|WHAT DECISIONS SHOULD YOU MAKE BEFORE INCORPORATING?
Start with selecting the type of entity you want and why you want it. It could be close corporation, general-corporation, non-stock corporation, limited liability company, limited partnership, trust. However, do not become or stay a sole proprietor because you are personally liable for everything and you will have to personally guarantee all credit.
Determine what type of package would suit your needs to reach your goals. It could be forming a corporation to help finance your business using corporate credit or/an protect your a assets.
You need to select the name and corporate name. Keep in mind that your name cannot contain the words such as "insurance", "trust", "university", “bank", or "college." Most corporate end in words such as: Corporation (or Corp.), Incorporated (or Inc.), Company (or Co.), and Limited (or Ltd.). You can only use endings such as LLC, L.L.C., or Limited Liability Company for LLC’s.
Keep in mind that if you are doing significant business in a state other than Nevada, call, fax or email AZBusiness Corp so we check the name availability of your new company name because you will have to get it to qualify to do business.
|WHERE TO INCORPORATE?
It all depends on whether you want privacy or not. There are many reasons why Nevada is the leading choice for businesses looking for privacy.
There are a tremendous amount of advantages to incorporating in Nevada. Here are some of the major ones:
First of all, one person can be all the officers of a Nevada Corporation
20 REASONS NEVADA IS THE CHOICE FOR CORPORATE AMERICA
1) Ease of Formation: Nevada corporation can be formed by calling AZBusiness Corp via phone, fax or internet.
2) Residency: You do not have to be a resident of Nevada or a U.S. citizen to own and operate a Nevada corporation. You can even operate a Nevada corporation anonymously.
3) Nevada is Tax-Free: No corporate income tax / No corporate income tax / No franchise tax / No Capital stock tax / No tax on corporation shares / No estate tax / No inventory tax / No personal income tax / No stock transfer fee or tax / No inheritance tax / No gift tax
4) State Record Privacy: Nevada has no Information Sharing Agreement with the Internal Revenue Service
5) No Minimum Capitalization Requirement: A Nevada corporation can be capitalized without any cash or tangible property if desired, other than necessary costs of starting up a corporation.
6) Direct Control: One person can hold the offices of president, secretary, treasurer, and be sole director. Many states require at least 3 officers and directors.
7) Flexible Transfer of Shares Laws: Nevada corporations may purchase, hold, sell or transfer shares of it's on stock.
8) Stock Valuation Control: The directors may determine the value of any class or series of stock to be sold by the corporation, and their decision is final
9) Business Friendly Legislature: Nevada's corporate code was substantially revised in 1991, making the entire incorporation process quicker, more efficient, and creating greater liability protections and privacy for corporate principles than ever before. Nevada's Legislature remains committed to the goal of keeping Nevada a business friendly state.
10) No Estate Taxes In Nevada: Shares owned personally by non-residents of Nevada are taxed only in the state in which they live, not by Nevada.
11) Ease of Meeting Requirements: With proper notification, stockholder and directors of a Nevada corporation may act by unanimous consent in lieu of formal meetings.
12) Flexibility of Distribution Rules: Nevada corporations can pay dividends out of profits as well as surplus.
13) Diverse Operations: One corporation can conduct different kinds of business. If the documents filed for the Nevada Corporation have the broadest type "purpose clause" any legal business activity may be conducted.
14) Corporate By-Laws: The director(s) have the power to make or alter by-laws.
15) Limitation of Liability: Officers, directors and shareholders of a Nevada corporation can be protected against personal liability when acting on behalf of the corporation.
16) Inexpensive Operation and Maintenance: The annual filling fee for a Nevada corporation is only $125 a year.
17) Flexible Financial Control: There is no usury law in Nevada, meaning a corporation may charge as much interest as they see fit for loans made to other parties.
18) Powerful Corporate Shield: There has never been a case in which a Nevada corporations' veil has been pierced when the corporation has been properly run. In fact, the Nevada courts have very rarely pierced a corporate veil in the last 20 years and in such cases it was due to defraud resulting in harm to another parson.
19) Anonymous: You can incorporate anonymously in Nevada.
20) History: There is a long-established body of laws that protect the corporations in Nevada and help them focus on doing business, rather than litigating disputes.
WHERE DO I GET HELP WITH GETTING INCORPORATED?