If you are building or expanding your company, you may wish to maximize your budget an profits in order to stay strong. That means incorporating in a state with laws and regulations that are conducive to doing this. If this is the case, consider taking the necessary steps to incorporate in Nevada, because they have some very easy and advantageous regulations regarding business and corporations.
The reason so many business owners decide to incorporate in this state is because there is absolutely no taxes on corporate income or shares. There is also no franchise taxes or equity transfer penalties. In addition, there is no state income tax, which means that you can attract top employees since their salary goes much further there.
For proper incorporation that is legal, you must complete a list of steps, the first of which is simply to give the business a name. You will want to think long and hard on this, to ensure it is something that is easy for customers to remember and will attract future customers as well. Then, you must do an online name check to ensure no other company has selected and is currently using the name.
Then, you must recruit your staff, particularly your managers if you are building an LLC or directors if you are starting a corporation. You must, by law, have at least one direct who is 18 years of age or higher. They do not have to be Nevada residents, which lets you cast a a much longer line for talent.
After you have your directors or managers, it is time to file your paperwork with the state. Corporations file something called Articles of incorporation and LLCs file Articles of Organization. Either way, they must be filed with the secretary of state.
Each city has particular permits and licenses that you may need to procure. Now is the time to do that, after the paperwork has been filed. There may also be other laws and regulations that need to be followed at all times, so be cognizant of that as well.
Nevada requires that you show proof that you are keeping business funds separate from personal ones, which is why you must start a separate corporate bank account. Proof of this separate account must be furnished upon request.
Once all this is done, you can begin conducting business. However, each year you are required to file an annual report with the state. You must also renew your license each year, which does come with a fee. If you are a corporation, then the cost is $150 per year for filing the annual list and $500 for your license. If you are an LLC, then the cost is $150 for the annual list filing and $200 for the license renewal.
One more thing to remember before you open for business is that there are realtors who can help you find a physical location to open. Your annual filing must include your company's physical address and phone number, and a realtor can help you find that address. Even though your directors don't have to work there, you will need local employees to do so.
The reason so many business owners decide to incorporate in this state is because there is absolutely no taxes on corporate income or shares. There is also no franchise taxes or equity transfer penalties. In addition, there is no state income tax, which means that you can attract top employees since their salary goes much further there.
For proper incorporation that is legal, you must complete a list of steps, the first of which is simply to give the business a name. You will want to think long and hard on this, to ensure it is something that is easy for customers to remember and will attract future customers as well. Then, you must do an online name check to ensure no other company has selected and is currently using the name.
Then, you must recruit your staff, particularly your managers if you are building an LLC or directors if you are starting a corporation. You must, by law, have at least one direct who is 18 years of age or higher. They do not have to be Nevada residents, which lets you cast a a much longer line for talent.
After you have your directors or managers, it is time to file your paperwork with the state. Corporations file something called Articles of incorporation and LLCs file Articles of Organization. Either way, they must be filed with the secretary of state.
Each city has particular permits and licenses that you may need to procure. Now is the time to do that, after the paperwork has been filed. There may also be other laws and regulations that need to be followed at all times, so be cognizant of that as well.
Nevada requires that you show proof that you are keeping business funds separate from personal ones, which is why you must start a separate corporate bank account. Proof of this separate account must be furnished upon request.
Once all this is done, you can begin conducting business. However, each year you are required to file an annual report with the state. You must also renew your license each year, which does come with a fee. If you are a corporation, then the cost is $150 per year for filing the annual list and $500 for your license. If you are an LLC, then the cost is $150 for the annual list filing and $200 for the license renewal.
One more thing to remember before you open for business is that there are realtors who can help you find a physical location to open. Your annual filing must include your company's physical address and phone number, and a realtor can help you find that address. Even though your directors don't have to work there, you will need local employees to do so.
About the Author:
Learn why you should incorporate in Nevada by reading our online guide. The website that contains further info can be accessed at http://www.nevadadiscountregisteredagent.com/why-should-you-incorporate-in-nevada.
