Introduction – Why Nevada?

A report released by the Office of Advocacy, U.S Small Business Administration reveals that more than 250,000 small businesses have been registered in the state since the third quarter of 2017 including 2,617 small business exporters. This brings us to the question, why are businesses attracted to Nevada?

• Tax Benefits: One of the biggest advantages of moving LLC to Nevada is the varied amount of tax benefits that are applicable to LLC’s as well as business corporations like:
  • The business registration fees are lower than most states
  • According to the constitution of Nevada, state personal income taxes are prohibited
  • There is no franchise or corporate taxes
  • There are no taxes on corporate profit or shares
  • The tax policies in Nevada ensure that the recipient of your gifts is not liable to pay inheritance tax in the state
  • There is no formal agreement for information sharing with the IRS
• Business Protection Policies: Nevada has a strong asset protection and privacy protection policy for business owners thus helping them retain anonymity. The privacy standards for businesses in the state are quite high and if you are moving Corporation to Nevada or an LLC then you will not be required to list the owners or members with the state. If your business has any investors then their identities will also remain anonymous.
• Other Salient Benefits: Some of the other salient aspects that will benefit a wide range of businesses include:
  • Moving LLC to Nevada doesn’t require you to reside in the state
  • A strong corporate veil in Nevada that provides protection to officers, directors, employees, and agents from liability
  • The state of Nevada ensures businesses don’t have any restrictions on the number of members in any Limited Liability Company
  • Bearer shares are prohibited in Nevada
  • There are a range of programs that LLC’s and Corporations can benefit from like the Emerging Small Business (ESB) Program, Opportunity Zone Incentive Programs, Government Grant Programs, Foreign Trade Zone Programs, and Sales and Use Tax Abatement Programs, among others.

Steps to Move an LLC to Nevada

Moving LLC to Nevada is a highly beneficial decision as the state offers several advantages to small and medium businesses or owners including new and existing businesses. If your business is registered in another state and are planning to establish in Nevada then it should be an informed choice. You need to be aware of the options for moving your business, and information regarding the process.

The Registration Options

It is important to identify, how you would want to register your business identity. There are 3 options to choose from:

• Dissolve home LLC and Establish New LLC: This is the option to choose if your home state doesn’t allow domestication of LLC to Nevada. As such there are no tax consequences but since assets and debts have to be transferred prior to dissolving, you may have to pay taxes for such transfers. Apart from this, you will be required to apply for a new Tax ID number.
• Domesticate LLC in Nevada: If you already have registered your business in another state and are planning on moving LLC to Nevada then one of the options is to domesticate LLC in the state. This is one of the easiest ways to relocate your business to this state. You need to check if your state allows domestication in Nevada like New York doesn’t allow but Wyoming or Mississippi allows businesses to domesticate. In order to domesticate, you will be required to file the Articles of Domestication pursuant to NRS 92A.270 with the Secretary of State.
• Register as a Foreign LLC: The final option for moving LLC to Nevada is to register your business as a Foreign LLC in Nevada pursuant to NV Rev Stat § 86.544 (2013). This option will help you continue the LLC in current state as well, which also means that you will be required to file annual reports in both Nevada and your home state. If you are planning to register as a foreign LLC then you will be required to file an Application for Registration of Foreign Limited Liability Company pursuant to NRS 86.544 with the Secretary of State.

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Steps to Move a Corporation to Nevada

Are you thinking of moving Corporation to Nevada? There are several benefits of moving your business to Nevada but how does this work? Is there a process? The process is similar to that of a Limited Liability Company although the tax consequences will be different.

