LLC in Nevada
A Nevada LLC is a limited liability company formed in Nevada that offers excellent domestic protection. Most practitioners agree that Nevada offers some of the most favorable corporate laws in the country.
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Some of the pros of a Nevada LLC are:
- Nevada’s statues generally favor businesses;
- The organizational requirements are quite informal- no annual meetings or minutes are necessary;
- LLC’s are flexible structures that can be used in many different ways- to own property, to manage an operating business and to hold liquid assets;
- LLC’s can be taxed in four different ways: as a disregarded entity, a partnership, an S-Corp or a C-Corp;
- Nevada, unlike many other states, has no state income tax or corporate tax; and
- Nevada LLC’s can be structured to maximize privacy and anonymity.
- Perhaps most importantly, the members’ interests cannot be attached by a creditor. The only remedy against a member is to obtain a “Charging Order” allowing the creditor to lien or “charge” the member’s profit distribution rights when, or if, a distribution is made by the member of the LLC. As such, assets within the LLC are safe but trapped.