Here are the considerations when incorporating in
Nevada vs. Wyoming
If you've done your research, and you're a small business, you've come to recognize that Nevada and Wyoming are the best possible states to incorporate. They both have remarkable advantages compared to the other 48 states. But the question becomes, which should you choose between the two?
First of all, Wyoming has almost always been a business-friendly state. It has pioneered various incorporation options for small businesses, and has often taken the lead with little-known, or not-yet-recognized business entity options. For example, Wyoming was the first state in the US to offer the option of LLCs. This entity type has become the de facto alternative for many small businesses, and is now recognized in nearly all states. The idea was birthed from businesses in Europe, but Wyoming was the first to offer this flexible and advantageous option in the US.
In addition, Wyoming doesn't have annual filing fees. This may seem like a small hurdle, but this can be thousands of dollars of savings in a few short years.
Nevada, on the other hand, has become the most popular destination for small business incorporation. It is the most often recommended option for small businesses looking to maximize profits and minimize liabilities.
Nevada also offers charging order protection. Basically, this means top-tier privacy and anonymity for business owners. To find out the perfect fit for your business, you'll want to talk to a seasoned professional.
At Wyoming Business Center, we have offices in Wyoming and Nevada, so we aren't biased when it comes to recommending a state for your particular business.
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