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In general
Nevada has become
increasingly friendly to corporations with its privacy and liability protection status as well as certain tax advantages. Nevada
has no state tax on corporate profits, no state annual franchise tax, or no state personal income tax. Stockholders of a Nevada corporation are not public
record, allowing complete anonymity. National Business Incorporators, Inc. can assist you with incorporating or forming your LLC in Nevada and qualify
your corporation or LLC in any state you choose.
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Advantage
to choose Nevada:
Incorporating a LLC
(Limited Liability Company) in the state of Nevada has
the following benefits not found in other states including CA:
* No Corporate Income Tax (for state of NV but note there is a US Federal
corporate tax of 15% for the first US$50K profit)
* 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
* Stockholders, directors and officers need not live or hold meetings
in Nevada, or even be U.S. Citizens.
* Directors need not be Stockholders
* Officers and directors of a Nevada corporation can be protected from personal liability for lawful acts of the corporation.
* Nevada corporations may purchase, hold, sell or transfer shares of its
own stock.
* Nevada corporations may issue stock for capital, services, personal property, or real estate, including leases and options. The directors
may determine the value of any of these transactions, and their decision is final.
Note there is no longer
a restriction for limiting to just 20 members for LLC. This has been lifted. LLC is similar to Singapore's Pte Ltd company
whereby there is no personal liability of members.
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Time required:
It'll be within 3
business days for incorporation of the company depending
on the Secretary of State's constraints really.
Share capital
required:
There is no minimum
share capital for NV LLC. When we incorporate, it will
be zero share capital as no shares are issued.
Note for LLC, it's
called membership. There will be membership certs
(similar to share certs).
Note: Corporations
have less favourable tax rules (like double taxation) and tedious record keeping. That's why LLC are so popular.
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Opening deposit
for bank account:
The minimum opening
deposit for a bank account is US$100. Monthly fee is
US$20 if less than US$5,000 Average Daily.
Application includes
internet banking with online bill payment. Can view
statements and move funds between intrabank account and do TT transactions.
Yearly maintenance
and penalty:
The yearly maintenance
for NV LLC is US$195 (commissionable at 15%) + state
fees US$85. Note there is a penalty for late filing which is US$50 charged
by the state. Please bear in mind that standard filing means it'll take
about 40days by the Secretary of State. So for renewal, client has to
do at
least 2 months in advance or pay for expedite fees varies from $50 to
$500
for 2hrs service.
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Registered
address:
The NV registered
address is used strictly for government notices &
correspondences. If client needs it as a mail drop for others, we'll have
to
make arrangement and there is a fee involved. So if client wishes to use
registered office address for invoicing, arrangements will have to be
made.
Invoice issuance:
Any invoices issued
using a US address is taxable when there is a profit and
it's going to be difficult to avoid tax as there is a paper trial. If
it is
a U.S. company then it is subject to U.S. taxation on its world-wide profits
(not NV state but US Federal tax). However meticulous records will have
to
be maintained for the Internal Revenue Service.
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