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Nevada’s Business Advantage
Posted onDid you know that Nevada does not tax the income of its corporations? Unlike most states in this country, Nevada has taken a ‘pro-business’ stance. Nevada’s legislature has consistently recognized that taxing the income of its businesses or its citizens would be the wrong approach for maintaining a healthy state economy. You will be required to pay payroll tax if you have employees and may be required to pay sales tax if your Nevada Corporation is selling products in Nevada. Beyond paying no income tax, your Nevada Corporation will not be required to pay any other hidden taxes, such as franchise taxes, capital stock taxes, estate taxes, gift tax, unitary tax or inventory taxes. You may form your business entity in Nevada even though you operate your company in another state. Doing so usually provides the individual business owner with maximum asset protection and can even have positive tax implications.
For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Tags: Business Expenses, Corporation, Deductions, incorporation, IRS, LLC, Record Keeping, Recordkeeping, Small Business Taxes