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Nevada Corporations - Government Is Creating a Business Friendly
Environment
Nevada - Government with Vision
January 11, 2005
By Tom SeFack
The State of Nevada's government official programs
to attract companies from other states to incorporate
in Nevada is bearing its fruits. Number of established
companies is either expanding or even relocating to
form new Nevada corporations. Government of
Nevada has even created geographically targeted campaigns,
one of them named Nevada to the Rescue specifically
for California companies. The Government is touting
Nevada's cost advantages on worker's compensation,
utilities and family leave rules, and number of California
companies has already heard to the calling.
The Government of Nevada is doing all they can to attract new businesses
to the state for a long time already. Nevada is known globally as
a tax and business heaven, thanks to the government's long-term
strategy on establishing the state as one having very liberal tax
and commercial laws.
As one of the state's agencies, Nevada Secretary of State, puts
it bluntly on the official webpage, the further reasons to incorporate
in Nevada are no corporate nor personal income tax, no taxes on
corporate shares, no franchise tax, no information sharing agreement
with Internal Revenue Service, nominal annual feels, stockholders
not being a public record and minimal disclosure and reporting requirements
for Nevada corporations.
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.
Another good sign of the assistance the government gives to boost
the development of the state is the number of services available
via the internet, including the forms for corporations filing, checking
all kinds of information about existing corporations or company
name check that is also available online.
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