Where Should I Incorporate My Business?Gwinnett CPA Advises Of Incorporation Pitfalls
"Left to our own devices, we are often prone to make decisions that sound good on the surface only to soon learn that our shortsightedness has caused us more harm than good. Therefore, to avoid this from happening it is best not to be in a hurry to make the right decision, while striving to ignore an arbitrary timeline or deadline, which does not exist. It is far more important to make good decisions with prudence and forethought that carefully evaluate all the relevant decisions and options than to hastily precede into turmoil."
— Gwinnett CPA, John Dillard CPA
There can be substantial advantages in incorporating in NV if you are striving for confidentiality, however, it will not lower your tax bill even a dollar if all of your operations and monies are earned in another state or states. For example, if your base of operations and employees have all of their operations in Georgia, a company will still have to register and pay income taxes in Georgia even if their corporation is legally incorporated in Nevada. If you are domiciled in Nevada and do business in another state, your corporation will still need to file as a foreign corporation in all other locations where it transacts business. From a practical standpoint what you would have done, is complicate your state income tax filings, increase your incorporation fees, and saved zero dollars of income taxes by incorporating in NV and doing business, having employees, and having office locations in other states.
Many public companies, those you can buy stock in on the open market, have incorporated in Delaware for the ease of handling stockholder/shareholder issues. For large companies with tens of thousands of shareholders , this might prove advantageous/beneficial, however for many companies there is no substantive advantage to be gained. You will still be subjected to paying income taxes and legally registering your corporation in all states where you transact business and earn its revenue. To help avoid unnecessary headaches, work with your attorney and CPA closely before making strategic decisions. This your best defense to avoid unhelpful filing fees, requirements, and complexities.
Contact HIS CPA today to be sure you and your business are making sound and informed business decisions to protect you and your business interests