For years, Delaware has been the leading state of choice for businesses wishing to incorporate. But since the early 1990’s, Nevada has turned into the preferred state for incorporating new businesses, and here are some reasons why.
- Delaware has a franchise tax, Nevada does not.
- Delaware has an income tax, Nevada does not. Although this income tax applies only to revenue earned within Delaware, it does require reporting, public disclosure, forms, red tape, etc., of which Nevada has none.
- Delaware is now regulated by a corporation commission, Nevada is not. A new state bureaucracy tends to create more regulations and fees.
- Delaware reports tax data to the Internal Revenue Service, Nevada does not.
- In Delaware you must disclose the date appointed for the next annual meeting of stockholders for election of Directors. In Nevada, there is no such disclosure.
- In Delaware you must disclose in your annual report the location of principal places of business outside of Delaware, which is not required in Nevada.
- In Delaware you must list the number and value of shares of stock actually issued. This is not required in Nevada.
- In Delaware you must report the transfer of stock, not so in Nevada.
- The annual registration cost to maintain your corporation in Nevada is less that of Delaware.
In Nevada none of these problems apply, you’re free from the regulating hassles which afflict corporations in Delaware.
It’s clear that Nevada has the best state laws, tax laws, and business friendly laws than any state in the union.
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