NEVADA INCORPORATION
ONLY US$525
Did you know you don't have to live in Nevada to take advantage of its favorable tax laws?
Although Boss Business Services can incorporate your business in any state, there are many tax and asset protection advantages of Nevada business entities. We will educate you on the tax and asset protection advantages and implications of establishing your business entities in Nevada and other states.
That's why Boss is rated number one for service, because we take the time to educate before we help you incorporate. In fact, since 1993 Boss has provided education and business structuring advice to thousands of entrepreneurs and investors around the country, teaching them important concepts with regard to maintaining corporations, limited partnerships, limited liability companies and trusts.
Advantages to Incorporating in Nevada
Lower taxes
Greater asset protection
More privacy
Minimal reporting and disclosure requirements
Nominal annual fees
Low cost - for a small annual fee you can incorporate in Nevada and receive all the rights of a corporation.
One-person corporations - it only requires one person to hold the offices of president, secretary, treasurer, and sole director. There's no need to bring others into a Nevada corporation if you don't want to.
No minimum capitalization amount - some states require at least $1,000 in capital. Not in Nevada.
No residency requirements - form your Nevada corporation by mail, phone, or e-mail. There's no need to live in or hold meetings in Nevada, or even be a U.S. citizen.
Tax advantages - no corporate income tax, no taxes on corporate shares, no franchise tax, no personal income tax, and sales tax only applies to products sold within the state.
Privacy - Nevada doesn't ask for or track data on corporate stock ownership and allows for vice-president anonymity.
Stock shares - Nevada corporations may hold, purchase, sell, or transfer shares of its own stock. They may also issue stock for services, capital, personal property or real estate.
Officers and directors - Nevada corporation officers and directors can be protected from personal liability.
Self-Dealing - a law only allowed in Nevada that has saved Boss clients millions of dollars. It allows a director of a corporation to vote on an issue in which they have an interest and will benefit. Even if a lawsuit is presented in another state, that state must interpret and apply the laws of Nevada, providing superior asset protection.
Ask yourself this question, “What single thing could cause me to lose everything that I have worked my entire life for?” Only one thing can cause this and that is the grossly litigious society in which we currently live. The prospect of contingency fees on large judgments has attorneys everywhere searching out reasons to sue people just like you and me.
It is commonplace for people just like you to say “I am not going to get sued; I don’t do anything to hurt anyone.” Ask yourself the following questions:
Do you drive a car?
Do you own a home?
Do you own a business?
Do you have children?
Do you have rental property?
Do you have repairmen and other invitees on your property?
Do you have animals?
Do you participate in sports?
Do you borrow money?
Do you use credit cards?
If you answered yes to any of these questions, then you stand to be sued. While almost depressing, it is a fact that on average each of us will be involved in four lawsuits during our lifetime. Further, that more than 98% of those lawsuits will be settled out of court in order to avoid the time, money, frustration and uncertainty that bringing a lawsuit to trial creates.
How Do You Stop this Atrocity?
Make it nearly impossible for creditors to reach your assets. By moving your assets into limited liability entities such as the Limited Partnership or Limited Liability Company you effectively move those assets beyond the reach of creditors. In fact you create a situation whereby, through what’s known as a charging order, your creditor may end up paying your taxes.
Maybe even more important is that by doing exactly the same thing, moving your assets into a limited liability entity, you are making yourself appear worthless. You might ask yourself why you would want to appear worthless, but the answer is simple. When someone goes to a plaintiff’s attorney in hopes of suing you, that attorney goes through a two-step process. The first step is to ascertain the merit of the case and the likely hood of obtaining a judgment. The second step is to determine whether that judgment can actually be collected or not. If you appear worthless no attorney worth their weight is going to be willing to take the case on. What better form of asset protection could you ask for, not being sued at all!
Tax Reduction
It is no secret in many countries that business entities enjoy a significantly different and more beneficial system of taxation. This is true of every type of business entity available today. Each one provides its own type of benefit and so choosing the business entity that is right for you is crucial.
You have probably heard repeatedly that you could save a bundle in taxes by moving your money offshore. You have probably heard that by doing so you will never have to pay taxes again. Wrong! What you have heard are promotions that are illegal and will land you in jail. You are required under federal law to completely disclose all of your offshore holdings and income and pay taxes on them in the U.S. Consider instead an onshore corporate haven, Nevada.
Nevada does not have any state corporate income tax and is the only state in the country that does not share information with the IRS. This gives you the ability to save money legally through valid expenses and deductions. Benefit from section 179, asset expensing; section 162, ordinary and necessary business expenses; and the ability to reimburse yourself for out of pocket medical expenses. And the list goes on.
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