On Friday, March 13, 1987, Governor Bryan signed legislation that sent the message to all corporations and aspiring entrepreneurs: “Come to Nevada!” The new law protects directors and officers from personal liability for acts committed on behalf of the corporation or by the corporation. Because jurisdiction for the corporation is in the state in which it is incorporated, this new law makes Nevada the preferred state in which to incorporate. Nevada has the most favorable corporate laws in the United States. It has the highest degree of privacy, and Nevada is the only state in the U.S. that does not share information with the Internal Revenue Service.
Nevada is the best state in which to incorporate, hands down. Nevada has:
- No Taxes on Corporate Shares
- No Franchise Tax or Gift Tax
- No Business and Occupation Tax
- No Stock Transfer Tax
- No State Personal Income Tax
- No I.R.S. Information Sharing Agreement
- Nominal Annual Fees
- Minimal Reporting and Disclosure Requirements
- Stockholders are not a matter of Public Record
- Law requires only one director (you can have a corporation with only one person involved)
- Directors can change bylaws
- No minimum capital is required
- Only officers, directors, and resident agents are disclosed
Additionally, neither stockholders, directors, nor officers need to live or hold meetings in Nevada, or even be U.S. Citizens. Directors need not be Stockholders. Officers and directors of a Nevada corporation can be protected from personal liability for lawful acts of the corporation. Nevada corporations may purchase, hold, sell or transfer shares of its own stock. Nevada corporations may issue stock for capital, services, personal property, or real estate, including leases and options. The directors may determine the value of any of these transactions, and their decisions are final.