How Do I Form A Nevada LLC?

How Do I Form a Nevada LLC?

 

 

 

Unlike some things in Nevada, business is not a game of chance. It’s a strategic endeavor. Forming a limited liability company, or LLC, is one of the best strategies for increasing your odds of a win and affords maximum protection. With an LLC, you will gain valuable protections, most importantly – limited liability. At the same time, you can keep the simplified bookkeeping and tax reporting that makes a partnership so appealing. We have everything you need to get your LLC started right away.

What Does It Costs to Form a Nevada LLC?

Nevada offers both standard and expedited processing of your LLC paperwork. Nevada also has several rush filing options. We can assist you no matter your time constraints (we have the capability file directly online and shorten the timeframe without additional cost to you, if necessary). Nevada charges an extra fee for expedited and rush filings; through the normal course of business (we can assist you in avoiding these significant charges).

What are the Requirements for Your Nevada LLC?

Each state sets its own rules for LLC membership and what information you need to include in your LLC formation paperwork. Nevada calls this document the Articles of Organization and the basic requirements are listed below:

  • Personnel Requirements: Your LLC must have at least one member. The state does not have any residency requirements.
  • Articles of Organization: You must include all member and manager names and addresses in this document, although not all LLC’s have managers. You also need a registered agent who is available during regular business hours to accept legal, tax and government documents for the business (process of service). Your Articles of Organization must include your registered agent’s name and physical Nevada address, not a post office box, and your agent can be either a person or a business. We offer that service for residents and non-residents forming a Nevada Business Entity.

What Other Paperwork is Required for Your Nevada LLC?

LLCs must file additional paperwork in Nevada by the last day of the month after their incorporation. These documents include an initial list of members or managers, and your LLC’s business license. Nevada charges filing fees for each of these documents.

How Do You Choose a Name for Your Nevada LLC?

Every LLC must have a name that distinguishes it from other businesses operating in the state or elsewhere. For example, if ‘Simply the Best Barbeque & Catering’ exists, you can’t use ‘Best Barbecue & Catering’ or ‘Best BBQ & Catering.’ The minor spelling differences do not make unique names. If your name is the same or similar to a name reserved for another LLC, Nevada allows you to use it if you receive written consent from the other person or entity, then file the document along with your Articles of Organization. When choosing a name, you should also keep a few other points in mind. Your LLC name must end with ‘Limited Liability Company,’ ‘Limited Company,’ ‘Limited,’ or an abbreviation of those terms, such as ‘Ltd.,’ or ‘LLC.’ You cannot use the words ‘incorporated,’ ‘corporation,’ or similar words in your name. These imply incorporation and are confusing. If you want to use words like ‘bank,’ ‘realtor,’ ‘brokerage,’ or anything similar, you’ll need approval from Nevada’s appropriate state department. You can contact the Nevada Secretary of State’s office to find out if your preferred name is available, or have us do that for you (on your behalf).

What Nevada LLC Taxes & Reports Are Required?

Nevada is becoming one of the go-to states to start a small business. Its taxes are low, its laws are very pro-business, and Nevada doesn’t have the same sort of formal information sharing agreement with the IRS that nearly every other state has. It is the next best thing to an ‘off-shore’ corporate identity; some say better.

Operating a business in Nevada means remaining compliant. That means a certain amount of required paperwork.

The first thing you need to do is file an initial report within 60 days of incorporating. You’ll note who your officers are and other basic but important details and provide that information to the state. At the same time, you should pay Nevada’s annual business license fee, which is essentially a fee to do business within state lines. The initial report costs $125 to file and the annual business license fee is $200 (these fees are included in our LLC bundle/package). There are no hidden costs.

You will accomplish the same task every year from your LLC formation date forward. An annual report is due by the anniversary of your incorporation (LLC formation anniversary date) and your business license fee responsibilities are also an annual requirement. The annual cost is the same as they were at initial filing, $125 and $200 respectively.

How Do You Get an LLC Operating Agreement for Nevada?

Nevada does not require an operating agreement, but it is a good idea to have one. The advantages of having an operating agreement include protecting your LLC’s limited liability status, in addition to customizing its business rules. Without one, your LLC will operate under generic state rules that may or may not suit the business.

We wish you the best of luck with your new business venture. We would also like to assist you getting started right, from the outset. If you’re ready to form you Nevada LLC, simply select our NV LLC formation and filing fees bundle (add it to your shopping cart [click on the ‘add to cart’ button]; or call Rick D. Lucas directly at (775) 443-6507 (c).

 

LEGAL DISCLAIMER: Lucas Lucas, LLC is not a law firm; nor is it a substitute for an attorney or a law firm. The law is complex and changes often. The subject matter contained herein provides general information and it is presented strictly for educational and informational purposes only. It is not intended to take the place of sound legal advice. For legal advice, please seek competent legal counsel (ask or engage a lawyer/attorney). Nothing contained herein should be deemed or construed to be legal advice, or take the place of sound legal and financial counsel. After considering the products offered and/or the subject matter contained herein, it is always best to seek sage legal and financial advice prior to undertaking any asset protection strategy.

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