NEVADA CORPORATIONS AND NEVADA LLCS*

    The firm practices in the area of remediation of Nevada corporations and Nevada LLCs that have been used incorrectly or abusively. The firm assists its clients in fixing structures that involve Nevada corporations and LLCs where appropriate.


    Nevada corporations and LLCs are aggressively marketed and sold by Nevada company formation agents and even some attorneys as asset protection and tax planning vehicles. While Nevada corporations and LLCs can be an excellent asset protection vehicle if you actually live in Nevada and run a bona fide business there, they are all too often misused by persons living in other states and having their assets there.

    For instance, Nevada entities are often improperly sold as a way to hold California real estate. The promise (falsely) made is that the Nevada entities will provide asset protection to the California real estate. In fact, before a Nevada entity can even legally hold title to property in California, the Nevada entity must first qualify to do business in California by registering and paying fees with the California Secretary of State. When the Nevada entity does this, however, for most purposes it now falls under California law as if the entity had been formed there in the first place.

    In these situations, the only thing that the Nevada entity has accomplished is to unnecessarily double the annual fees that need to be paid. Additionally, if a non-qualified Nevada entity has attempted to take title to real property in another state, the only real effect is that the title to the property has now been clouded and additional costs will be required to un-cloud the title.

    The promise that Nevada entities can help to avoid state taxes is usually also bogus and may expose the owner to claims of criminal tax evasion within their own state.

    Probably most people who have formed Nevada corporations or LLCs should have just formed the entity in their own state to start out with. Contrary to the promoters' false claims, Nevada corporation and LLC law is not significantly better than that of any other state. The only advantages are illusory -- smoke and mirrors having no real substance.

    Our firm assists its clients in getting rid of unnecessary Nevada corporations and LLCs, creating in-state entities to replace them as necessary, and in fixing title problems and similar problems that have been created by their misuse.
    The all-time asset protection bestseller is available from:

    Amazon.com

    BarnesandNoble.com



    Prospective clients seeking to use the firm's services should call our new client coordinator at 949.629.1176 to set up a brief free telephone conference with an attorney of the firm to discuss the prospective client's suitability and the firm's process for assisting its clients once they have engaged the firm.



    * Please note that no attorney of the firm has sought board certification by any state as a specialist in any area of practice, and no attorney of the firm claims to be a specialist in any practice area. The firm does not solicit new clients in any jurisdiction where the firm does not have a member of the firm licensed to engage in the practice of law.

 

  

 

 

© 2008 by Riser Adkisson LLP. All rights reserved. This website may not be reproduced in whole or in any part without the express written permission of Riser Adkisson LLP.  The firm's attorney who is responsible for this website is Jay Adkisson. Issues regarding this website should be directed to Mr. Adkisson by fax to 877.698.0678 or by mail to 100 Bayview Circle, Suite 210, Newport Beach, CA 92660.

Riser Adkisson LLP does not practice in any jurisdiction unless one its attorneys has been admitted to practice there, or an attorney of the firm has been properly admitted pro hac vice according to the local court rules of that state. Nothing in this website should be construed to be any advertisement for legal services directed to a state wherein Riser Adkisson LLP is not admitted to practice. Nothing in this website is any substitute for the services of a licensed attorney in the relevant jurisdiction.  Persons resident in a state where Riser Adkisson LLP does not have an attorney regularly admitted to practice law should consult with their own local licensed attorney about that attorney retaining Riser Adkisson LLP to assist the local attorney with any client matters that such attorney believes our services and advice would be helpful.

The information given in this website does not constitute legal or accounting advice or opinion, and should not be relied upon for any planning purposes. It is provided solely and exclusively for general, non-specific educational purposes, and to advise the reader of the nature of the services offered individually by us. Planning of this nature is necessarily very circumstance-specific and therefore it would be dangerous to apply the very general rules described herein to any singular fact-pattern. Prudence demands that you consult with an experienced professional licensed in your state before attempting any of the planning techniques described herein. Additionally, the information given in this website is not meant to be a substitute for legal representation. You should consult with your local attorney regarding your suitability for the techniques stated herein under your local laws.

Except as may be specifically described in a fully-executed client engagement letter, Riser Adkisson is not your counsel and you will not rely upon Riser Adkisson LLP for any advice, counsel or suggestions as to the proposed or actual tax treatment of any transaction. Likewise, Riser Adkisson LLP does not make any guarantees or assurances in connection with any product, transaction or strategy discussed by Riser Adkisson LLP. Prudence demands that you retain independent professional tax counsel to objectively advise you on any tax consequences of any product, transaction or strategy discussed by Riser Adkisson LLP. Prudence also demands that you retain appropriately qualified and independent tax professionals to advise you of your tax compliance and reporting requirements.