OVERVIEW

You Know it's Necessary & Needed - But, KNOW BEFORE YOU GO.... any Further

Before you incorporate understand what a corporation is, what is not, how to view it, treat it, and implement this powerful structure. Nevada recognizes a CORPORATION as a LEGAL ENTITY, it is more than its stockholders, Directors, Officers or employees.

Simply stated, it stands alone with an indefinite life span.

A CORPORATION can buy, sell, trade, own property, etc., in fact anything an individual can do, a Corporation, LLC, LLP, etc., can do. However, anything and everything these entities "decide" to, it MUST DO; via its BI-LAWS, and subsequent resolutions. All actions must be done thru its Directors and Officers. The Nevada Revised Statutes (NRS) provide the Directors and Officers with the strongest CORPORATE VEIL of any state.

A Nevada registered CORPORATION becomes a "CITIZEN" of the state the state of it's inception. However it's stockholders, directors, officers and or employees do not have to be residents thereof

Nevada requires that any foreign or domestic CORPORATION, registered in the state, must have a RESIDENT AGENT, and this AGENT'S office address will become the CORPORATION'S legal Nevada address.

There are many BENEFITS, TAX SAVINGS, TAX STRATEGIES and ASSET PROTECTIONS that can be effected via your Nevada registration. They can be quickly reviewed at: TAX Shelters

Nevada further offers several additional legal entities such as LIMITED LIABILITY COMPANY - an LLC, A PERSONAL CORPORATION - PC, Limited Liability PARTNERSHIPS AND CORPORATION.

The LLC possesses the best qualities of both a corporation and the partnership. The LLC has MEMBERS not STOCKHOLDERS, functions on an OPERATING AGREEMENT rather than BI-LAWS. In Nevada it has essentially the same CORPORATE VEIL as the corporation but is far more manageable, less government i.e. Federal and IRS, intervention, and has the tax effective pass thru of all income and losses directly to the MEMBERS. Possibly the salient feature of this profit pass thru if the profits can be apportioned to the MEMBERS in any quantity as management may elect.

In conclusion, Nevada simply is the best state to register any entity. Please call upon my in-depth experience to examine your individual and specific needs.

• The Nevada Corporation: NRS 78
• The Nevada Limited Liability Company: NRS 86
• The Family Limited Partnership: NRS 88

The Nevada Corporation: NRS 78

The NEVADA CORPORATION (NC) is a statutory entity, established by the State of Nevada via Nevada Revised Statutes (NRS) #78. A NC is an entity unto itself. It is totally separate from all individuals, i.e. its Incorporators, Stockholders, Directors, Officers , and employees, i.e. "THE CORPORATE VEIL". In the eyes of the State of Nevada a NC is an individual and can do virtually anything an individual can do, say, buy, sell, own property, real or personal, create debt, raise capital and funds, etc. etc. These functions that must be made by Directors, Officers and/or Employees with authority, THIS ELIMINATES PERSONAL LIABILITY.

Nevada has become an absolute haven for NC's offering strong immunity to the assets of the corporation, protects the Directors, Officers and Employees of the corporation against frivolous suit and best of all, no corporation or individual income taxes.

Nevada corporations further have no franchise tax, no capital gains tax, no transfer tax, no inheritance tax, no inventory tax, no minimum capital requirements and most important, no communication or disclosure with US Internal Revenue Service.

A NC to become a truly legitimate entity, should have a business address, which can be Corporate Formality, Inc.'s offices, a Nevada bank account, a local telephone and both Nevada and Clark County business licenses. All of these can be affected in less than 30 hours.

In addition to virtually "bullet proofing" all assets placed within, and the protecting of its principals and employees, the NC offers great IRS tax savings. For "openers", the tax rate on a C-CORP only 15% percent on the first $50,000. of taxable income, far less than the typical 28% to 35% individual rate, yet offers full deducibility of many of most individual's after tax living expenses. A short list of these can be company vehicles, insurance premiums both life, accident and disability income, meals, travel, entertainment, 401(k) plans etc. etc. Thru a SIMPLIFIED EMPLOYEE PENSION (SEP) the (NC) can deduct up to $40,000.00 per year from its taxable income, per employee, thus a family of four (4) could deduct up to $160,000.00. from taxes.

Please call upon me to confidentially expand upon many of the tax minimizing strategies that I have developed thru my many business years, INCLUDING TAXES IMPOSED IN OTHER STATES.

Corporate Formality, Inc., can incorporate an NC in the State of Nevada in twenty four (24) hours and that includes the Employer Identification Number (EIN) and an excellent set of BY-LAWS that totally mirror the NRS # 78, thus to maintain your NC in good standing with the State of Nevada at all times. A corporate bank account can be opened the same day. CALL ME ON STRATEGY TO ELIMINATE TAXES IMPOSED BY OTHER STATES - go to fees

By making an IRS Application (form 2553) FOR SUB-Chapter "S" Status you can COMPLETELY ELIMINATE THE 15.3% SELF EMPLOYMENT TAX"...!

