NEVADA TAX ADVANTAGE

According to this year’s Index, “the absence of a major tax is a common factor among many top ten states.” there are several states that do without one or more of the major taxes: the corporate income tax, the individual income tax, or the sales tax. Wyoming, Nevada, and South Dakota have no corporate or individual income tax, making them desirable places to own property.

The 10 best states in this year’s Index are:

1. Wyoming

2. South Dakota

3. Alaska

4. Florida

5. Nevada

6. Montana

7. New Hampshire

8. Utah

9. Indiana

10. Oregon

The 10 lowest ranked, or worst, states in this year’s Index are:

41. Rhode Island

42. Louisiana

43. Maryland

44. Connecticut

45. Ohio

46. Minnesota

47. Vermont

48. California

49. New York

50. New Jersey

Reasons to consider Nevada for a home or business:

No personal income tax.
No corporate income tax.
No gross receipts tax.
No franchise tax.
No inventory tax.
No tax on the issuance of corporate shares.

No requirements of shareholders or directors to live in Nevada.

No tax on sale or transfer of shares.

No succession or inheritance with the IRS.

No sharing of information with the IRS.

Simple annual requirements.

Protection for directors and officers.

No initial or minimum capital requirements.

Anonymity of owners-total privacy.

Low property taxes.

Business-friendly environment.

Walczak, J., Drenkard, S., & Bishop-Henchman, J. (2017, October 17). 2018 State Business Tax Climate Index.

Retrieved January 16, 2018, from https://taxfoundation.org/state-business-tax-climate-index-2018