|
Minnesota makes all the necessary forms for incorporating a business, registering
business names and trademarks easily available on the Minnesota
Secretary of State Web Page. However with a state corporate income tax
second highest in the nation at 9.80% actually doing business as a Minnesota
corporation could be expensive. Nevada on the other hand can reduce your
business' tax exposure with no corporate income tax. Nevada is also the only
state that protects personal information by not requiring stockholders to
be public record. See the detailed list below for a complete comparison of
incorporating in Nevada vs. Minnesota:
| |
Nevada |
Minnesota |
|
State Corporate Income Tax ? |
None |
9.80% |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
44 |
Personal Income Tax ? |
None |
5.35% - 7.85% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
39 |
Franchise Tax ? |
|
|
Tax on corp shares ? |
|
|
Gift Tax ? |
|
|
Unitary Tax ? |
|
|
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* |
|
|
|
Glossary of terms
|
|
|
|
