Nevada Corporation Downside: Nevada annual fees are $650 per year in state fees. Wyoming fees are $50 annually.
Forming a Wyoming Corporation affords you the following:
Wyoming offers less expenses with less drama. Wyoming is known for clean business, defense industries, ranching, tourism, mining and a rodeo. In comparison, what is Nevada famous for?
In Nevada, their banks are nervous about legalized cannabis, legalized prostitution, and cash industries that support the gambling industry. Why associate your business to that level of scrutiny? If the banks in Nevada are concerned, then the banks across the USA are also worried about Nevada companies. Further, Las Vegas runs hot on the money laundering heat map.
Wyoming Disclosure: Wyoming corporations must declare all assets in Wyoming on the annual report. Obviously, if the Wyoming corporation has no assets in Wyoming, then declare nothing.
To avoid listing these assets, simply hold assets outside the state of Wyoming. This is an easy solution.
Can’t make up your mind between the Nevada corporation and the Wyoming corporation? The truth is that most stockholders, or even the incorporators, don’t take advantage of the strengths of either. The differences are subtle between the two states but important for those interested in maximum protection. The lay person won’t know the difference. This is why you should call 307.237.2580 or 484.256.4563 for a free consultation on how to maximize your advantages with either a Nevada or Wyoming corporation.
Delaware Corporation Strengths and Weaknesses: Delaware is best if you’re intending to go public with an initial offering of stock to be traded on an exchange. If your company stock won’t be traded on an exchange, then there’s no point for a small business to incorporate in Delaware.
Delaware is the best state to incorporate for the publicly held corporation.