Andy nodded and said "Boss, we're registering the group in Las Vegas. Nevada's low taxes and absence of personal income tax make it beneficial for the company. If the plan meets your approval, I'll formally submit the application to the Las Vegas government."
Nevada, where Las Vegas is located, is one of the best investment environments in the U.S., with no corporate or personal income tax, the lowest business tax in the U.S, and no franchise tax, only a small annual maintenance fee, no share tax, minimal reporting and information disclosure requirements, no public shareholder records, and shareholders, directors, and officers are not required to reside in Nevada or hold meetings there, nor do they need to be U.S. residents. Directors don't have to be shareholders.
There's another impressive point: Nevada has not signed an information sharing agreement with the IRS, meaning the IRS cannot easily obtain tax information from Nevada companies.
