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Nevada and Delaware

Incorporating in Delaware

For someone who is not familiar with the Corporate laws in the various states, “Why should I consider incorporating in Delaware?” may be a question that comes up. After conducting some brief research, it is relatively simple to see why over half the Corporations listed on the New York Stock Exchange (NYSE) are registered in Delaware.  For over 200 years, Delaware has had the Court of Chancery which presides over matters pertaining to Corporate law. The judges found in that Court are very knowledgeable and specialize in Corporate cases, making Delaware very Corporate friendly. The following are some additional benefits to forming a Corporation in Delaware:

  • There is no requirement to disclose
    the names and personal information of the Corporate Board of Directors.
  • The incorporation fees are minimal.
  • Delaware does not impose a state
    income tax on Delaware Corporations not doing business in Delaware.
  • There is no sales tax or personal
    property tax in Delaware.
  • A Delaware Corporation is not
    required to have a physical presence or business office in Delaware; only
    a registered agent is required.
  • An individual is allowed to act as
    the director, officer, and shareholder of a Delaware Corporation.
  • Shareholders of Delaware Corporations
    can make written decisions as opposed to only making decisions in
    face-to-face meetings.
  • Delaware Corporations are allowed to
    conduct different types of businesses within one Corporation.
  • Delaware has fast and easy
    incorporation processing, making it possible to form a Delaware
    Corporation in as little as one hour!

With all of these benefits, Delaware is one of the best jurisdictions to consider when forming a
Corporation.

Incorporating in Nevada

Nevada is another extremely popular state in which to form a Corporation due to the wide array
benefits it offers to Nevada Corporations. Building on the successful Corporate models offered in
Delaware, the State of Nevada offers the following Corporate benefits:

  • Very low start-up and annual costs
    for Nevada Corporations.
  • Nevada Corporations are subjected to
    minimal disclosure and reporting requirements.
  • Nearly impenetrable liability and
    asset protection for Nevada Corporations.
  • Stockholders of Nevada Corporations
    are not included in the public records which results in enhanced privacy
    for the Corporation.
  • Directors of Nevada Corporations do
    not necessarily have to be shareholders.
  • Nevada Corporations are not assessed
    any franchise taxes or Corporate income tax.
  • The State of Nevada does not assess
    any personal income tax.  So a
    Nevada Corporation doing business in Nevada does not pay any State Income
    Tax.
  • Nevada has no information sharing
    agreements with the IRS.
  • Nevada is the only state that permits
    Corporate “Bearer Shares” to be issued.  These are shares that are owned by whoever has the
    documents on their person, which allows for ultimate ease when
    transferring shares.  It also
    provides for a shareholder to entrust their shares to a trusted friend or
    family member during times of peril.
  • Nevada Corporations are permitted to
    issue stock to raise capital, to compensate someone for services rendered,
    and in exchange for personal property or real estate.  The Corporate directors are
    empowered to make binding decisions with regards to assessing the value in
    these circumstances.

With all these benefits, Nevada is an excellent location to consider when making the decision of where to register your Corporation.