Forming a Corporation Sole In Nevada - Betting On A Clean Run

November 18, 2004
By Katherine Curtis

The tricks to forming a corporation sole in Nevada involve trust in one's personal affairs and the affairs of the business. Not all business owners want their name tied in so closely with the affairs of a business.

However, some owners weigh the odds and risk it all to maintain the family name, save double-taxation, and keep the business operating on their own terms.

Handing Over A Sole Legacy.
Associating solo with sole would be an error. Most businesses operate solo from the owner. The formation of a corporation sole in Nevada shows no distinction between the two; the owner is liable for the business and the business is tied to the owner. Hence, the term sole represents for one and only. When litigation goes after a sole corporation, the owner's private possessions may be sought as well. In the long run, unless the affairs of the business are kept clean, an owner's reputation may be ruined. Not to mention, keeping away the Big Bad Wolf is much harder when an entity carries the title of Sole Corporation.

The safest way to approach forming an S corporation in Nevada is to contact a corporation service professional. These services expedite the process much faster than if the owner elects to contact the office of Nevada's Secretary of State independently. While the articles and amendments are not hard to come by and cost considerably less many other entities, selecting the correct forms in the correct order can be slightly confusing and very time consuming. Additionally, while a professional team can complete the filing in a few months or less, an owner can expect half a year or more to finish the process on his own.

The benefit of employing a professional team is more than timesaving to the corporation sole; protecting the S Corporation and its owner is much riskier without a professional team. Costs involved in retaining a professional team is much less than loosing it all to invasive claims later on.

 






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