Advantages Of Being Incorporated In Nevada

1. Blog2 - Shieldcorp.net Advantages Of Being Incorporated In Nevada Nevada is a famous corporate haven and Nevada corporations reap the profit of Nevada incorporation. Starting an LLC in Nevada is not an easy task, but once accomplished then it will bring you profit for the whole lifetime of the business. Before going into detail about advantages of forming an LLC in Nevada, let us understand what an LLC is. LLC is an abbreviation for Limited Liability Company. A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that combines the pass- through taxation of a partnership or sole proprietorship with the limited liability of a corporation.An LLC is not a corporation; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs do not need to be organized for profit. The major advantages of forming an LLC in Nevada are: No corporate income tax No taxes on corporate shares No franchise tax No personal income tax No I.R.S. information sharing agreement Nominal annual fees Minimal reporting and disclosure requirements Stockholders are not public record Directors need not be shareholders Directors, stockholders, and officers need not live or hold meetings in Nevada Officers and directors of Nevada corporations are protected against personal liability. Nevada corporations are secured from the piercing of the veil.