|
New York's Corporate Income Tax is moderate at 7.1%, but the Tax Foundation
rates New York 47th in overall business climate. New York State Property
Taxes are nearly the highest in the nation. Nevada Rates highest
for on the Tax Foundations Corporate Income Tax ranking since Nevada does
not have Corporate Income Tax. Nevada Corporations also enjoy a higher
degree of corporate asset protections than New York with Series LLC, Statutory
Indemnification of Officers, Directors and Employees. Nevada also has the
highest standard of Corporate Veil Protection. See the graph below for a
complete comparison of the benefits Nevada incorporations have over those
done in New York:
| |
Nevada |
New York |
|
State Corporate Income Tax ? |
None |
7.10% |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
23 |
Personal Income Tax ? |
None |
4% - 6.85% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
41 |
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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