Wyoming is now preferred
Nevada on July 1st of this year increased corporate renewal fees from $325 to $650 (it was $75 a few years ago), why allow this taxation, when you can retain the same benefits for far less? Here are your options to reduce these fees, you may convert your corporation to Wyoming and pay $50 per year or convert your corporation to an LLC in Nevada and pay the $325 annually plus conversion cost which is expensive or convert (which is a continuous filing) to Wyoming and pay $50 a year for annual renewal, the initial cost of a continuous filing is $525 (includes all cost in Nevada and Wyoming including RA). There may be expedite fees if your in a hurry. Please read on see Why Wyoming if you are doing business exclusively in Nevada you probably will need to continue with your Nevada entity in Nevada.
Inc Legal Services offers a unique combination
of professional services including filing
with services such as
Business Bank Accounts and
(virtual) and providing Director
or Trustee Services, our financial consulting
services include accounting, organization and contractual
Inc Legal Services
are designed to meet the needs of clients from all over the globe.
Inc Legal Services has enjoyed success providing our clients
with specialized planning for asset protection and privacy by assisting
our clients with management consulting in the income tax-free state
of Wyoming/Nevada. We can answer your questions: Why incorporate in Nevada
or should I use Wyoming? What are the reasons for choosing an LLC or a
corporation? No (reasonable) question goes unanswered. Wyoming also offers
protection to Corporations.
Charging Order by Inc Legal Services
Main Advantages of Incorporating in Wyoming and preferred to Nevada
For small and medium size businesses, Nevada was the preferred jurisdiction in which to incorporate. Incorporating in Wyoming gives access to a series of fiscal and legal benefits. Asset protection and tax exposure reduction are the two primary reasons that people choose to incorporating domicile is critical. Domicile means "primary resident", not to be confused with "registered agent". When converting to Wyoming you may retain your Nevada address (see Office Presence) as well as EIN and banking.
The first main consideration when deciding whether to incorporate in Wyoming/Nevada is the effect on tax exposure. Wyoming and Nevada offer corporations outstanding fiscal advantages. Wyoming/Nevada do not have a business income tax, corporate shares taxes, state corporate tax, franchise tax, or inheritance tax. However, Nevada now has a state business license which is like a tax with penalties. Furthermore, these entities do not have to file state tax returns and shareholder information is held private.
One advantage of Wyoming/Nevada corporations provide owners with beneficial and unparalleled asset privacy. reporting and disclosure obligations are lighter than in any other states.
In Wyoming and Nevada the shareholders of a standard corporation may consist of any number of individuals of any nationality, and/or any number of Corporations. Shareholders' identities are protected in Nevada. Any individual or Manager, as a Director or Officer in a Wyoming/Nevada Corporation, is protected from personal liability for acts committed on behalf of the Corporation, by the Corporation.