Should new business owners incorporate in Nevada?

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Previously, I wrote about the pros and cons of incorporating in Delaware as a small business owner. My conclusion was that, for most small companies, the disadvantages outweigh any advantages. In this piece, I'll cover my thoughts on another state that is frequently pitched as a good place for incorporation: Nevada. I don't think there is much advantage for most businesses to incorporating in Nevada, as opposed to the business owner's home state. You will end up incurring double the fees, because you will have to pay Nevada's fees and then pay your own states fees to obtain authorization for your Nevada entity to do business in your own state. Despite this additional cost and complication, it is uncertain whether you will see any of the benefits, such as greater asset protection and liability protection, that are often promised in connection with incorporation in Nevada.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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