Relocating to Nevada

Individuals and businesses are motivated to relocate to Nevada due to the fact that there is no state-imposed income tax. In order to take advantage of the income tax savings, several factors come into play. Evaluate your personal and corporate tax climate and use the following information to evaluate your potential for the Nevada tax savings.

Nevada tax benefits & advantages

In order to take advantage of Nevada’s tax hospitality, a taxpayer must make Nevada its principal place of residence, i.e. your primary home. Residency is the single most important factor in gaining Nevada’s tax advantages.

A “close connection test” is implemented and must be passed in order for a taxpayer to establish state residency. The “close connection test” identifies if Nevada is the state in which a taxpayer has the closest social and business contacts, and more. A corporation organized and domiciled in Nevada can also significantly reduce its state tax burden by shifting its corporate level of activity to the state Nevada.

Owning real estate in the state of Nevada is the key factor when considering tax advantages. To learn more about the potential tax advantages of Nevada residency for yourself of your business, visit tax.nv.gov. Contact an experienced CPA or financial advisor to plan and implement a successful change in residency.

Top reasons to Incorporate in Nevada

• No Corporate Income Tax
• No Taxes on Corporate Shares
• No Franchise Tax
• No Personal Income Tax
• Nominal Annual Fees
• Nevada corporations may purchase, hold, sell,
or trans shares of its own stock
• Competitive Sales and Property Tax Rates

• For capital, services, personal property, or
real estate, including leases and options.
The directors may determine the value of
any of these transactions. and their decision
is final.
• No Franchise Tax on Income
• No Inheritance or Gift Tax
• No Unitary Tax
• No Estate Tax

 

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