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Nevada Corporation
The heart of the practice is domestic and international business transactions and disputes.
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Nevada, like Delaware, is well known as a corporate haven. Many major corporations are chartered in Nevada, particularly corporations whose headquarters are located in California and other Western states.
The reason for this choice is that, in general, a corporation which operates in more than one state has one particular state where it is incorporated. In that state, the company is considered a domestic corporation while, in all other states where it operate, it is considered a foreign corporation. In many instances, when a lawsuit arises, the court will apply the law of the state where the company is incorporated rather than the law of the state where the lawsuit is filed.
As explained more fully in the next section, Nevada law is much more favorable to corporations than the laws of most other states, particularly with respect to management.
As a practical matter, incorporation in Nevada offers US citizens or residents certain advantages over Delaware, while most US aliens prefer Delaware over Nevada. Moreover, while public companies can benefit from Nevada's flexible statutes, Nevada is particularly attractive to privately-held corporations.
LEGAL BENEFITS
Nevada's laws offer flexibility to a board of directors in
managing the affairs of the corporation and permit management to
put in place strong protections against hostile takeovers.
TAX BENEFITS
Nevada's tax structure is one of the big benefits to
incorporating in Nevada. Nevada has no franchise tax.
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| Quick Facts |
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Don't
be penny wise, pound
foolish. Have your
contracts
reviewed/drafted by an
HLA attorney.
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Business transactions
are a delicate balance
of nurturing the deal
while protecting the
client's interests.
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