Form Your Own Nevada Corporation.

Save on State Taxex and Be Judgment Proof........

Ever since I wrote the Lawsuit and Asset Protection Kit people have been asking me about the benefits of a Nevada corporation and how they can actually form one. A corporation in itself is a major asset-protection and tax-saving device and is used by businessmen and investors, but a nevada corporation goes several steps further in conferring these benefits. It would be a folly not to investigate and take advantage of Nevada corproation statutes in your overall aset protection strategies.

Most peopl who incorporate do so for one or more of the following reasons: Shielding their personal assets from liability: tax benfits: personal and financial privacy: and flexibility in management and control. Although you can get these benefits in some degree in any state, Nevada surpasses them all. Nevada has laid out a welcome mat for businesses and investors.

A New York City cab company has formed 50 Nevada corproations, one for every two vehichles in its 100-taxi fleet, thereby limiting its exposure to the value of two vehicles at the maximum. Many ski resorts employ the same strategy: a separate Nevada corporation is formed for each ski lift, lodge and snack bar. People with real estate holdings, such as rental properties and apartment buildings, do the same; limit their liability by setting up multiple corporations. This strategy not only works, but is very easy to implement.

So what are the specific advantage of incorporating in Nevada?

First, Nevada is one of only four stateswith no corporate income tax. Contrast that with California, for instance, which has a state corporate tax of $800. per year. Arizona has a tax of 9.3 percent and New York weighs in with 9 percent and a minimum of $800. per year. (New York City imposes an additional 8.85 percent corporate tax.) Even Delaware has a corporate tax of 8.7 percent.

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