The Registration Options

It is important to identify the options for moving Corporation to Nevada. There are 3 options to choose from:

• Dissolve home Corporation and Establish New Corporation: If your home state doesn’t allow domestication to Nevada then this option is valid. There could be certain tax disadvantages of this process. You will be required to apply for a new Tax ID number in Nevada. you will be required to file the following documents with the Nevada Secretary of the state:
  • You will be required to file the “Articles of Incorporation Domestic Corporation” pursuant to NRS 78 or “Articles of Incorporation Professional Corporation” pursuant to NRS 89.
  • Certificate of good standing from the existing state of the business entity
  • Registration of Business Name
  • State Business License Application
  • Registered Agent Acceptance/Statement of Change pursuant to NRS 77.310, 77.340, 77.350, 77.380
• Domesticate Corporation in Nevada: If you already have registered your business in another state and are planning on moving Corporation to Nevada then domestication is another option. The board of directors should approve domestication and you will be required to file the following documents with the Nevada Secretary of the state:
  • Articles of Domestication pursuant to NRS 92A.270
  • Charter document of the existing Corporation
  • Charter document for the new Corporation
  • Certificate of good standing from the existing state of the business entity
• Register as a Foreign Corporation: One of the ways of moving Corporation to Nevada is to register your business as a Foreign Corporation pursuant to NV Rev Stat § 80.010 (2014). This option will help you continue the business corporation in the current state (state of incorporation) as well. In such a scenario, you will be required to file annual reports in both Nevada and your home state. If you are planning to register as a foreign Corporation then you will be required to file the following documents with the Secretary of State:
  • Qualification to do Business in Nevada pursuant to NRS Chapter 80
  • A declaration of the existence of the business corporation
  • A declaration that the said corporation is in good standing
  • Information pertaining to authorized stock of the corporation

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Move Your Business to Nevada with IncParadise

If your business exists in another state and you are overwhelmed by the entire process of moving LLC to Nevada or any other type of business then IncParadise is there to ensure the transition is smooth. We are experts in moving or transfer of businesses to other states and can help file the right documents.

Why you need a Registered Agent in Nevada?

Different states in the USA have different laws and regulations pertaining to new business formation or foreign business registration. One of the important aspects of business formation law is that every company should be represented by a registered agent in the state. There are several reasons why any business registering in requires Nevada registered agents. Some of the reasons are:

• By Law: If you are planning to incorporate then pursuant to NRS 78.090, every corporation should have or must be represented by registered agents residing in Nevada or has a business office in this state. If you are planning to form a Limited Liability Company then pursuant to NV Rev Stat § 86.231 (2013), a business entity should have Nevada registered agents having a valid street address in the state for facilitating service of process.
• Active Status: It is important to note that in most states or jurisdictions including Nevada, if a business fails to maintain a registered agent or fails to elect a change of registered agent Nevada, then it can lead to dissolution or revocation of the said business entity’s status. This can be detrimental towards the growth of the business as it will lose the authority to transact business in Nevada.
• Receiving Legal Notices: All businesses or companies can be served legal notices during their operational tenure. This is where the chosen registered agent plays the key role of receiving legal notices from the state on behalf of their clients. The Nevada registered agents protects a business entity from those filing the suits against such businesses
• Ease of process: One of the salient aspects of maintaining Nevada registered agents is the ease of process. Business formation or incorporation is a process that requires submission of articles and providing detailed information regarding the new or existing business. The entire process can be quite cumbersome and confusing. Since, registered agents like IncParadise are familiar with the processing

How can you change your Nevada Registered Agent?

Are you thinking of a change of registered agent in Nevada? How does the process work? A business entity can change their registered agent pursuant to NRS 77.310 by filing or submitting the “Statement of Change of Registered Agent” form with the Secretary of State. The change of registered agent form can be filed by mail, email, fax, or in person.

How long the process takes?

The processing time for changing your registered agent can vary from one state to another. However, the processing time for change of registered agent Nevada takes anywhere from 5-7 days.

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Why choose IncParadise as your Nevada Registered Agent?

The foremost requirement for registering any business entity in the state of Nevada is “physical address”. IncParadise, one of the top and reliable Nevada registered agents, offers your business with a business address or physical address that is legally approved. Some of our other services that you can benefit from include:

• Affordable and Fast Service: One of the salient aspects of choosing IncParadise as Nevada registered agents is that we will ensure you are able to enjoy fast, and secure, submissions and renewal processes. Do you need a change of registered agent?
• Receiving all types of Notices: We as your registered agents in the state of Nevada; will also be your representative when it comes to receiving legal and business related notices. Business related notices include filing annual lists or reports, which is an additional paid service. These services ensure your company is never fined or doesn’t lose its active status due to delay in submission of reports. We will help protect your privacy!
• Online Filing: As your chosen Nevada registered agents, we will provide you with an online account so that you can check and even download any business related documents.
• Top and Reliable agents: IncParadise is one of the top and reliable agents in the state of Nevada because we keep “customer satisfaction” right at the top of the list of services. We have helped in the formation or incorporation of over 10,000 business entities, both foreign and domestic in the USA. Call us today at 702-871-8678, so that we can guide you through the process of change of registered agent Nevada.

