The Nevada Myth

October 8th, 2022 by admin No comments »

After you have decided that incorporating is beneficial for your business,Guest Posting some people consider incorporating in states outside of their home state. Most notably, Nevada has been promoted by many “incorporating services” as having incredible benefits as opposed to the client’s home state. Other states such as Delaware and more recently Wyoming have also received consideration for incorporating. In some cases, depending on the facts of your business, there are some benefits in forming an out-of-the-home-state corporation in states such as Nevada. However, in the majority of cases the benefits of forming a Nevada corporation is simply a myth and will often be more expensive and troublesome than filing in the company’s home state.

Law of the Land: Foreign Entities

This may be a surprise to many, typically, corporations will be governed under California law despite being incorporated in Nevada. Let’s assume you do file a Nevada, yet you operate all of your business in California. Under this scenario, you are deemed to be a “pseudo foreign” corporation. If the corporation is a pseudo foreign corporation, California law in many areas will supersede the law of the state where the company was incorporated in. (See California Corporation Code §2115(b)). Therefore, for companies entirely based in California and doing business in California, practically all of the claimed benefits of incorporating in Nevada are out the window. It should be noted that if a Nevada corporation operating in California fails to qualify as foreign corporation, it may be subject to a number of sanctions. (See California Corporation Code §§2203, 2258, 2259).

Nevada v. California

The benefits typically touted by a Nevada corporation are the following: lower costs; tax savings; and greater privacy. But is any of it true? Below we will discuss some of these issues.

Expense: Contrary to what many people believe, it is more expensive to file in Nevada than in California. Here are some of the additional expenses: the initial filing fee is more; the Statement of Information is much more; you will be required to file a Statement and Designation of Foreign Corporation in California; and you will be required to hire a Nevada Agent for Service of Process each year. For large clients, the additional cost (of approximately $500 more) is not a big consideration, but for smaller businesses every dollar counts.

Taxes: The tax ramifications is usually one of the most important reasons for deciding whether to incorporate and where. Nevada’s secretary of state website says that Nevada has none of the following: (1) corporate income tax; (2) taxes on corporate shares; (3) franchise tax; and (4) no personal income tax. So how does this actually play out? The bottom line is if you are doing business anywhere other than Nevada, you will still be required to pay taxes in the state where you are conducting business. So if you are operating and generating business in Nevada, this can be a huge benefit, otherwise if you are generating money in California, you are required to pay California’s taxes. Furthermore, any income earned by a Nevada business and paid out to a resident of another state will be subjected to the taxation of that state. Therefore, the income passed on to the shareholders of an S-Corporation in Nevada will be taxed at both the federal level and in the state where the shareholder lives (this also applies to other pass-through entities such as LLCs).

Nevada Drug Possession, Sale and Trafficking Laws

March 16th, 2022 by admin No comments »

The impact for a drug conviction can be severe for misdemeanor and felony offenses in Nevada. With the widespread use of background checks, a conviction can shut many doors for future employment opportunities. Certain fields may be especially thorough with background checks and will disqualify individuals with drug convictions. This includes many healthcare fields, law enforcement agencies, and other government bodies. Given what is at stake, it is important to understand the Nevada drug laws, even if you are being represented by a defense attorney.

Currently, Nevada laws severely punish individuals arrested for possession, manufacturing, cultivation and trafficking of illegal drugs. Commonly used drugs in this list include cocaine, heroin, opium, LSD, ecstasy and a variety of other narcotics. Chapter 453 of the Nevada Controlled Substances Act defines the schedule of drugs, offenses and penalties in the state. Some of the defined offenses are:

NRS 453.316 – Maintaining a place for unlawful sale, gift or use of a controlled substance
NRS 453.321 – Offer, attempt, or commission of unauthorized acts relating to controlled substances
NRS 453.322 – Offer, attempt, or commission of manufacturing or compounding of controlled substances
NRS 453.331 – Distribution of controlled substances, use of unauthorized registration number and possession of signed blank prescription forms
NRS 453.333 – Second or subsequence offense for selling a controlled substance to a minor
NRS 453.336 – Unlawful possession not for purpose of sale
NRS 453.337 – Unlawful possession for sale of flunitrazepam (Rohypnol), gamma-hydroxybutyrate (GHB) and schedule I or II substances
NRS 453.338 – Unlawful possession for sale of schedule III, IV, or V substances
NRS 453.3385 – Trafficking in controlled substances Trafficking in controlled substances: Rohypnol, GHB, and schedule I substances (not including marijuana)
NRS 453.339 – Marijuana trafficking

