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Tax Increase: Good News/Bad News for Nevada Business

Nevada is the number one state to do business in America, according to MSN Business. Nevada also ranks high on the Forbes-Milken and Cognetics lists for business friendly states. "Want to know the best place in America to lay down a bet on the future success of your business? Appropriately enough, the hands-down winner is Nevada, a state better known for another kind of gambling. Why? A pro-business regulatory environment, affordable housing and, I suspect, a good year-round climate have combined to make the Silver State a mecca for fast-growing startups," according to Philipp Harper, MSN Business article, Best and worst states to run a small biz (http://www.bcentral.com/articles/harper/141.asp).In fact, 45,000 new businesses open in Nevada every year, according to Scott Letourneau, CEO of Nevada Corporate Planners. "But Nevada legislators could soon adopt a large tax increase that could negatively impact the local economy and affect businesses conducting operations in the Silver State (despite opinion polls, including one done by the Las Vegas Review Journal, that indicate that a majority of Nevadans are NOT in favor of raising taxes http://www.reviewjournal.com/special/
polls/0703/071103/impasse.html


http://www.reviewjournal.com/special/polls/0703/071103/view-gross.html
) Still, business owners will benefit from incorporating in Nevada. Although many companies claim that saving taxes is the chief benefit to incorporate in Nevada, Letourneau says that "70-95% of business owners do not save taxes by incorporating in Nevada. Most still have to pay taxes in their state of operation. And what most business owners aren't aware of is that the biggest benefit to incorporating in Nevada is liability protection."Nevada is still the hardest state in the country in which to pierce your corporate veil (protecting the board of directors from shareholder liability). Nevada appears like an iron fortress to your creditors. In fact, the corporate veil has only been pierced two times in Nevada in the last 24 years and both cases involved outright fraud," Letourneau explains. To find out the other major benefits of incorporating your business in Nevada, call NCP today at 1-800-351-5111 for a thorough analysis of your situation at no cost or obligation. You can also link to the website at: http://www.nvinc.com/piercecorp.htm.Listen to Scott Letourneau, a regular monthly guest on BizSoup, hosted by John DeBevoise and Chris Jaynes on Business Talk Radio (http://www.businesstalkradio.net/) (http://www.bizsoup.com/stations_saturday.htm 8-10 pm every Saturday).NCP is a member of the Better Business Bureau in Nevada and a key referral source by the Nevada Development Authority. Back to Press Room



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