IncSmart Nevada (Small Business and Startups) -
IncSmart Nevada (Small Business and Startups) - In a Nevada Subchapter S Corporation, taxable income will be allocated proportionately among the shareholders. A C corporation would be subject to corporate tax rates ranging as high as 39%. After tax corporate income, when distributed as income to shareholders, would be taxed a second time on the individual's income tax returns. The double taxation of corporation can be eliminated and reduced with a Subchapter S Corporation. A Subchapter S Corporation income is taxed to the shareholders, and keeps the benefits of a LLC.
A Sub Chapter S business, for federal income tax filings, is a closely held corporation, or a limited liability company or partnership, that allows these legal entities to elect to be taxed under Subchapter S codes. The S filings do not pay any federal income taxes. Instead, the business income or loss is divided among the shareholders, members or partners, (called pass through). The shareholders must then report the income or loss on their own individual income tax returns. The S corporation must have 75 or fewer shareholders, and all shareholders must have a Social Security Number.
By David Oliver
Starting a Business in Nevada - Nevada Corporation - Nevada LLC
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Nevada Corporations and Nevada Limited Liability Companies. When you call, email, instant message or live chat with our office, expect personal attention. We are very excited about helping you form your new company. Each state is so different when it comes to filing documents, you will know right away you are in the right place. #incsmart
How to form Nevada Corporation - Link
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How to amend articles for INCs and LLCs - Link
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