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There are few states that rival Nevada for business friendly tax policy.
South Dakota, like Nevada, has no corporate income tax, franchise tax, or
tax on corporate shares. Both rate well on the Tax Foundations Corporate
Tax Ranking. For individuals, South Dakota does have a estate tax to deal
with. Where you can really benefit from incorporating your business in Nevada
is asset protection. Nevada protects your assets with a business court, the
highest standard for corporate veil protection, and the Nevada Series LLC.
For a complete guide to incorporating in Nevada vs. So. Dakota, please see
the chart below:
| |
Nevada |
South Dakota |
|
State Corporate Income Tax ? |
None |
None |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
1 |
Personal Income Tax ? |
None |
None |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
1 |
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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