What is Texas Certificate of Fact of Good Standing?

Most businesses being incorporated or formed in the state of Texas require several different types of documentation depending on the business type. One such document is the Texas certificate of good standing, which has been changed by the comptroller’s office to “certificate of account status”. There is also a “certificate of fact” or business status issued by the Secretary of State. You are probably wondering what information this document contains or what the importance of such a document is.

Why do I need a Certificate of Fact in Texas?

Why should your company have an active Texas business status? Active status is important as it will ensure that a business entity formed in the state is able to access all the privileges offered by the state including business incentives, loans, and other financial instruments. The reasons you may require this certificate in Texas include:

A certificate of good standing is basically a Texas certificate of fact that highlights that a foreign or domestic limited liability company or corporation has:

• Submitted the franchise tax pursuant to Texas Tax Code, Section 171.255. Business entity needs to ensure it has been paid within the time as established by Texas Tax Code, Section 171.251 along with any delinquent tax and penalty.
• Has appointed and is maintaining a registered agent in the state pursuant to Business Organizations Code, Title 1- General Provisions, Chapter 5, Section 5.252-5.255 and Section 5.302-5.306.
• Have submitted the annual report or the Public Information Report (PIR) pursuant to Texas Tax Code – TAX § 171.203 with the State Comptroller office.

If a company loses the active Texas business status then it will not only lose its right to transact business in this state but will also be denied the right to sue or defend in a court of this state pursuant to Section 171.2515 of the Texas Tax Code. If a business entity forfeits the right to transact then this will have a negative impact on its existing clients, growth, financial transaction, and reputation. Hence, obtaining a certificate of good standing is crucial to the performance of a business.

A business entity will also require a Texas Certificate of Good Standing if they are planning a merger or acquisition, as it will be seen as a legal documentation of the entity.

What is California Certificate of Good Standing?

The certificate of good standing is also known as a Certificate of Status or Certificate of Existence in different jurisdictions. In the state of California, it is considered to be a proof of existence. It highlights California business status being active and having this certificate can help the business entity to enjoy the rights and privileges provided by the law like LLC’s can enjoy the privileges of limited liability. It is important to know that a business needs to be in compliance with all applicable corporate or LLC laws as well as licensing requirements.

Why do I need a Certificate of Good Standing in California?

Maintaining an active California business status is the key to growth through opportunities for every business in the state. You can achieve this status by submitting documents required by the secretary of the state annually including franchise tax. The certificate is issued by the Secretary of State – Business Programs Division and it authorizes new or existing or domestic and foreign business entities to avail of various financial incentives and take advantage of other business opportunities. The reasons you may require this certificate in California include:

A certificate of good standing highlights the fact that the California business status is active. This implies that foreign or domestic limited liability company or corporation has:

• Submitted the franchise tax of pursuant to CA Rev & Tax Code § 19021 – 19027 (2016)
• Has appointed and is maintaining a registered agent in the state pursuant to Corporations Code – CORP § 17701.13 for a business corporation and 2016 California Code – CA Corp Code § 1702 (2016) for a limited liability company
• Have submitted the Statement of Information report with the Secretary of the State pursuant to CA Corp Code § 2206 (2016) for business corporations and Title 2.6 California Revised Uniform Limited Liability Company Act, section 17713.10 for LLC.

The active status implies that a business entity in the state of California will be able to apply for bank loans or federal financial incentives. They will be able to create meaningful and beneficial business partnerships by signing up with vendors, which will eventually create a positive reputation for the company.

A foreign business entity requires a California certificate of good standing by law. According to CA Corp Code § 2101 (2016) for foreign corporations and CA Corp Code § 17708.02 (2016) for a foreign LLC, if a business entity fails to obtain the certificate of existence or good standing then they will not be authorized to transact their business within this State.

