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Your Expert Source For Forming Business Entities in Nevada and other states.

Your Expert Source For Forming Business Entities in Nevada and other states.

Frequently Asked Questions

The following information is based upon our experience and is accurate to the best of our knowledge. However, legal validity is not guaranteed.

Do I have to be a resident of the state?

No. In fact, you do not have to be a U.S. citizen.

Do I have to be located in the state?

No. You never have to set foot in the state. If you are not physically present in the state, you must have a Registered Agent.

What is a Registered Agent?

It is a person or a legal entity with offices in the state who can act as your agent for acceptance of legal service. The Registered Agent is the Secretary of State's recognized contact for your legal entity. You must have a Registered Agent if you have no physical presence in the state of incorporation. Conversely, you do not need one if you do have a physical presence in that state. Corporation Makers includes a full year of Registered Agent service for all of its' clients as part of the incorporation package.

Can I conduct business in other states?

Yes. But you must comply with local laws and licensing of the state in which you do business.

What is a foreign legal entity?

Any legal entity doing business in a state other than the one it incorporated in, is a foreign legal entity (to that state). As such, you would register with the secretary of that state. Fees are usually involved.

I conduct business in many states, do I need to register with each one?

This is tricky. If you actually transact business in a particular state, then you need to register. If you are merely promoting your business in that state, then you probably do not have to register. One rule of thumb is - where do you take custom orders? In most instances, if you do not have any active and regular operations in the state, then you do not need to register as a foreign legal entity. If you have doubts, you should get a legal opinion.

Where can I have bank accounts?

Anywhere. You can open up your legal entity account in virtually any bank by providing the proper documents. Usually, these include articles, federal ID, board resolution, and suitable I.D. of the account signatories.

Why is Nevada so famous as a legal entity haven?

Nevada does not disclose ownership. Unless you go public, no one will know who the shareholders are. Nevada has no state income tax. Nevada is the only state that does not have an information exchange agreement with the IRS. One person can incorporate and hold all the offices.

Annual fees are among the lowest in the nation. Meetings and activities do not have to be held in the state. A Nevada legal entity can own other legal entities, real estate, and stock. The State of Nevada is friendly to business and minimizes taxes, regulations, and oversight. You just can't find it any better.

Is it difficult to operate as a legal entity?

No. We make it easy for you. You have to document all the key events, and you must have an annual meeting, even if you are a one-person legal entity. Just follow our standard minutes and modify them to meet your situation. It takes a few minutes, but it is essential that you behave like a legal entity.

Can I use personal assets in my legal entity?

Careful here! You can give a loan or rent them, but you must document the transaction. In essence, you can be a supplier of services. Do not commingle your bank accounts, however. Keep money separate, or you could offer creditors the same benefit of access to your funds. That’s the ‘Rule of thumb’. You are incorporating for certain benefits, among them liability limitation. So keep your stuff separate from the legal entities' "assets".

Can my legal entity operate out of my home?

Yes. You still need to comply with local laws and restrictions about that. But you can rent space and equipment to your legal entity.

Are legal entity officers a matter of public record?

Yes. Names and addresses are filed with the state and are therefore available to anyone. Nevada requires this filing annually. They do not require notification of intervening changes. Other states may have the same requirement.

Can one person hold all the offices?

Yes. In Nevada, the same person can be the president, treasurer, secretary, and director.

How many directors are required?

You will need one director in Nevada. In other states more directors may be required.

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