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Taxes and Tax Strategies
Nevada is the only state that has absolutely no personal
or corporate tax. The state constitution specifically
forbids same.
There is no franchise tax, no capital gain or corporate
transfer tax, no inheritance tax or inventory tax, and
no tax or restriction in the sale or transfer of corporate
shares.
A NEVADA CORPORATION can reduce, or completely
eliminate, all corporate and/or local income taxes in
your home state.
This can easily, and legally, be accomplished via one
corporation doing business with another corporation. Assume
your NEVADA CORPORATION to be, say, your management,
consulting, accounting, engineering, advisory, etc. etc.
service arm and your local state corporation, or business,
nets, say, $100,000.00 before taxes. Thus your NEVADA
CORPORATION bills your local corporation for, say,
$96,000.00, thus to reduce your local tax incident to
$10,000.00. Note: A $100,000.00 billing negates local
profit totally.
This process must be done with care and caution, thus
to have letterhead billing, a Nevada bank account and
business license and true transfer of funds; you need
not have actual Nevada offices or personnel. A corporate
executive suite can suffice, i.e. as a legitimate business
location and address.
Now the best part; once funds transferred to Nevada, how
do you recapture these Nevada funds? Simple, make your
self a loan. Craft a written note, supported with a Nevada
corporate resolution, with an interest rate, say with
a 30 year amortization, and make religious payments. You
can augment (see below) the protection of your local assets
by collateralizing them as further security for the note.
For further asset shelter, in addition to the above strategy,
is to judgment proof your local assets, corporate and/or
personal. Have your NEVADA CORPORATION make a loan
to yourself and/or your current business, a simple DEMAND
PROMISSORY NOTE will suffice, and collateralize the note
with what ever local assets you select. Since Nevada has
no usury laws you can charge whatever interest rate you
elect. Inflated interest rates will reduce local profits,
i.e. company taxes, yet you never lose control of the actual funds
as they become assets of the NEVADA CORPORATION.
Support this strategy by recording your UCC-1 in your
respective local county.
Other asset shelter strategy can involve having your NEVADA
CORPORATION actually own all, or some portion of your
local assets, reinforcing this veil with a Promissory
DEMAND Note(s).
The above is but an ice berg tip of the capability your
NEVADA CORPORATION's tax and shelter strategies.
I will be pleased to discuss these concepts more fully
with you at your convenience.
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