Additional Reasons to Incorporate in Nevada

Over the past 11 weeks we have looked at a number of excellent reasons as to why Nevada is the best state in which to incorporate—and we still haven’t covered them all! In addition to all of the reasons previously discussed—and without exhausting the list by any means—here are a few more for your consideration:

Nevada has minimal reporting and disclosure requirements.  The only  public records of a Nevada corporation mandated by statute are its articles of incorporation and its annual lists of officers and directors. It is not necessary in either of those cases for a corporation’s real operator(s) to be disclosed.

Nevada is the only state that maintains a policy of no reciprocity with the IRS. In all other states, information is shared freely and without question. It’s simply built-in to the system, elsewhere.

In Nevada, ONE PERSON may be ALL of a corporation’s officers and its sole director. You do not need to work together with a group of friends in order to establish this shelter for yourself. (However, if you want to maintain the corporation “at arm’s length” to yourself, you might want to avail yourself of the services of an inexpensive “contract director” who can be counted on to uphold the fiduciary responsibility to protect the corporation.)

Stockholders, directors and officers need not live or hold meetings in Nevada, or even be U.S. citizens. Such meetings may be held anywhere in the world. And of course any such meetings are a tax-deductible expense to the corporation, at the IRS-approved per diem rate or as actual expenses, whichever is greater.

Directors need not be stockholders. It is possible to act with the full power and authority of the position of director without having to disclose ownership, if any, in the corporation for which the director acts.

A Nevada corporation may purchase, hold, sell or transfer shares of its own stock. Stock that has been issued and repurchased may be held within the corporation as “treasury shares”.

Nevada corporations may issue stock for capital, services, personal property (presumably not excluding “intellectual property”) or real estate, including leases and options. The directors may determine the value of any of these transactions and their decision is final.

Nevada law allows Bylaws to be changed by the directors. If at any time the corporation’s best interests would be served by slightly different Bylaws—just change them to suit the purpose.

Initial or minimum capitalization is not required. A Nevada corporation can be capitalized with “sweat equity”. Keep in mind that stock may be issued “for services rendered”.