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You can reduce your tax exposure and make your assets bullet proof if you incorporate in Nevada, the business friendly state. Nevada Corporations, Asset protection strategies, Nevada LLC - let Nevada Corporate Headquarters assist with incorporating your business.
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| Nevada Corporate Headquarters, Inc. | Small Business Blog |
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Category
Legislative Updates
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What is the bottom line? If half of our clients choose not to maintain their existing Nevada entities because we price ourselves out of the market, it will cost Nevada FIFTEEN MILLION DOLLARS PER YEAR in lost renewal revenue - or $30 million per biennium. This does not account for the State Business Licenses that will not be renewed, amendments that will not be filed, certificates that will not be ordered, etc. It also does not account for the precipitous drop in new business filings that we will also see.
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They are from the government, and they say they are here to help.
An important piece of federal legislation was introduced in Congress recently by Sen. Carl Levin (D-Mich), Sen. Barak Obama (D-Ill) and Sen. Norm Coleman (R-Minn) that purports to plug what they perceive to be a critical hole in our nation’s security: using business entities [...]
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The National Conference of Commissioners on Uniform State Laws (NCCUSL) met a couple of months ago for their 115th Annual Meeting in Hilton Head, South Carolina and approved a new version of the Uniform Limited Liability Act to be submitted to states for consideration and adoption.
Generally, when NCCUSL recommends a “Uniform” act, they desire state [...]
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The Board of Equalization has ruled that an LLC registered in Montana was doing business in California solely because the managing member was a California resident (Appeal of Mockingbird Partners LLC (May 17, 2006) Cal. St. Bd. of Equal. Case No. 306061). This is the second taxpayer to lose on this issue in the past [...]
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The Nevada Department of Taxation has announced that “due to technical difficulties” they have been unable to mail out current Business License renewal notices. No penalty will be assessed on June or July 2005 renewals where no renewal notice has been received. In the interim, the Department is telling customers to send in a check with [...]
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Legislative initiatives don’t deal with the real issues
By Steven Miller, policy director, Nevada Policy Research Institute
Here in Nevada the political class endlessly professes its dedication to getting our public schools out of their seemingly interminable rut.
It’s clear, of course, why elected politicians are so eager to appear responsive on this issue. When parents see evidence that [...]
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One of the positive changes made by the Nevada legislature during its 2005 session was the adoption of statutes the provide for the creation of a “series LLC”. The concept of a series LLC was first invented in Delaware a couple of years ago, and has since been adopted by Oklahoma, Iowa, and now, Nevada.
The [...]
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SB 453 was passed out of conference committee without the provision that would have given closely-held Nevada corporations the benefit of charging order protection for stockholders. On advice of staff, and at the request of the former chairman of the business law section of the Nevada Bar Association, the committee determined that additional study regarding [...]
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SB 453, which was introduced as a technical clean-up bill by the Nevada Secretary of State’s office, has been amended in the Nevada Senate to include the language which provides charging order protection for stock of closely held Nevada corporations which have between 2 and 75 stockholders. The bill was approved by the Senate unanimously [...]
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Nevada had a minimum-wage question on the ballot last year to increase the minimum wage by $1. But was that only something to kick the minimum wage in Nevada up a dollar? Many people thought so, but a lot more was at stake than the news media let on.
According to the Nevada Policy Research Institute, that [...]
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When the Nevada legislature passed it’s tax bill at the end of the 2003 session, it included a “live entertainment tax” that was intended to generate revenue from live events such as NASCAR races at the Las Vegas Motor Speedway and Celine Dion concerts, etc. However, it was discovered that creating a definition of “live [...]
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Senate Billl 127 was introduced in the Nevada legislature today, which creates an exemption from the annual $100 Nevada business license for small businesses that gross no more than 2/3 of the Annual Average Wage for the prior year. Previously this exclusion applied only to home-based businesses, but now the exclusion would apply to all [...]
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The proposal by Utah Gov. Huntsman to repeal the state corporate income tax which was killed in the Assembly last week has re-surfaced in the Senate. I haven’t seen the new bill, but it is supposed to be very similiar to the original proposal that would have phased out the corporate income tax over several [...]
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Charles E. Chinnock, Executive Director of the Nevada Department of Taxation, testified before the Assembly Ways & Means committee this morning that he predicts that compliance audits under Nevada’s new tax structure to increase from approximately 1,800 per year at the present time to over 3,000 audits per year by next year. Chinnock also reported [...]
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Yesterday, Republican legislators gutted the proposal by Gov. Huntsman that the Utah corporate income tax be phased out by 2012. Apparently, legislators were shaken by a poll conducted by Salt Lake media that showed that 66% of respondants oppose the plan. Of course, that is the very same media that is quick to point out [...]
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The tax discussion in Nevada gets more entertaining with every incoming report of projected revenues. Last Saturday, a group of economists from the Nevada Policy Research Institute (which I support, by way of full disclosure) issued a report that stated that the 2003 tax hike was not necessary and that the Governor and the Legislature were “misled [...]
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Newly-elected Utah Governor Jon Huntsman, Jr. told the Utah Taxpayers Association that he proposed to eliminate the state’s corporate tax structure as well as the state’s capital gains tax in the 2005 Legislature, which began yesterday and runs for 45 calendar days. If he is successful, Gov. Huntsman will move boldy toward making Utah competitive [...]
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I had to cancel the meetings scheduled for the Nevada Resident Agent Association this week due to bad weather. As I posted earlier, Northern Nevada is still digging out from record snowfall. And, to make matters worse, in my neighborhood we were hit with a 100 year flood that totally destroyed 17 homes yesterday - [...]
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The proposed legislation that would create charging order protection for Nevada corporations has been updated and submitted to industry lobbyists. The original proposal was to provide charging order protection for corporations with fewer than five shareholders, but the new proposal puts tha shareholder cap at the S corporation limit of 75 shareholders. Meetings have been [...]
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The Nevada Department of Taxation is close to granting approval of a short form version of the Nevada Business License Application Form. The Nevada Resident Agent Association has been working closely with the Department for several months to develop a form that is more simple and less intrusive for companies that do not purchase goods [...]
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The “charging order” is a unique asset protection device that has traditionally applied - in various degrees - to limited partnerships and LLCs. It is primarily designed to protect an innocent partner from being exposed to the foreclosure of another partners ownership interest - and thus have to deal with a potentially hostile third party [...]
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