Corporations in Nevada

If you have a business whose goals include the public you may find that a corporation will suit your needs. "C" and "S" are the two type of corporations found in Nevada. The "C" in C Corporation comes from Subchapter "C" of the IRS's tax code. The "S" in "S" corporation comes from the IRS's tax code, Subchapter "S" of Chapter 1, so overall the designation is all about taxes. "S" corporations are common with new businesses. The type of corporation you choose for your business will depends on the size of your business. Some considerations when opening a Nevada corporation are as follows.

Nevada Corporations are attractive to venture capitalists that will be more inclined to invest because of the potential both "S" and "C" corporations have to be publicly traded. Therefore should you be looking for further investment then corporations are more functional than LLCs

In regard to Nevada corporation taxes, the taxes between "S" and "C" corporations vary. Both the share holders and the business may be taxed in "C" corporations while in "S" only the business is taxed. Taxes are "passed through" to individual shareholders, so there is no double taxation.

Should you business have share holders, the number of shareholders in "S" Corporation is limited to 35 and the shareholder cannot be a foreigner. It is suitable for small and new businesses. For "C" corporations, share holder can be unlimited in number and they can either be domestic or foreign

Nevada Corporations require a lot of documentation and articles of incorporation. Should you hold a meeting the minutes from all these meetings must be documented, including every major decision made regarding the corporation.

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