04 Aug Why Nevada has the Best Corporate Laws

What are the Nevada corporate laws?

Nevada Corporate laws are the laws incorporated under chapter 78 of the Nevada Revised Statutes, of the U.S. state of Nevada. They were enacted to govern business practices in Nevada and assist businesses to run efficiently.

Why are Nevada corporate laws considered the best?

‘Silver state’ has created a haven for the residential and foreign business owners. This means if you have all the required papers and follow the legal procedure opening a business in Nevada is a piece of cake. You can own a business in the state and not even live there opening the possibilities to everyone, and that is just the tip of the iceberg. The reasons why these laws are considered the best are;

• No personal Income tax
• No taxes on corporate shares
• No equity franchise tax
• No corporate income tax

The law makes even better deals for business owners by being the only state that doesn’t disclose any information concerning your company to the IRS (Internal Revenue Service). Investors are allowed to buy an unlimited stock without being publicly exposed. The stockholders and directors don’t need to be U.S citizens. The law does not tie the business down to holding meetings in the state. Owning your corporation in Nevada is cheap, easy and fast.

Companies registered in Nevada enjoy services that include and not limited to;

• Certificate of good standing- as long as the business is in good standing it can order a certificate of Existence from the Nevada Secretary of State.
• Certified copies of company documents- within 4-7 business days any business in the state can order certified copies of its formation from the Nevada Secretary of State.
• Amendment- an amendment can be filed with the Nevada Secretary of State in order to make changes to the information listed on the company articles.
• Dissolution- the process involves obtaining clearances and consents and filing articles of dissolution. In Nevada, no newspaper publications required when dissolving a company.
• Apostilles- it is required the document to be certified and bear the seal of the issuing agency.

Examples of companies that keep their assets in Nevada are

• MGM Resorts International
• Las Vegas Valley Water District
• Nevada Department of Transportation
• The Cosmopolitan of Las Vegas
• Johnson Electric
• Caesars Entertainment
• The Venetian Las Vegas
• South West Gas Holdings Inc.
• Green Valley Ranch Station Casino
• Oasis Resort Casino Golf Spa
• Adam and Associates Inc.
• Summerlin Hospital Medical Center

The state corporate laws favor all business owners in both the private and public sectors. Nevada has a way of creating a safe environment to investors by guaranteeing them protection. According to the logistics, the laws can only protect you if you own investments in the state but if your business has branches in other states, you are required to adhere to those laws. It is safe to say that Nevada has made a perfect home to business owner so if you have a great idea in mind then now you know where you can give it a kickstart.