This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Purpose Of Bylaws For Corporations In Nevada
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Does Nevada Require Corporate Bylaws? No. NV Rev Stat § 78.046 describes some of the powers bylaws can have, but it doesn't mandate that corporations adopt bylaws. Even so, bylaws are essential legal documents for corporations.
This is because Nevada doesn't have a state income tax, a state corporate tax, or a state franchise tax. In recent months, many large corporations are attempting to move their state of incorporation to Nevada.
How to Start a Corporation in Nevada Name Your Corporation. Designate a Registered Agent. Submit Articles of Incorporation. Get an EIN. File the Beneficial Ownership Information Report. Write Corporate Bylaws. Hold an Organizational Meeting. Open a Corporate Bank Account.
Chapter 78 - Private Corporations. NRS 78.315 - Directors' meetings: Quorum; consent for actions taken without meeting; alternative means for participating at meeting.
The Nevada Business Corporation Act allows businesses to be formed to conduct any lawful business. The act allows for a corporation to serve a purpose aside from those stated in the articles of corporations.
Some of the disadvantages are slightly higher filing and business license fees than other states, and the commerce tax for business with over $4 million of Nevada gross revenue.
The Nevada Advantage Nevada has some of the most favorable tax laws in the United States. The state has no personal income tax, no corporate income tax, and no franchise tax. This means that LLC owners and their businesses can keep more of their profits, which can be reinvested back into the company.
Topics to Include in Your Corporate Bylaws. Shareholders' Meetings. Corporate Officers: Positions, Duties, and Appointment. Board of Directors: Number, Term, and Elections. Board of Directors Meetings. Corporate Records and Reports. Shares and Stock Certificates.