For one thing there is the stigma that goes with Nevada – good, bad or indifferent – people just assume when you have a Nevada company that you are trying to hide something. Which is the reason Nevada companies get so much bad press.
Nevada companies get audited at a much higher frequency that any other State.
The fees in Nevada are higher. State license is $200 – $500 – and item #12 says “you must list ALL officers, directors, shareholders and members. First/last name, DOB, SSN, home address, home phone number and percent of company owned.” There goes privacy!
Nevada has a Commerce Tax! Not all business are required to pay the tax but all business MUST file a Commerce Tax return each year to keep business active. When you total all the fees up – will cost between $800 – $1000 yr to just keep your entity active and in Good Standing.
Wyoming has the strongest asset protection laws of any State.
Wyoming is the first State in Union to recognize LLC back in 1977.