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Incorporating in West Virginia, businesses will see an 8.5% corporate income tax. Add to that it an additional franchise tax. West Virginia rates 28 on the Tax Foundation's Corporate Tax Index. If you live in West Virginia you're already paying between 3% and 6.5% personal income tax, and perhaps estate tax. By incorporating as an LLC or other corporation in Nevada you reduce your tax exposure significantly. Nevada has neither corporate income tax nor franchise tax. Incorporating a Nevada LLC is easy since you don't have to reside in Nevada to incorporate. We hope the data below will be helpful in deciding whether to incorporate in Nevada or West Virginia:
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Nevada |
W. Virginia |
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State Corporate Income Tax ? |
None |
8.75% |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
28 |
Personal Income Tax ? |
None |
3% - 6.5% |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
40 |
Franchise Tax ? |
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Tax on corp shares ? |
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Gift Tax ? |
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Unitary Tax ? |
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Estate Tax ? |
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Statutory Indemnification of Officers, Directors & Employees ? |
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Charging Order Protection for Corporation ? |
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Charging Order is Creditor's Sole Remedy for LLC or Corporation ? |
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Highest Standard of Corporate Veil Protection ? |
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Series LLC Allowed ? |
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Business Court* |
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Glossary of terms
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