A business entity will also require the Certificate of Good Standing if they are planning a merger or acquisition, as it will be seen as a legal documentation of the entity.

What is Delaware Certificate of Good Standing?

The Delaware certificate of good standing is a document that is a proof of existence. It simply means that your business entity whether an LLC or a corporation has paid its taxes and any dues as of current date, in the state of Delaware. The document is signed by the Delaware Secretary of State and states that your company has good standing status or active status in the state on the date it was signed. In some of the states, this document is also known as the certificate of existence and in Delaware it is also known as the Certificate of Status.

Why do I need a Certificate of Good Standing in Delaware?

One of the most important documents for businesses being formed or registered in the state of Delaware, the certificate of good standing is issued by a state agency and in Delaware; it is issued by the Delaware Division of Corporations. The importance of this document is in the fact that it authorizes helps a new or existing or foreign entity to avail of various financial incentives and forge business relationships or partnerships with ease. There are several reasons you may require this certificate of Delaware business status and they are:

A certificate of good standing highlights the fact that the Delaware business status is active. This implies that foreign or domestic limited liability company or corporation has:

• Paid the franchise tax of $300 pursuant to 2 DE Code § 18-1107 (2014 through 146th Gen Ass).
• Has appointed and is maintaining a registered agent in the state pursuant to 2 DE Code § 132 (2014 through 146th Gen Ass) for corporations and 2 DE Code § 18-104 (2014 through 146th Gen Ass) for LLC.
• Have submitted the annual report with the Secretary of the State pursuant to 8 DE Code § 374 (2017)

As a result of the active status, you will be a able to apply for bank loans or any other state or federal financial incentives, create business partnerships by signing up with vendors, and build a strong and positive reputation that will eventually aid in the growth of the company.

A foreign business entity requires a Delaware certificate of good standing by law. According to 2 DE Code § 371 (2014 through 146th Gen Ass) for foreign corporations and 2 DE Code § 18-902 (2014 through 146th Gen Ass) for a foreign LLC, if a business entity fails to obtain the certificate of status or good standing then they will not be authorized to transact their business within this State.

What is Wyoming Certificate of Good Standing?

What is the significance of the Wyoming certificate of good standing? It is basically a document, which certifies that your business entity whether a domestic or a foreign entity exists legally in the state and is in compliance with all the requirements necessary to transact business in this state.

Why do I need a Certificate of Good Standing in Wyoming?

A certificate of good standing also known as the certificate of existence is one of the most important documents that business entities require in the state and you have to provide this document along with your articles or certificate of authority. The question is – Why would a business entity require a certificate of good standing at all?

The greatest barrier that a business entity may face in the state of Wyoming is losing their active status. A business can lose its active status if it has:

• Failed to hire a registered agent or maintain a registered office in the state pursuant to WY Stat § 17-29-705, (2015) for LLC and WY Stat § 17-16-501 (1997 through Reg Sess) for profit corporations
• Failed to pay the annual fee accompanying the annual report as required by W.S. 17-29-210 or submit annual report license tax pursuant to W.S. 17-16-1630
• Failed to pay penalties imposed under W.S. 17-28-109

Losing the active status means that the LLC or profit corporation has forfeited any rights or privileges it has in the state of Wyoming. In such a scenario the business entity will have to reinstate and apply for a fresh certificate after fulfilling the requirement of a registered agent and by submitting their annual report, fee, and penalties. This reinstatement process is the only way the company can have an active Wyoming business status. Losing your active business status can cause damage to the reputation of the business entity severely.

An active Wyoming business status indicates that the business entity in question has a good standing in the state and this is extremely useful for applying for loans and financial incentives as well as conducting business transactions in the state. This certificate will play a crucial role in ensuring there are no hindrances in the business operations.

A foreign business entity requires a Wyoming certificate of good standing by law. According to WY Stat § 17-16-128 (1997 through Reg Sess) for foreign corporation and WY Stat § 17-29-208. (2015) for foreign LLC, if a business entity doesn’t have the certificate of good standing then they will not be authorized to transact their business within this State.