The state of Nevada is one of the best states to operate a business in.  Nevada has repeatedly been voted one of the most business-friendly states by CNN.com and Kiplinger’s. The advantages for small business owners are seemingly endless when you do business in the Reno-Tahoe area; this includes various tax benefits to entrepreneurs, minimal business regulations, and inexpensive commercial real estate. 

The Greater Reno-Tahoe area offers a very competitive tax climate.  Tax advantages in Nevada include:

-          No personal state income tax

-          No inventory tax

-          No estate and/or gift tax

As far as national rankings go, The Greater Reno-Tahoe area boasts tops in many categories.  The area has been named the #1 place to do business in America by Inc. Magazine.  As well as achieving a top-rank as one of the best places to raise a family, Nevada offers one of the friendliest environments for entrepreneurs and was named among the “top 7” best states to start a business in. 

Nevada also offers a host of business incentives including sales and use tax abatement, sales and use tax deferral and personal property tax abatement as well as a grant for training new employees.

Not only is the Reno-Tahoe area a great place to run a business it’s also a great place to live.  The area is close to many recreational locations such as Lake Tahoe and some of the best white-water rafting destinations in the country.

When you incorporate in Nevada you can be assured to have the best personal asset protection in the nation.  Nevada’s corporate veil is extremely hard to pierce as shown by only having been pierced twice in the last 30 years. 

If you need help incorporating your small business or maintaining your corporate records, Laughlin Associates can help.  During these tough economic times it’s a smart idea to stop looking for job opportunities and start making your own by opening a small business.

If you’ve just started a new business venture, have been in business for years and never incorporated, or thinking about getting something off the ground, Laughlin is your trusted resource for all of your small business needs. While we incorporate in all 50 states, we have specialized in Nevada companies for nearly 40 years.  

Have questions about incorporating in Nevada? Drop me a line at 1-800-648-0966 or rrees@laughlinusa.com.

CNNMoney.com recently contacted Laughlin Associates’ VP, Meghan Cole, for a story that reported the 6 states with the highest start-up rates. As no surprise to the team at Laughlin, Nevada tops the list with 510 start-ups per 100,000 adults in the state’s population.

The article continues on with help from Cole. 

“Nevada is one of the best places to start and run a business,” said Meghan Cole, a vice president at Laughlin Associates, a small business consulting firm in Carson City, Nev. The state “has passed some of the most aggressive pro-business legislation in the country,” she said. Startup fees are low and Nevada has no personal or business income tax, which means business owners save a bundle, she added.

Read the rest of the article here. Or if you have questions about starting a business or incorporating in Nevada for tax and liability benefits talk to a Laughlin Associates business consultant today by calling 1-800-648-0966 or visiting us online.

Last night I attended an exciting networking mixer for entrepreneurs in Reno, NV. I hadn’t expected to stay very long except for the chance to visit with the CEO of the networking group. I thought I’d breeze in, set up a time to meet with this fellow, and then breeze out. Instead, I ended up being the last guy out the door. The vibrancy of the group was amazing. People from all kinds of different business from all types of industries were there telling their stories and asking for new business. It just doesn’t get any more electric than that.

Many of the small business owners that attended this event ran companies that were start-ups and had recently experienced some form of downsizing like so many other American companies. And with the nation’s highest unemployment rate, downsizing is certainly a term that has run rampant in Nevada. What I loved was that so many of the people I talked to had taken a challenging career set-back and turned it into an opportunity to start something of their own. We are seeing this same thing play out all over the country as entrepreneurial minded people take the plunge and start a business.

Interestingly, this morning I received an article from our friends at the corporate office of H&R Block. The article lays out some really great advice for start-up companies. It advices budding entrepreneurs not to make novice mistakes that can end up killing your business even when you’re just starting out. An important example is figuring out whether you are ready to take on the risk of running a sole proprietorship. Or, on the other hand, you can take a step towards increasing your liability protection and tax benefits and consider forming an S Corporation, C Corporation or an LLC for your business.

Resources like this article are available everywhere through the Internet, but in order to run a successful business you have to do your homework. Read up on the laws and regulations in your state and find out what is required of you to keep your company in good standing. Gather a team of mentors and advisors around you to keep yourself on solid footing.  And most importantly, separate yourself from your business by forming a business entity like a Corporation or an LLC so you can spend your time building your company and not battling lawsuits and the IRS.

 As a business owner myself, it is always interesting for me to hear about the successes and challenges you face in your business. Please write to me at aaronyoung@laughlinusa.com to share your stories.

Aaron S. Young, CEO

Laughlin Associates, Inc.

Nevada LLC- Establishing Your Limited Liability Company

There are really many benefits to forming a Nevada LLC. First of all, the cost of formation in the state of Nevada is very low, and there are big perks for the company leaders and invested parties when a Nevada LLC is formed out of a budding company. There is no corporate income tax in the state of Nevada, and all directors and shareholders get great protection from personal liability when a company becomes an LLC. To establish your own Limited Liability Company in the state of Nevada, there’s certain paperwork that needs to be filed with the state. However, once the paperwork is filed and processed, your business will immediately be in a better position than it was before.

Performing an analysis here requires you to file Articles of Incorporation, which should never be done before you read the operating agreements in the bylaws of becoming an LLC. Another important part of this process is to get a Federal tax ID or employer identification number (EIN) for your business. Although this might seem like a little bit of extra work that you aren’t prepared to take on, it is definitely well worth it when you note all the benefits that can come from forming your own in Nevada LLC.

Another benefit of forming a Nevada LLC is that you will get anonymity because of the privacy laws regarding corporations in the state. Many people that have been highly visible in other states in their industry come to Nevada seeking a safe haven where they can conduct their business in peace and not have to worry about the outsiders looking in. For example, many celebrities enjoy operating businesses out of Nevada, because it gives them the privacy that they need and allows them to do something that they might not be able to do it other places. Businesses that are naturally high risk or that have a lot of enemies also enjoy the benefits that Nevada has to offer, simply because they cannot get those benefits anywhere else.

All in all, there are many benefits to forming a Nevada LLC. As long as you file the proper paperwork and make sure that you are on the track to success, you will experience little difficulty in your LLC formation. Nevada is one of the very few states that make it easy and safe to form a business in privacy, which is perhaps one of the reasons it is as popular as it is today.