Fundamentals of a Nevada Corporation

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Fundamentals of a Nevada Corporation

Posted On : Nov-22-2010 | seen (274) times | Article Word Count : 376 |

What is an entity? An entity is a person and Black's law dictionary defines a “person” as:
1.) A human being;
2.) An entity (such as a Corporation, limited liability company or trust) that is recognized by law as having the rights and duties of a human being.
So, if you were standing in front of a judge and there was you (the human being) and an entity (which is effectively a piece of paper), both are recognized by the court as a person.

Corporations are factitious persons who can own and operate businesses, hire employees, buy and sell goods and services, rent office spaces, make contracts, have bank accounts, maintain retirement plans for employees, and can sue and be sued. Corporations are created under state laws, not federal laws, and incorporation laws vary widely throughout the United States. In some states it is so difficult to form a business entity and/or the tax laws are so unfavorable you defeat the purpose of going through the process. You are not required or obligated to incorporate in the state in which you reside. You may go to any of the other 49 states and pick one which best suits your business needs. In Nevada, personal liability is determined by state statute, not by the courts on a case-by-case basis. Individuals are not subject to the standards applied by any individual judge. Entities are afforded the highest degree of protection from lawsuits with Nevada Incorporation. In addition to the hundreds of tax deductions afforded to all corporations, here is just a small list of some of the additional tax benefits that come with Nevada Incorporation:

No Gift Tax
No Sales Tax
No Luxury Tax
No Property Tax
No Franchise Tax
No Capital Gains Tax
No Personal Income Tax
No Corporate Income Tax
No Tax on Corporate Shares
Nominal Annual Renewal Fees
Stockholders are Not Public Record
No IRS Information Sharing Agreement

Incorporating on your own attracts greater risk today than in years past. With new anti-terrorism, banking and tax legislation being enacted, improperly interpreting these laws can have dire consequences. For more information on how to have greater anonymity, personal liability protection and tax benefits, be sure to contact the author.

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<h1>Fundamentals of a Nevada Corporation</h1> Author: <a href='http://www.articleseen.com/profile_Jones Smith.aspx'>Jones Smith</a> What is an entity? An entity is a person and Black's law dictionary defines a “person” as:
1.) A human being;
2.) An entity (such as a Corporation, limited liability company or trust) that is recognized by law as having the rights and duties of a human being.
So, if you were standing in front of a judge and there was you (the human being) and an entity (which is effectively a piece of paper), both are recognized by the court as a person.

Corporations are factitious persons who can own and operate businesses, hire employees, buy and sell goods and services, rent office spaces, make contracts, have bank accounts, maintain retirement plans for employees, and can sue and be sued.  Corporations are created under state laws, not federal laws, and incorporation laws vary widely throughout the United States. In some states it is so difficult to form a business entity and/or the tax laws are so unfavorable you defeat the purpose of going through the process. You are not required or obligated to incorporate in the state in which you reside. You may go to any of the other 49 states and pick one which best suits your business needs. In Nevada, personal liability is determined by state statute, not by the courts on a case-by-case basis. Individuals are not subject to the standards applied by any individual judge. Entities are afforded the highest degree of protection from lawsuits with Nevada Incorporation. In addition to the hundreds of tax deductions afforded to all corporations, here is just a small list of some of the additional tax benefits that come with Nevada Incorporation:

No Gift Tax
No Sales Tax
No Luxury Tax
No Property Tax
No Franchise Tax
No Capital Gains Tax
No Personal Income Tax
No Corporate Income Tax
No Tax on Corporate Shares
Nominal Annual Renewal Fees
Stockholders are Not Public Record
No IRS Information Sharing Agreement

Incorporating on your own attracts greater risk today than in years past. With new anti-terrorism, banking and tax legislation being enacted, improperly interpreting these laws can have dire consequences. For more information on how to have greater anonymity, personal liability protection and tax benefits, be sure to contact the author.
About the Author: Jay Butler is an asset protection specialist for an International Business Company in the Republic of Seychelles. Visit their website for more details and free consultations on the benefits of choosing <a rel="nofollow" href="http://www.assetprotectionservices.com/APSI/United_States/Nevada_Corp.html
">nevada incorporation</a> or <a rel="nofollow" href="http://www.assetprotectionservices.com/APSI/United_States/Nevada_Corp.html
">corporations</a> in other states. 
 Article Source: <a href='http://www.articleseen.com/Article_Fundamentals-of-a-Nevada-Corporation_42573.aspx'> http://www.articleseen.com/Article_Fundamentals of a Nevada Corporation_42573.aspx</a>

Article Source : http://www.articleseen.com/Article_Fundamentals of a Nevada Corporation_42573.aspx

Author Resource :
Jay Butler is an asset protection specialist for an International Business Company in the Republic of Seychelles. Visit their website for more details and free consultations on the benefits of choosing nevada incorporation or corporations in other states.

Keywords : nevada incorporation, corporations,

Category : Business : Business

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