Whether you are starting
a new business or growing your current one, you are faced with many options for incorporation and formation. With tax ramifications
and liability concerns to consider, an experienced attorney can help you understand how your choices will affect the future
of your business.
OR FORM AN LLC IN NEVADA?
Nevada has no corporate
No taxes on corporate shares.
No franchise tax.
No personal income tax.
IRS information sharing agreement.
Nominal annual fees.
Minimal reporting and disclosure requirements.
Privacy: Stockholders are not of public record. Stockholders, directors, officers, members and managers
need not reside in Nevada. Directors or managers do not have to be stockholders or members.
managers are protected from personal liability for lawful acts of the business.
In Nevada only one person is required
to file a corporation or LLC.
Incorporators do not have to be residents of the state of Nevada.
NEVADA VS. OFFSHORE
Nevada offers a high degree of privacy, but
also offers ready access to funds and other assets, whereas offshore assets are not readily accessible in emergencies. Also,
beware that offshore accounts are a red flag with the IRS, and the failure to properly report them in tax filings may constitute
a serious criminal violation. On the other hand if they are properly reported, they may trigger audits. For this reason they
are best avoided.
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HUGGINS & MAXWELL, 4001 S. 700 E.,
Woodland Tower, Ste. 500, Salt Lake City, Utah 84107