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Old 01-07-2008, 01:08 PM
 
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 6,948,895 times
Reputation: 2109

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Let me preface this by saying that I have run a decent (yet small) biz for almost 8 years now. It's doing well and am very happy with it. It's incorporated as an LLC in MA.

However I've oftened wondered about the advantages of incorporating in NV. Much of what I've read deals with very favorable terms as it relates to corporate tax and protection of the privacy of the share holders and officers.

I'm *not* attempting to defraud the IRS or anything like that- which is what some people that I've heard talk about incorporating in NV as their primary motivator (the supposed non-sharing agreement NV has with the federal IRS).

I'm interested in starting another small company (actually for my wife) and this time around we're exploring all options. Yes, I can talk to a lawyer (which I did the first time) but quite honestly the advice wasn't worth the $1K paperwork filing fees the first time around. I'm not saying legal advice from an attorney wouldn't be good, I would rather get some first hand feedback from those that have a NV based biz and/or are familiar with the NV system.
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Old 01-07-2008, 01:35 PM
 
Location: Houston, Texas
10,424 posts, read 46,069,314 times
Reputation: 10436
No. Maybe a few more then other states. Nevada is not as business friendly as the Chamber of Commerce tells the tourists hoping to lure them here to live. Oh yes it is better then California.

As a Nevada small business owner I can show you more hidden fees then you can shake a stick at. The best part is sending all these fees to Phoenix. I hear ya all giggling out there.

Yet another complaint is the red tape just to get a business license. You see about 5 different departments proving this and proving that before being sent to zoning. And when you finally feel like a criminal, they stamp your papers......and then finally the cashier window. Now you feel like you passed the test.

You already know that Delaware is #1 to register a corporation. It always has been and probably always will. I think it cost me $100 back in about 1984 to register. It is all perfectly legal. It does not matter where the business operates.

Im not saying Nevada is the worst. It just sure is not what you read in the Business Journals.

Good luck on your new venture.
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Old 01-08-2008, 12:56 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 34,663,644 times
Reputation: 2661
DesertSun points out that operating in Nevada requires business licenses and such. That has nothing to do with using a Nevada LLC.

In general the Nevada LLC is as owner friendly as any anywhere. The Nevada tax situation on LLCs is equal to or superior to any. There are many that feel the Nevada LLC statutes are overly owner friendly and should be made somewhat more transparent.

The advantage of Delaware deals with business wise courts. If you are likely to be involved in much litigation Deleware is the place. Otherwise Nevada is probably as good as it gets.
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