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The main reason for this is that the corporation does not have to pay any of the numerous state taxes. [22] Similar to Delaware, some companies are mandated to incorporate in the state in order to be in compliance with securities law. Filing in Nevada also affords the corporate owners privacy as the state does not require names to do so. [22]
Nevada's tax structure is also a large benefit to incorporation in Nevada. Nevada has no franchise tax. It also has no corporate tax or personal income tax. [1] There is an annual $200 "Business License Fee" which is paid to the Secretary of State's office at the time of formation or renewal of the corporation.
Similarly, when issued in physical rather than electronic form, a document evidencing ownership rights in an LLC is called a "membership certificate" rather than a "stock certificate." [ 7 ] In the absence of express statutory guidance, most American courts have held that LLC members are subject to the same common law alter ego piercing ...
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
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For example, in Delaware LLLP elections take the form of a limited partnership electing to be a limited liability partnership (this is the format used in Delaware, while in Florida, Hawaii and Kentucky the election is made in the certificate of a limited partnership). Not all states presently allow business entities to form as LLLPs. [2]
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