Penalties for drug crimes in Nevada can vary, depending on the specific criminal offense, circumstances of the arrest, amount of illegal drugs involved, previous criminal history of the alleged offender, and strength of the defense or prosecution’s case. Under Nevada’s Controlled Substances act, the most common offenses may be punished as follows:

Drug Possession, Not For Sale

Class E Felony (1st or 2nd offense,schedule I, II, III, or IV) – 1 to 4 years in state prison or probation and/or up to $5,000 in fines
Class D Felony (3rd or subsequent offense, schedule I, II, III, or IV) – between 1 and 4 years in state prison and/or up to $5,000 in fines
Class E Felony (1st offense, schedule V) – between 1 and 4 years in prison or probation and/or fines up to $5,000
Class D Felony (2nd or subsequent offense, schedule V) – 1 to 4 years in Nevada state prison and/or up to $5,000 in fines

Unlawful Possession of Schedule I or II Drugs, Rohypnol, or GHB

1st offense, category D felony – 1 to 4 years in state prison and/or up to $5,000 in fines
2nd offense, category C felony – between 1 and 4 non-probational years in Nevada state prison and/or up to $10,000 of fines
3rd or subsequent offense, category B felony – punishable by 3 to 15 non-probational years in state prison and/or a fine of up to $20,000 for each offense

Unlawful Possession for Sale of Schedule III, IV, or V Drugs

1st and second offense, category D felony – punishable by 1 to 4 non-probational years in state prison and/or up to $10,000 in fines
3rd or subsequent offense, category C felony – can be punished by 1 to 5 non-probational years in Nevada state prison and/or up to $10,000 in fines

Drug Trafficking (Schedule I)

Category B Felony (between 4 and 14 grams) – Punishable by 1 to 6 non-probational (mandatory prison) years in Nevada State Prison and/or up to $50,000 in fines

Category B Felony (between 14 and 28 grams) – Punishable by 2 to 15 non-probational (mandatory prison) years in Nevada State Prison and/or up to $100,000 in fines

Category A Felony (28 grams or more) – Punishable by 25 non-probational (mandatory prison) years to life and a fine of up to $500,000

However, Nevada has surprisingly moved to a certain level of acceptance regarding marijuana, along with many other states in the country. Nevada decriminalized the use of medical marijuana in 2001 when 65% of the state’s voters moved to amend the state’s constitution to recognize its legitimate use in a medical capacity. However, to remain in compliance with the state law, medical marijuana users must have documented permission from a physician.

Reputation Management is the Answer How Your Business Is Perceived

February 25th, 2022 by admin 1 comment »

Is it true that you are keen on finding out about dealing with your standing? Have you been searching for accommodating and solid data? Indeed, this article will ensure you get a few strong ideas. It will assist you with sorting out some way to more readily deal with your standing.

Posting data via online media locales is essential to your business’ standing. You should post a few times each week at any rate to actually run an advertising effort. Assuming you see that posting via online media locales is overpowering, consider recruiting an aide to make your posts for you.

At the point when individuals invest in some opportunity to offer something about your business, it is vital that you are sufficiently gracious to answer. While you might be an extremely bustling individual, it shows your crowd that you really care about them and what they need to say. This is imperative to keep a consistent client base.

At the point when you talk with your crowd, ensure that you do as such in a conversational tone. Individuals try to avoid the possibility of entrepreneurs continuously addressing them with promoting to them. While you would like to make a deal, you ought to never cause a client to feel like this is your main concern.

Be grateful. Assuming somebody leaves a decent audit about your organization, send them an individual message and express gratitude toward them for their criticism. On the off chance that conceivable, send your client a coupon for a specific percent off on their next buy as a much obliged. In the event that this is preposterous, earnestly say thanks to them for their input.

Assuming you will utilize anybody’s thoughts, you ought to constantly make a point to give them credit for that. Everybody out there can advance a little from others, so giving due credit will show individuals that you don’t think you are over that. This is an extraordinary method for getting their appreciation.

On the off chance that you own a business, treat your representatives consciously. Any other way, you might foster a negative standing as an entrepreneur. Certain individuals won’t give you business as a result of it.

Check any regrettable web-based content on your organization by reaching its maker. Assuming there is at any point any regrettable substance when you do an inquiry of your organization, take a stab at reaching the commentator, blogger or whoever posted it at the earliest opportunity. Inquire as to whether there’s anything you can do change their negative feeling to a good one. Assuming they are reluctant to do as such, compose a comment(if conceivable) with your side of the story.