Business in Nevada – the right decision

It is believed that anyone can start a business in the USA, but to make it profitable and beneficial, it is necessary to consider many factors, including its location. Most states are interested in attracting "fresh blood," but there are leaders who have long created the best conditions for organizing and conducting business. One of them is Nevada.

• Why is so much money spent on paying taxes?
• Where to get funds for expanding and updating the company?
• How to protect yourself from unlawful actions of the authorities?
• How to increase profits?
• Where to find time to implement all plans?

If you have asked yourself any of these questions and are still searching for answers, head to Nevada. Here you will find everything you need and finally understand that in the USA, business can be conducted honestly, calmly, and profitably.

Nevada: the most profitable state for business

The legendary city of Las Vegas is located in the state of Nevada

This phrase has practically become the slogan of the state. To attract ambitious, hardworking, and brave entrepreneurs, the authorities of Nevada launched the largest and longest advertising campaign promoting services for businesses. Newspapers, television, radio, the internet – no moderately sought-after source of information was left out. And it worked. Today, Nevada ranks among the most loyal and friendly states for business.

Back in the 1970s, the state of Delaware was the first to abolish state income taxes and became the most popular state in the USA for business registration. However, the legislators of Nevada worked for nearly 30 years on passing a package of laws and ultimately earned the title of the most business-friendly state.

In 2004, the state of Delaware decided that enough businesses were already registered in that state and introduced some of the highest income taxes (in the state) in the USA at 8.5%. From that moment on, Nevada became the absolute leader among all US states for business registration and operation.

Of course, the advertising would not have yielded results if reality did not match expectations. So, what did the local legislators do to turn Nevada into a tasty morsel for entrepreneurs?

Down with taxes!

Any businessman will confidently say that taxes account for the largest expense. After paying all debts to the state, a company often ends up at a loss, especially if it is not a giant corporation, but a small, emerging firm. The state of Nevada took a radical approach to this issue by abolishing a number of taxes. Now you can forget about taxes on:

• profits
• corporate shares or property
• franchises
• inheritance and gift taxes
• real estate

The employer payroll tax is 0.7% of total wages, which includes contributions to paid health insurance.

Nevada also has no personal or corporate income tax, so the savings are enormous. Many entrepreneurs who have made a lot of money (by selling their company or going public (IPO)) relocate to Nevada (for at least 6 months) to minimize taxes and save millions of dollars in income taxes that they would have to pay in their home state (or country).

And all these savings from taxes can be used to expand the business, increase staff, purchase the latest equipment, finance other business directions, and other purposes necessary for increasing profits and strengthening reputation. Or just invest in real estate. It’s hard to imagine more comfortable working conditions, but no, this is just the beginning!

Progressive legislation

Nevada is known for its local legislators constantly keeping their finger on the pulse of events and regularly improving laws for businesses. Thanks to this, corporate and LLC owners can feel secure and work calmly, without fearing false lawsuits, accusations, and other misunderstandings. The law is always on the side of the right.

The state takes the stability and security of businesses very seriously. The state does not allow so-called "junk" lawsuits. Judges in Nevada are always on the side of business. Unfair or dubious claims are not accepted for consideration by the courts of Nevada at all. So make sure to write in all contracts that everything occurs under the laws of the state of Nevada, and courts are only possible in the state of Nevada, and sleep soundly.

Privacy protection

Business implies risks, so it is logical and correct to leave as little personal information in the public domain as possible. According to Nevada law, the initial owner of the business must provide their data to the Nevada Secretary of State. But at the same time, the law allows for the creation of a nominal director: a person who will only be listed as the boss but will not have real power.

This small trick allows real owners and shareholders to maintain confidentiality without violating state rules.

Innovation in management

Understanding the speed at which progress moves, Nevada has long stopped requiring physical presence in the state. For solving all work issues, the board of directors and shareholders can hold online conferences from anywhere in the world. This is not only convenient but also extremely wise: it allows for rational resource allocation and finding new opportunities for your business without wasting time on unnecessary travel between cities and countries.

Important! In any state, there are nuances when registering and conducting business. It is worth considering the features of Nevada.

• The cost of registering a business in Nevada is one of the highest in the USA. However, this is more than compensated by the absence of several taxes that are mandatory in other states.
• By law, any corporation and LLC must undergo mandatory annual re-registration.
• Also, each year it is necessary to purchase a business license, which costs $500 for corporations and $200 for LLCs.
• Each company must submit information about its initial directors to the Secretary of State, and anyone interested will be able to view it on the Nevada Secretary of State's website. But in this case, the possibility of appointing a nominal director helps.

Professional assistance with paperwork

If you want to start a business in Nevada and are afraid of missing something in the bureaucratic system, we would be happy to offer our assistance in preparing documents and addressing other issues. To do this, simply leave a request on the website, via email, or contact our representative by phone at +1 702 204 6388. You will receive a detailed consultation and prompt professional assistance with any questions.