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| | | | Nevada Corporations In many cases a Nevada corporation is our first line of defense. Why is this? Well, there are a multitude of reasons why a Nevada Corporation can be useful. Following is a list of some of the reasons. A. It is a tax-free state.
Just no tax! B. It is the only state in the Union that does not voluntarily share information with the IRS or with any other state. C. It is the only state that allows for bearer shares. Whoever holds them owns them. The stock does not need to be registered in anyone's name. D. There is no personal liability. On March 13, 1987 the Nevada Legislature passed legislation that indemnifies directors and officers from personal liability for act committed on behalf of the corporation or by the corporation. The names of owners or stockholders of Nevada corporations are not a matter of public record. Only the officers names are made public. Creative planning can remove your name as an officer or director. Uses for a Nevada Corporation Use your Nevada Corporation as a supplier, advertising agency management company, lending institution, equipment lessor, premises lessor, employee leasing company, or some other use that is necessary for your business. Your Nevada Corporation now bills you for the services provided. It will generally add some amount to the bill for its service costs and overhead. Thus you are able to transfer some of your profits to a tax-free state! EXAMPLE: Have your supplier invoice your Nevada corporation for products that you normally purchase. Let's say that the invoice is for $50,000. Your Nevada corporation will pay the bill and bill your local company $75,000. Bingo! $25,000 of profits have been shifted to a tax free state. Major US corporations have used these tactics for years. Not only within the United States but worldwide. Have you ever noticed that many credit card companies bill out of South Dakota? That is because South Dakota is a tax free state. EXAMPLE: Have the Nevada Corporation put a lien on your major assets such as your home, rental property, or business property. Now, there will be no equity. If someone should come snooping around looking for a deep pocket, they won't find it. The Nevada Corporation can hold trust deeds, or UCC-1 filings. Remember. A corporation has a lower tax rate than an individual on the first $125,000 of income. National Business Incorporators, Inc.
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