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Businesses incorporated in Washington state pay a gross receipts tax rather
than a corporate income tax. The gross receipts tax rate in Washington state
varies based on the type of business. Still, Washington rates 31 on the Tax
Foundation's Corporate Tax Ranking Index. Nevada rates 1 on the Corporate
Tax Ranking Index with no corporate income tax and no franchise tax or tax
on corporate shares. If you incorporate in Nevada you can also benefit from
some of the highest asset protection policies in the country. Please study
the data below to see the advantages of incorporating in Nevada vs. Washington:
| |
Nevada |
Washington |
|
State Corporate Income Tax ? |
None |
Various |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
31 |
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* |
|
|
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Glossary of terms
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