Panama Papers shine light on Nev. incorporation laws
By Jason Hidalgo, Reno Gazette-Journal
It’s as easy as ordering a Big Mac.
Thanks to laws designed to attract business, creating a company in Nevada is a quick and simple exercise for anyone able to pay the required fees.
Add a layer of anonymity that hides ownership for limited liability companies, or LLCs, and you have the secret sauce that helped Nevada earn the nickname “Delaware of the West,” a nod to the mid-Atlantic state known for incorporating and creating businesses.
Despite the attention, Nevada has successfully shrugged off concerns about its system through the years. The massive release of leaked documents known as the “Panama Papers,” however, is casting a global spotlight on the Silver State.