Nevada Tax Advantage
How does no state income tax sound ? To many it has sounded like a great reason to make Nevada home . The requirements are simple , and the benefits can be quite impressive .
The main qualifier for this tax “ hospitality ” is to make Nevada your central place of residence . This doesn ’ t mean you can ’ t do business or even have residences in other states , just that Nevada is the state with which you have the closest ties .
If you are residing in Nevada and become a Nevada resident , you will generally escape state income taxes , except for income that arises from sources within another state .
Even if you are required to “ source ” part of your income from a state that has an income tax , you may still enjoy a significant decrease in your overall tax burden .
Below are a few reasons why you should consider Nevada for your home and business :
• No personal income tax
• No corporate income tax
• No gross receipts tax
• No franchise tax
• No inventory tax
• No tax on issuance of corporate shares
• No requirements of shareholders & directors to live in Nevada
• No tax on sale or transfer of shares
• No succession or inheritance with IRS
• No sharing information with the IRS
• Simple annual requirements
• Protection for Directors and Officers
• No initial or minimum capital requirements
• Anonymity of owners-total privacy
• Low property taxes
• Business friendly environment