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.
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.
In order to get your company incorporated properly and legally, you must take several steps. The very first one is to name your company. That may sound easy, but you want to make sure that you do an online check to make sure that name is not taken. Before that, make sure the name is attractive and reflects what your company really does, so that it is easier for you to attract potential customers.
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.
Once the paperwork is filed, you must begin securing all your necessary permits and licenses. Depending on what city you are planning to locate the company, there may be several licenses or permits that are needed, as well as regulatory rules that must be met.
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.
As previously mentioned, the directors or managers do not have to reside in Nevada. However, you must have staff who do reside there, which means that you do need a physical office or storefront location along with a working phone number. You can find a realtor to help you find the best location, then make sure you list it on your annual report.
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.
In order to get your company incorporated properly and legally, you must take several steps. The very first one is to name your company. That may sound easy, but you want to make sure that you do an online check to make sure that name is not taken. Before that, make sure the name is attractive and reflects what your company really does, so that it is easier for you to attract potential customers.
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.
Once the paperwork is filed, you must begin securing all your necessary permits and licenses. Depending on what city you are planning to locate the company, there may be several licenses or permits that are needed, as well as regulatory rules that must be met.
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.
As previously mentioned, the directors or managers do not have to reside in Nevada. However, you must have staff who do reside there, which means that you do need a physical office or storefront location along with a working phone number. You can find a realtor to help you find the best location, then make sure you list it on your annual report.
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.
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