Incorporating in Nevada has many outstanding benefits for savvy entrepreneurs who incorporate their businesses in the silver state. However, you must take care in setting up the corporation correctly if you are to take advantage of the tax advantages and liability protection benefits Nevada has to offer. If you are new to Nevada corporations, you will want to use a qualified nevada incorporation service to set things up right from the start. People who try incorporating in Nevada themselves can easily set themselves up to be in hot water with the IRS if they are selected for an audit. The IRS pays special attention to Nevada corporations when selecting candidates for an audit, so it is imperative that a Nevada corporation be set up with care.
Common Nevada Incorporation Mistakes
Business owners new to incorporation in Nevada most frequently make the following mistakes when forming a Nevada corporation themselves:
- Failing to have employees in the corporation
- Not having adequate proof of Nevada-based operations
- Allowing independent contractors corporate benefits intended only for employees
- Not issuing stock
Nevada Incorporation Services Checklist
If you decide to go with an incorporation service, make sure you go with a firm that has experience with Nevada incorporation. Compare what they offer to the list below. A quality incorporation firm should offer the following services as part of its package:
- Creation of the Articles of Incorporation
- Filing of the Articles with the Nevada Secretary of State
- Filing of Initial Officers, Directors, Agents or Members
- Arrangement for official place of business
- Arrangement for local telephone service
- Arrange for contracted employees of the corporation to answer telephone calls during business hours
- Assistance in opening a Nevada bank account
- Resident Agent services
- Mail forwarding
- Obtaining a business license (usually this will be in the state capitol, Carson City)
- Federal Tax Identification Number (EIN)
- Creation of a Corporate Charter
- Offers stand-in nominee officers so that the names of the officers are not listed in public records. This strategy offers an additional layer of privacy from prying eyes. You can vote these officers out of office at any time, and they will not have any signature authority with the corporation.
Conclusion
Incorporating in Nevada can be one of the most critical steps you can take in your new business venture. Combined with careful investigation and use of professional Nevada incorporation services, you can have peace of mind knowing your Nevada corporation is providing you with the best in domestic asset and revenue protection.
Jim Hood is a senior contributing editor at The Incorporation Station, which provides tips and strategies on how to incorporate for maximum advantage. If you're new to incorporating in Nevada, you can read more about the benefits of Nevada corporations on his Web site.
Article Source: http://EzineArticles.com/?expert=Jim_Hood
