Friday, August 9, 2019

How You Can Easily Incorporate In Nevada

By Edward Cooper

Starting your own business is a dream come true for anyone who has the opportunity to do so. It takes a lot of planning and hard work to get the company off the ground. Lots of decisions need to be made, including where to legally register and incorporate your business. Nevada has laws on the book that make it easy to incorporate in Nevada, so this is a route you should seriously consider taking.

Nevada is a beacon for many people to incorporate there, and for good reason. First, the laws and regulations surrounding taxes are very favorable for business owners. Not only is there no franchise or equity tax, but there is also none on corporate incomes and shares. In addition, there is no state income tax, which makes workers want to flock to the state.

There are several steps you must take in order to formally incorporate your business in Nevada. The first sounds like the simplest and easiest, but should still be done with a lot of thought and reverance. The first step is to name your company. In order to be sure there is no other business with the same name, you can conduct a name check online to ensure your new moniker is unique.

Before the company can take flight, you will need to install a staff. In particular, the state wants you to find your director or managers. They must all be at least 18 years of age and do not have to actually reside in Nevada, so your leadership can be in other states or even countries if that is what works for you.

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.

The state of Nevada is not the only entity with rules and laws on the books regarding running a business. Depending on what city or county you are setting up in, there may be other regulations, licenses and permits that you must get to start your business.

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.

Now you can finally begin conducting business once your licenses come through. Of course, you must still file an annual report and pay the fees associated with it. In addition, there is an annual licensing fee that must be paid. An LLC pays $150 for the list filing and $200 for each yearly license renewal. Corporations are a little different and must pay $150 per year for the list filing, but $500 per annum for the license.

Though your managers or directors do not have to reside in the state, you do need to have an actual physical location and some employees who do call Nevada home who work there. An address and phone number within the state boundaries is a must, so you should find a realtor to help you scout locations so you can put the final touch on your official incorporation.

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