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Old 08-21-2016, 06:51 PM
 
2 posts, read 1,007 times
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Greetings Nevadans,

I'm reading up on Nevada corporation tax laws after reading an interesting news article about corporate havens after the Panama Papers thing. Basically, the article states that your money is almost invisible in the states of Nevada and Texas, as they have no agreement of info sharing with the IRS.

My questions;

1. If I started a very small business in NV, where I would be the sole employee, and this company would in turn pay my salary - there would be virtually zero taxes on income? Both for me and the company? They have a $200 annual fee and a 1.17% tax on pay exceeding more than 60k ish, but other than that I can't find anything.

2. No agreement with the IRS doesn't really mean they'll give the IRS the finger if they come knocking?
Scenario: A foreign IRS entity asks the US version (IRS) if they can see the records of my company. They say "we suspect hidden monies". Will the IRS say "sorry, his company is in Nevada, we have no way accessing" or will it be superseding circumstances etc?
(I know this could be hard to answer.)
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