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New Jersey has a flat rate corporate income tax, so you know what to expect.
But since that rate, 9%, is about the highest in the nation, new Jersey is
one of the most expensive states in which to incorporate a business. New
Jersey rates 41 on The Tax Foundation's Corporate Income Tax Rating. On the
other hand, you can save you significant expense by incorporating your business
in Nevada. Nevada does not have corporate income tax and gets the highest
best rating from the Tax Foundation for corporate income tax. Nevada also
does not have other taxes like tax on corporate shares or franchise tax.
See the table below for a detailed comparison of the benefits of incorporating
in Nevada vs. New Jersey.
| |
Nevada |
New Jersey |
|
State Corporate Income Tax ? |
None |
Various |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
41 |
Personal Income Tax ? |
None |
1.4% - 8.97% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
49 |
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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