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We at ILS offer a unique combination of professional services; including complete filing preparation for Corporations, Partnerships, LLC's, and Trusts; with services such as Setting up Business Checking Accounts, Office Identity (virtual) we also offer Director Services, our financial consulting includes accounting, organization and contractual preparation. Inc Legal Services services are designed to meet the needs of clients from all over the globe. We have 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 states 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. We should mention Wyoming does not offer corporate charging order protection.
Main Advantages of Incorporating in Wyoming and Why is it preferred to Nevada!
For small and medium size businesses, Nevada was the preferred jurisdiction in which to incorporate. Now Incorporating in Wyoming gives equal access to a series of fiscal and legal benefits with asset protection and tax exposure reduction being the two primary reasons that people choose to be incorporated. Then comes the companies Domicile which means "primary resident", not to be confused with "registered agent". When incorporating or converting to Wyoming you may retain your current address (see Office Presence) as well as EIN, banking and original filing date, you then reduce the annual state renewal cost from $650 to $50.
The first main consideration when deciding whether to incorporate in Wyoming/Nevada is the effect on tax exposure. Wyoming and Nevada offer corporations with outstanding fiscal advantages. Wyoming/Nevada do not have 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 and increases based on income with high penalty rates. Also in these jurisdictions Corporations do not have to file state tax returns and shareholder information is held private.
Another advantage of Wyoming/Nevada incorporating; the shareholders (owners) are provided with beneficial and unparalleled asset privacy, reporting and disclosure obligations are lighter than in 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 both states. Additionally the Managers, Directors and/or Officers in either Wyoming/Nevada Corporation, are protected from personal liability for acts committed on behalf of the Corporation, by the Corporation.