Corporations have different legal advantages as well. Here are some to consider if you are going to incorporate in Nevada.
- Simple Corporate revival procedures.
- Efficient, predictable Business Court minimizes the costs and risks of business litigation.
- Amendments may be filed with delayed effective dates.
- Entities formed in other states may be converted into Nevada entities so they can have the same advantages and flexibility.
- Piercing the corporate veil in Nevada requires the presence of “fraud” or “manifest injustice”. This is the highest standard for personal indemnification available.
- Charging order protection for stock of closely-held corporations protects stockholders of all Nevada corporations with between 2 and 75 shareholders. Nevada is the first – and only – state to offer this level of shareholder protection!
- Nevada’s charging order protection statute protects S corporations from losing their federal S election in the event of a judgment against a shareholder. This prevents potentially significant negative tax consequences.
- Corporate directors have greater flexibility in consenting to corporate actions
- Reinstatement of entities has the legal impact as if the corporation had always been in good standing, thus preserving the corporate veil.
- Dissenting shareholders prohibited from voting shares or receiving dividends in certain circumstances.
- Stock transfer agents are required to be licensed, ensuring high ethical standards.
- A corporation may elect to renounce specific business opportunities.
- Articles of incorporation may require more than a plurality of votes cast by stockholders in order to elect directors, if desired.
- Restated articles of incorporation do not need an accompanying resolution upon filing.
- Corporate revival procedures are simple.
- Efficient, predictable Business Court minimizes the costs and risks of business litigation.
- Amendments may be filed with delayed effective dates.
- Entities formed in other states may be converted into Nevada entities so they can have the same advantages and flexibility.
