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Comparing the business tax climates in Wyoming and Nevada is tough. Both Wyoming and Nevada do not have corporate income tax, franchise tax or tax on corporate shares. Neither Nevada nor Wyoming has personal income tax, gift tax or unitary tax. Wyoming does have estate tax where Nevada does not have that tax. The big advantage of incorporating in Nevada is in asset protection. Incorporations in Nevada can be series LLC. Nevada corporations also benefit from the highest standard of corporate veil protection. We hope the table below will be helpful when deciding whether to incorporate in Nevada or Wyoming:
| |
Nevada |
Wyoming |
|
State Corporate Income Tax ? |
None |
None |
Tax Foundation's, Corporate Tax Ranking Index ? |
1 |
1 |
Personal Income Tax ? |
None |
None |
Tax Foundations, Personal Income Tax Ranking Index |
1 |
1 |
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
|
|
|
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