Corporation (Inc.)

NEVADA

Corporate Naming Requirements:
In Nevada, the corporation's legal name does not require a corporate designator unless the corporation's legal name is the name of an individual (i.e. John Doe, Inc). The corporate designators that can be used are "Incorporated," "Corporation," "Company," "Limited," or the abbreviations "Inc.," "Corp.," "Co.," "Ltd." Although corporate designators are typically not required in Nevada, it should be used anyways in order to tell the general public that you are a corporation.

Special Note: If you are forming a professional corporation, you may be required to comply with special naming requirements. As a general rule, if your profession requires a license, you should always check with the licensing board for special naming requirements before incorporating.

Corporate Record Requirements:
Nevada corporations are required to keep a copy of the following documents at their Registered Agent's office:

• A copy of the Articles of Incorporation and any amendments thereto.
• A copy of the Bylaws and any amendments thereto.
• A copy of the most updated stock ledger or a statement indicating where it is located.

State Corporate Taxes:
There are no state income or franchise taxes in Nevada.

Nevada's Reporting and License Requirements:
All corporations are required to file a "List of Directors/Officers and Business License" with the Secretary of State. The filing fee for the list is $125.00 and the business license is $200.00. After formation, you must file an initial list by the last day of the month which follows the incorporation date (i.e. if your articles were filed in January, then your must file your initial list and business license before the end of February). Afterwards, you must file this list and business license each year anytime before your articles anniversary date (i.e. if your articles were filed in August, then you must file your list and business license anytime before the end of August of each year).

Special State Level S-Corporation Election:
Since there are no state income taxes in Nevada, there is no state level election is required.

Professional Services:
Nevada allows professional services (i.e. doctors, lawyers, accountants, architects, etc) to form a Professional Corporation. Professional service C-corporations must pay federal income tax based on the federal personal service corporation (PSC) tax rate which is a flat 35% on all income instead of the regular progressive tax rates. The PSC flat tax can be avoided by electing to be a Professional S-corporation instead.

State Director Requirements:
Below is a brief overview of Nevada's director requirements:

• Minimum Number: In Nevada, you must have at least 1 director.
• State Residence Requirements: The directors are not required to be Nevada residents.