The Nevada Myth: Rethinking the Nevada Corporation

September 29th, 2022 by admin No comments »

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).

Best Music Festivals in the World

April 23rd, 2022 by admin No comments »

If you love music or if you’re a diehard fan of a certain band, DJ, or even a music genre, then nothing will excite you more than seeing them perform live at your favourite music festival. Now, exotic music festivals are hosted around the world and millions of visitors flock them every year to see some of the biggest names in the music industry.

There are loads of music festivals that host big name artists each year. Here’s our countdown of the best and the biggest music festivals today.

7. Mawazine (Rabat, Morocco, Africa)

Mawazine, also known as Rhythms of the World, is a world class music festival and the largest that is held in the continent of Africa. Last year the line-up included Chris Brown, Hardwell, Christina Aguilera, Pitbull and many more.

6. Fuji Rock (Yuzawa, Niigata Prefecture, Japan)

Fuji Rock is the biggest outdoor music event in Japan and one of the largest and most recognised music concerts in Asia. It all started way back in 1997 where it took place at the base of Mount Fuji, but has been held at the Naeba Ski Resort since 1999. Fuji Rock features mainly rock and electronic music and this year in July it will be hosting artists such as, Gorrillaz, Queens of the Stone Age, Aphex Twin, LCD Soundsystem, Bjork, Lorde and many more.

5. Splendour in the Grass (Byron Bay, Australia)

Splendour in the Grass is a world famous summer music festival that has been held every year since 2001. The festival boasts indie rock, hip hop, electronic and alternative genres. The tickets for this year sold out in a flash and it’s easy to see why as it features artists and bands such as The xx, Queens Of The Stone Age, LCD Soundsystem, SigurRos, HAIM etc.

4. Exit (Novi Sad, Serbia)

Exit is another internationally renowned music festival and one of the most recognised. It features electronic, rock, metal, hiphop/rap, reggae and punk music. Exit has been an annual event, organised every year since 2000 and takes place at the Petrovaradin Fortress. The main artists lined up for 2017 so far are The Killers, Liam Gallagher, Paul Kalkbrenner, Alan Walker, Years & Years, Hardwell, plus many more.

3. Rock in Rio (Alternates between Rio de Janeiro, Brazil; Lisbon, Portugal; Madrid, Spain; Las Vegas, Nevada)

The Rock in Rio music festival originated in Rio de Janeiro, Brazil in 1985 and spans across various global cities. There have been six Rock in Rio Festivals in Lisbon, Portugal most recently in 2014, three in Madrid most recently in 2012 and in Las Vegas in 2015 and 2017 called “Rock in Rio USA.” This year the festival in Brazil hosts confirmed headliners Guns N’ Roses, Red Hot Chili Peppers, Justin Timberlake, Lady Gaga, Aerosmith, Pet Shop Boys and many others.

2. Tomorrowland (Boom, Belgium)

In second place, Tomorrowland is one of the biggest music festivals in the world for Electronic Dance Music (EDM). Hundreds of electronic music DJ’s take on the stunningly crafted stages at Tomorrowland. The line-up for 2017 is still being finalised, but in 2016, Tomorrowland brought in names like Deadmau5, Eric Prydz, Alesso, Armin van Buuren, Dimitri Vegas & Like Mike, Martin Garrix, Tiësto etc.

1. Coachella (Indio, California, U.S.A)

Our number one pick is Coachella. It’s one of the biggest and arguably the best music festivals in America and probably, in the world. Coachella always sells out its 99,000 capacity per weekend, which are around 198,000 tickets in total. In 2016, Coachella gathered hundreds of artists ranging from Guns N’ Roses to Calvin Harris, who were the main headliners, and also featured acts like Ice Cube, Zedd, Sia, and many more. Because of its location in California, Coachella is also a top draw for many celebrities like other musicians and famous actors who come to enjoy the festival.

The Important of Reputation Management For Your Business

March 18th, 2022 by admin No comments »

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.