Any DD on Nevada Corp

Hey,

Anyone like to share their DD or thoughts on firms setting up Nevada Corp and the pros and cons for Nevada Corp in general???

poster

Not very favorable. They do not believe in PIPS, thinking it is a Ponzi. I do have an account with them that has lapsed because of present income. Will switch when we start up again.

There is nothing wrong with setting up a Nevada Corporation. Many of us have done that in the past. It is just another way to secure your assets.
Reasons for setting it up in Nevada:
No Franchise Tax
no personal Income tax
They do not share information with the IRS
Stockholders are not public record
no corporate income tax, no state income tax
You can use a nominee service so that Shareholders, VP are not public record.
It is hard to pierce you "corporate veil" which means your personal assets are not exposed in a corporate lawsuit
Nevada's law protects the rights of a small corporation

Hope this has helped, if you want more information feel free to PM me.

Mia