Florida’s lack of state personal income tax gets it a 1 in the Tax Foundation’s Personal Income Tax Ranking Index, same as Nevada, but their moderate corporate income tax bumps it up to a 14 on the Corporate Tax Ranking Index. While Florida has fairly good asset protection policies, Nevada’s protection of LLCs against creditors is much better. Please see the chart below to find out some of the business benefits of incorporating in Nevada vs Florida.
Scroll Right to View | Nevada | Florida |
---|---|---|
Tax Foundation's, Corporate Tax Ranking Index | 1 | 14 |
Personal Income Tax | NONE | None |
Tax Foundations, Personal Income Tax Ranking Index | 1 | 1 |
No Franchise Tax | ||
No Tax on corp shares | ||
No Gift Tax | ||
No Unitary Tax | ||
No Estate Tax | ||
Statutory Indemnification of Officers, Directors & Employees | ||
Charging Order Protection for Corporation | ||
Charging Order is Creditor's Sole Remedy for LLC or Corporation | ||
Highest Standard of Corporate Veil Protection | ||
Series LLC Allowed | ||
Business Court * |
* rankings accurate as of 2013
The newly released 5th Edition of The Nevada Edge is packed with everything you need to know about the benefits of launching your business in Nevada. Download your copy now!