Nevada Corporations: Myth vs Reality
You may have heard a lot about Nevada billed as the ultimate solution for incorporation. In theory, it sounds great – asset protection, privacy protection, and tax benefits all rolled into one.
Unfortunately, most of the people still pushing this concept either have outdated information or are trying to con you out of some extra fees.
In recent years, the state has taken quite a beating. It’s not the do-all end-all it once was.
Usually when people want to form a Nevada corporation, they’re after these benefits:
1. To save on state income taxes, and/or
2. To conceal ownership of the company
Sometimes people also say they want their Nevada corporation because of the state’s excellent entity laws or they want to utilize what’s called a “series LLC.”
On the surface these sound like great reasons, but the reality reveals a dangerous half-truth. To really understand if a Nevada corporation is right for you, we need to look at each of the benefits in more detail.
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To protect your wealth you might think all you need to sleep well at night is a few corporate structures, some offshore investments, and a crackerjack lawyer to dance past anybody who tries to sue you.
Your privacy is protected.
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