Tax Benefits
Nevada's tax structure is also a large benefit to incorporation in Nevada. Nevada has no franchise tax. It also has no corporate income tax or personal income tax. While Nevada likes to promote that there are "no corporation taxes" in the state, there is an annual $200 "Business License Fee" which is paid to the Secretary of State's Office at the time of formation or renewal of the corporation. Nevada additionally applies a 1.17% tax on gross wages to most businesses with a payroll over $62,500. Nevada and Texas are the only two states that do not have information sharing agreements with the Internal Revenue Service.
Read more about this topic: Nevada Corporation
Famous quotes containing the words tax and/or benefits:
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—Robert Frost (1874–1963)