| Incorporating In Nevada |
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| Monday, 18 September 2006 | |
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One of the most important decisions in establishing a business is whether or not to incorporate. Once the decision has been made, the next major question becomes "how does a business become a corporation?" In the state of Nevada, the procedure is somewhat straightforward.
The initial process for incorporation is name selection. Business names may be reserved through the Nevada Secretary of State for up to 90 days to allow for the additional paperwork to be processed. This may be done either through a traditional form sent directly to the Nevada Secretary of State for a fee of $25 or online for a fee of $50. Once the name has been selected and reserved, the incorporation packet must be sent to the state. This packet includes the Articles of Incorporation, the Registered Agent Acceptance Form, initial list of officers, and the filing fees. Samples of these forms and a complete list of fees involved with the process are available online from the Nevada Secretary of State. The packet is then reviewed and entered into state records. The process may take up to several weeks to complete. Expedited services are also available which can reduce the processing time greatly. Nevada welcomes new businesses and offers several benefits to its corporations not offered by other states. These include no corporate income tax, no taxes on corporate shares, and no franchise tax. Additionally, there is no personal income tax and no IRS information sharing agreement. |
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