Nevada State Corporation
By incorporating your business, you can experience reduced taxes, protection of personal assets, and may be able to get some fringe benefits. These benefits may include annuities, life insurance, medical reimbursement plans, deferred compensation, and retirement plans. Certain states provide more advantages for incorporating than others. Nevada has been considered one of the best locations to incorporate for many years, but Wyoming has recently taken over as the prime spot.
Nevada state corporations are generally desirable because Nevada does not impose a personal income tax, franchise tax, or taxes on corporate shares. The reporting and disclosure requirements are minimal and the annual Nevada corporation fees are generally fairly high. However, you must be careful when incorporating in Nevada, because certain costs may be hidden until after the process has been completed. This along with many other Nevada incorporation disadvantages are why Wyoming is a better location.
The primary reason for forming a Wyoming corporation is the amount of tax savings that can be accumulated. Corporations encounter outstanding fiscal advantages in Wyoming. They will not experience business income, corporate shares, state corporation, franchise, or inheritance taxes. Furthermore, corporations are not required to file state tax returns or share information that is private.
When you incorporate in Wyoming, you will be able to experience all the benefits of incorporating in Nevada–and a few extra benefits–without the added costs. In Wyoming, stockholders, officers, and directors of state corporations do not need to reside or even hold meetings there. In fact, you can reside anywhere in the world without penalty when you incorporate in Wyoming.
If you are curious about more reasons to incorporate in Wyoming as opposed to incorporating in Nevada, contact us here at Wyoming Corporate Services. We guarantee that Wyoming is a better location to incorporate. In Wyoming, you won’t experience the hidden charges or poor relationships that can be found in Nevada. Avoid hidden Nevada incorporation fees and get in touch with us today to make the most of your new corporation.