Nevada Corporation Commissioner - If It Sounds Too Good To Be True, It's No Lie In Nevada

November 9, 2004
By Katherine Curtis

If the Nevada Corporation Commissioner told you that your business doesn't need to pay corporate income tax, would you think you were speaking to Snow White's arch-nemesis?

You can rest assured you weren't hearing evil. According to laws upheld by the State of Nevada and its departments, an incorporated business in the Sagebrush State does not need to pay corporate income tax. The main department and its head commissioners are located in the Department of Business and Industry (DOBI).

The top commissioner of DOBI is more commonly called the Secretary of State. DOBI contains several divisions; one of which is the Corporations Division. One role of Nevada's corporation commission is to oversee this department's formation of incorporations and study the state's corporation trends.

Breaking The Evil Queen's Mirror.
Which is the most debtor-friendly state in the USA and attracts more incorporation? If the Evil Queen controlled the mirror, she'd jump to the conclusion that it was her reigning state. However, the reigning debtor-friendly state in the USA is South Dakota. Nevada is very close behind. Still, Nevada attracts more incorporation since the climate and location is more conducive to business. Hence, more foreign and out-of-state businesses elect to establish their practice through Nevada's Secretary of State.

The commissioner of Nevada also watches Nevada's small business activities. The state conducts several reports and surveys to determine the state's health and progression. According to the commissioner's reports, California businesses elect to incorporate in Nevada more than any other state and other foreign businesses. One attractive feature of Nevada's corporation environment is the state's corporate veil, which detours evil-like schemes from affecting a corporation's assets and the owner's personal belongings.