Nevada has some of the strongest laws in the country to prevent piercing the corporate veil. If your company loses a lawsuit launched against it, the judgment does not bleed over into the owner’s personal assets.
It is also one of only thirteen states in the US where the only remedy a creditor can secure against a limited liability company is a charging order. What that means is, if you are sued personally, the judgment creditor cannot force his way into your LLC to sell off the assets and distribute the proceeds to himself. All he can do is wait for the managers of the company to make a distribution so he can take your portion of that distribution to help pay the debt.
Setting up a business in Nevada or placing valuable assets inside a Nevada LLC for protection might be a good idea, even if that LLC needs to be registered in a foreign state as well. It is an option worth looking at. Just bear in mind that the costs of operating in two states are significantly higher, so the benefits need to be worth it for your particular situation.
If you decide to form a company in Nevada, we have a number of services specific to this state.
Nevada Bank Account
Your Entity Solution, LLC will assist you with the set up of a Nevada bank account for your company or corporation. Proof of Nevada Business Presence may be required.
Annual List Filings
When your Nevada company or corporation is set up, you will be required to file an Annual List with the Secretary of State and a Nevada Business Registration for a license through the Nevada Department of Taxation. We can file these for you and ensure that the filings are completed on time.
Please let us know what services you are interested in by completing the form below.