Nevada Corporation
Categories: Regulations
Know what really grinds our Uncle Dave’s gears? Taxes. He doesn’t like ‘em. Never has. That’s why his organization, Tony Toupees, is proud to be a Nevada corporation. A “Nevada corporation” is, quite simply, a corporation that is registered in the state of Nevada. So why is this such a big deal? Because of taxes. Or rather, because of the lack of taxes.
Nevada charges no personal income tax, no corporate income tax, no franchise tax, no taxes on corporate shares, and super-low annual fees. In fact, some of the only taxes they do charge are a statewide sales tax, and a gross receipts tax for corporations. Besides that, state laws regarding shareholders, personal liability, and reporting are very minimal. It’s like corporation heaven. It’s the Delaware of the West. Many companies choose to incorporate in Nevada (that’s why the term “Nevada corporation” is a thing) as opposed to more expensive and high-regulation states like California, because it just makes financial sense for them. And for folks like Uncle Dave, that doesn’t grind the gears at all.
