Nevada has a unique corporate structure. The establishment of such corporate statutes began in Delaware. Nevada then took on the structure to allow the investors and owners of Nevada corporations to remain completely private. Since these changes were implemented in 1991, the number of new incorporations has rocketed.

Last year there were over 40,000 incorporations in Nevada, and this can be significantly linked to the corporate statutes and the advantages that business owners can enjoy with the complete privacy that is provided by them. To ensure that this privacy is maintained Nevada allows its corporations to use bearer stock certificates, and is the only US state to do so. This makes it virtually impossible to prove the ownership of a Nevada corporation because the state does not require a corporation to list its vice-president, and so it is incredibly easy to remain anonymous.

The tax regime in Nevada is also beneficial to corporations there, with Income Tax on either corporations or state citizens. There are also no other hidden taxes such as Franchise Tax, Capital Stock Taxes or Inventory Taxes for Nevada corporations. Sales Tax applies only to products sold within the state and only 15% federal Corporate Tax is payable on the first $50,000 of net income.

How to file a Nevada corporation

To begin you must choose a company name that is different from any other registered entity in the State of Nevada. It must also be different enough from in reserve by other entities in the state. The name must identify the business as a corporation such as limited, corporation, incorporated or company.

A corporation in Nevada must have at least one director, of 18 years or over. This person is not required to live in the state unless stated otherwise in the corporation’s articles of incorporation.

All prospective corporations in Nevada must fill in articles of incorporation from the Nevada Secretary of State website. Alternatively this can be done by through the post or by visiting the Nevada Secretary of State’s office in person.

Provision of a name and location of the company is necessary, plus a name and address of a resident agent accepting the legal process for the company. This must be an adult or registered business. Details of the names and addresses of the corporation’s shareholders and number of initial shares must also be provided.

Submission of the articles of incorporation to the Nevada Secretary of State in Carson City or Las Vegas is mandatory. If this is done in person it must be done at the Carson City office, otherwise by fax or mail. Prospective corporations must pay $75 to file articles of incorporation in Nevada. After approval is granted, a certificate is given to the organisers.