Why Incorporate in Nevada?
Incorporating in Nevada represents an exciting opportunity for many to protect their personal assets from the perils that exist in doing business today. Incorporating is also an excellent way for many to gain possible tax savings and other benefits.
- No State Corporate Income Tax for Nevada Corporations
- No State Taxes on Corporate Shares
- No State Franchise Tax for Nevada Corporations
- No State Personal Income Tax for Nevada Corporations
- Low Annual Fees
All you need to do is read the newspapers to determine that we live in a very dangerous environment for conducting business, or doing much of anything. The risk of getting sued today, especially when conducting your own business, is greater than it's ever been. There are now more practicing attorneys in the United States than everywhere else in the world. While the U.S. has barely 7% of the world's population, we have 94% of the world's laywers. American attorneys work under a system which is not found in any other industrialized nation in the world, and that is the contingency fee system. Under the contingency fee rules, attorneys will file lawsuits without their clients having to put up any money. The successful attorney then takes a percentage of anything he is able to get from the defendant. This percentage, or contingency fee, will typically run in an area of 30-40% of everything that is collected. Is it any wonder then, that attorneys press for very high awards in lawsuits? Only a few years ago, a jury award of a million dollars or more was unusual. Nowadays, however, a jury award of a million dollars is the norm. As a result, lawsuits are more and more common, making this a very dangerous climate in which to do business.
Incorporating one's business is certainly a good answer to protect you from those business lawsuits that come around so often. One need only read the newspaper any day to realize how serious this situation is. Looking at the number of million dollar plus jury awards would lead us to conclude that those on the losing end would now only wish that they had incorporated. You cannot wait until it's too late -- after you have been sued. The time to incorporate is while your legal seas are calm.
Another problem business people experience is ever-increasing taxes. Sometimes it seems that just when you make a little profit, the tax man is there to take it away from you. The government provides benefits to taxpayers who are smart enough to take advantage of them; incoporation in Nevada is one of them. No one is required to pay more taxes than the law requires, and it is through incorporating in Nevada that one can take advantage of many deductions and advantages that the law provides for.
In the end, incorporating in Nevada can save a business person or entrepreneur quite a bit of money and provide that person with personal protection -- both highly desirable in today's business environment. In short, incorporating can benefit you.
All that we do is submitted and performed with the understanding that we are not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a professional should be sought when considering Nevada Corporation.
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