|
Connecticut is in the top third of states according to the Tax Franchise's
Corporate Tax Ranking Index, though they are one of the few states that does
have a franchise tax. Nevada has no franchise tax and no state corporate
income tax. Though Connecticut's personal income tax is quite low they have
both gift tax and estate tax. Since you can incorporate a business in Nevada
without becoming a resident you can take advantage of the Tax savings and
lower your financial risk by incorporating in Nevada. See the table below
which details the advantages of incorporating in Nevada vs. Connecticut:
| |
Nevada |
Connecticut |
|
State Corporate Income Tax ? |
None |
7.50% |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
17 |
Personal Income Tax ? |
None |
3%-5% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
18 |
Franchise Tax ? |
|
|
Tax on corp shares ? |
|
|
Gift Tax ? |
|
|
Unitary Tax ? |
|
|
Estate Tax ? |
|
|
Statutory Indemnification of Officers, Directors & Employees ? |
|
|
Charging Order Protection for Corporation ? |
|
|
Charging Order is Creditor's Sole Remedy for LLC or Corporation ? |
|
|
Highest Standard of Corporate Veil Protection ? |
|
|
Series LLC Allowed ? |
|
|
Business Court* |
|
|
|
Glossary of terms
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|
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