Nevada Corporation: Don’t Make This Deadly Mistake
You now hold the paperwork for a Nevada corporation within the time it took you to have a quick holiday in the Sands in Las Vegas.
You did a quick search on the internet and found a quick incorporation lawyer who did it all for you in record time and at a reasonable couple of thousand dollars per year maintenance too.
Then you go back to California (for example) to continue your real estate business.
Right now, you think you’re home free and you’ll pay tons less in income taxes and get rich doing it.
WRONG!!!
I do not know how many laws you’ll be breaking if you fail to file your tax papers in California too. Remember, you most definitely will have to pay taxes in the state in which you reside. Remember, not paying taxes is a most severe felony.
The situation might be different if you reside in Nevada but do business in California. Your taxes may be significantly lowered then.
But please, always get the right expert for your corporate structuring and tax preparation and strategy.
Just listen to what this lawyer, Mr. William Bronchick has to say (no, I’m not affiliated with what he has to sell, just more good information).
I agree that if you are operating a “brick and Mortar” in California, filing it as a Nevada Corporation will do no good.
Good going pointing out the obvious facts.
But did you know?
http://www.nevadacorporateservices.com/Why-Create-a-Nevada-Corporation.html