Nevada vs. Illinois Incorporation Comparison

Illinois has a fairly low personal income tax, and the only special tax it has is estate tax. However Illinois rates a 29 on the Tax Foundation’s Corporate Tax Ranking Index because of their 7.3% corporate income tax. Illinois allows series LLC’s, though Nevada’s other asset protections make Nevada a better state for incorporation. In Nevada charging order is a creditor’s sole remedy, and officers, employees and directors have statutory indemnification. See the compiled list below to help you decide whether to incorporate your business in Nevada or Illinois.

 Scroll Right to View    Nevada    Illinois
Tax Foundation's, Corporate Tax Ranking Index 1 29
Personal Income Tax NONE 3%
Tax Foundations, Personal Income Tax Ranking Index 1 12
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


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Why Nevada?

  • You can live and run your business in any state and still incorporate in Nevada.
  • Forming your entity involves no minimum capital requirements
  • Lawsuit proof laws - If your business does get sued, your personal assets will stay safe.
Your State vs. NV

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