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Corporate income tax in Utah is fairly mild at 5%. Compared to the nation
Utah ranks 5 on the Tax Foundation's Corporate Tax Ranking. Utah's
personal income tax is also 5% and they also levy an estate tax. Utah is
also one of the few states which will incorporate series LLCs. Incorporating
in Nevada has some advantages over Utah though, since Nevada doesn't have
a state corporate or personal income tax. You can incorporate as a Series
LLC in Nevada as well, and you also can take advantage of other asset protection
policies like the Nevada business court and the highest standard of corporate
veil protection. Below we have compiled a detailed graph of the differences
between incorporating in Utah and Nevada:
| |
Nevada |
Utah |
|
State Corporate Income Tax ? |
None |
5% |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
5 |
Personal Income Tax ? |
None |
5% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
30 |
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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