the legal steps in "winding itself up" as a legal entity.