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Nevada has earned the repute of a “corporate haven.” Nevada laws give corporations a lot of benefits. Nevada corporations are actually free from paying many forms of tax such as corporate income tax, personal income tax, capital stock tax, corporate shares tax, and franchise tax. The state charges for corporate federal tax but it’s only as minimal as 15% of the company’s first $50,000 net income.

Nevada Corporations also enjoy many legal benefits. The board of directors has utmost freedom to exercise their authority as a managing body. They also gain security from adverse takeovers and attempts to pierce the corporation veil. In Nevada, the corporation veil may be pierced only if the owners of the company are proven to be guilty of fraud. In the case of a lawsuit, the laws of the state of Nevada will apply only if the company is a Nevada LLC.

Privacy is prized in Nevada. Shareholders can remain anonymous if they choose to be. Nevada has no reciprocity agreement and, though other states share company information to its residents and companies, this kind of arrangement is not imposed to Nevada corporations. In fact, Nevada law presents sanctions to any person who uses the corporate records for intentions that are not in favor of the company’s wishes.