CALL ME FOR COMPLETE DETAILS ON THIS VERY SIMPLE , BUT LEGAL STRATEGY

Feel you need to discuss your options? upon us today to discuss a NC application tailored to your business and personal needs. We can then arrange a time to discuss whatever time is necessary to totally and adequately satisfy your requirements. Note: you need not to be a Nevada resident, nor the business in Nevada, nor reside in Nevada, to have a NEVADA CORP.

The Nevada Limited Liability Company: NRS 86

The NEVADA LIMITED LIABILITY COMPANY (LLC) is a statutory entity, established by the State of Nevada via Nevada Revised Statues (NRS #86). An LLC is an entity unto itself. It is totally separate from all individuals, i.e. its Members, Managing Member(s) and employees. In the eyes of the State of Nevada a LLC is an "individual" and via its OPERATING AGREEMENT (O/A) can do virtually anything a real individual can do, say, buy, sell, own property, real or personal, create debt, raise capital and funds, etc. etc. Major changes in the O/A are effected by Member Resolutions.

Nevada has become an absolute haven for LLC's offering VIRTUALLY TOTAL IMMUNITY against litigation for its members, and NEVADA has no state LLC or individual income tax.

Nevada LLC's further have no franchise tax, no capital gains tax, no transfer tax, no inheritance tax, no inventory tax, no minimum capital requirements and most important, no communication or disclosure with United States Internal Revenue Service.

An LLC to become a legitimate entity, should have a business address, which can be Nevada Registrations, Inc's offices, a bank account, a telephone and both a Nevada and Clark County business license. All of these can be affected in less than 28 hours.

The LLC offers great IRS tax savings. For "openers", there is no tax on the LLC itself, all taxable income drops directly thru to the individual Member's personal 1040 IRS return, which can start as low as 5%. The LLC offers full deductibility of many of the individuals after tax living expenses. A short list of these can be company vehicles, insurance premiums life, accident and disability income, meals, travel, entertainment, IRA and 401(k) plans etc. etc.

Please call upon me to confidentially expand upon many of the tax minimizing strategies that I have developed thru many business years.

The LLC can be chartered in the State of Nevada in twenty four (24) hours and that includes the Employer Identification Number (EIN) and an excellent generic (a model) OPERATING AGREEMENT, which totally mirrors the NRS's requirements, thus maintaining your LLC in good standing with the State of Nevada from it's inception onward and at all times.

The Family Limited Partnership: NRS 88

The FAMILY LIMITED PARTNERSHIP (FLP) is the foundation of every sound ASSET PROTECTION PLAN. The FLP, a statutory entity, established by the State of Nevada via Nevada Revised Statutes (NRS) # 88, can be used by anyone in the world to successfully shield, preserve and protect any and all assets once placed into the FLP. In simple language the FLP insulates your valuables from judgment or claim against all creditors.

Once the FLP is Chartered with the State of Nevada by the husband and wife, or any single person* they can then immediately transfer into the FLP their own home , savings & checking accounts, stocks & bonds, insurance policies, etc. i.e. anything of value, real or personal, tangible or intangible, as long as the asset transferred is not of a dangerous nature such as cars, vehicles, rental property or operating businesses, and can safely enjoy the benefits, as beneficiaries, for the rest of their lives.

Typically the husband and wife become one (1%) percent General Partners (G/P) and ninety nine (99%) percent Limited Partners. Children, or other designated beneficiaries, can share any part of the 99%, voting or non-voting. see below, Nominee General Partner. *

As 1% General Partners, the husband & wife, or whoever establishes the FLP, maintains sole and absolute control over the entity and Nevada law (NRS # 88) prohibits any creditor or predator from seizing assets, or forcing distribution of any assets contained therein; specifically, this statutory protection is afforded by NRS 88.535.1 & .2(a) & (b).

The FLP, not only affords complete control over the distribution, or preservation of the assets contained therein, at the time of death of the General Partners, but totally bridges over probate and any legal costs at that point in time.

For large estates the FLP enables the parents to periodically grant the children Partnership Interests far exceeding the current joint $22,000.00 cash limitation, yet be in full compliance with inheritance laws and regulations. (Call to explore this tax saving strategy)

The FLP, in tandem with a Family Will, provides the ultimate, all-encompassing Asset Protection Plan and Tax Savings Estate Planning.

The FLP can be Chartered in the State of Nevada in twenty four (24) hours and that includes the Employer Identification Number (EIN), all Nevada fees, Resident Agent services and a superior Partnership Agreement (P/A) tailored to the clients needs and asset goals.

University of Nevada, Las Vegas, advises "the FLP has never been pierced".

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