Do you plan to start a business in Nevada? An LLC is a great option for business structures that offer many benefits. This guide will help you to set up your LLC in Nevada.
Before starting an LLC in Nevada
While it may seem tempting to just file your documents right away, there are important details you need to remember. These are the essential steps to follow before you set up an LLC.
Register Your LLC Business Name
It’s a good idea not to submit your documents without verifying that your LLC business name is available. SilverFlume is Nevada’s business portal website. It offers a search for business entities to assist you in checking.
You should include the following: “Limited liability company”, “L.L.C.,” or a related abbreviation like “LLC,” L.L.C.,” or “LC,” in your business’s name.
Get a web domain and set up social media
You should create a website for your LLC if you don’t already have one. Once you have set up your Nevada LLC, it is important to spread the word about it.
A website domain is essential for customers and you can create a social media profile. This is a great way to establish trust and be a thought leader in your industry.
Choose a Registered Agent
All LLCs and corporations in Nevada require a registered agent. Your agent will receive and handle important legal documents for your LLC. By creating an office, LLC members can appoint someone. Just make sure that the person has a physical address in the state.
You can hire someone, or a company, to fill the role as registered agent if no one is associated with the LLC. You can find service options starting at $35 or up to $300. You should research the potential agent and compare their prices before you hire anyone.
Submitting Your Nevada LLC Documents
After everything is in order, companies can get a Nevada LLC formation packet from the Secretary of State website. Individuals should file an Article of Organization. At the time of writing this article, Chapter 86 was the most common form of LLC in Nevada. Nevada also offers a Chapter 89 Professional Limited Liability Company (PLLC). However, it is not mandatory. If your LLC does not qualify for online filing you can submit the completed documents to firstname.lastname@example.org, or mail them to 202 North Carson Street Carson City, Nevada 89701-4201.
For LLC formation, both domestic and foreign entities will be charged $75. If you want to speed up the process, you can pay a $125 expedite fee for 24 hours. A state business license is required for $200. An initial list of managers and managing members must be filed for $150. The full fee schedule can be found.
Things to Do after establishing your LLC in Nevada
Establishing your Nevada LLC is the first step. Maintaining your business in good standing and continuing to grow it is the second. Additional details will be covered in the following sections.
Register for an Employer Identification Number (EIN).
Most businesses require an EIN. Single-member LLCs are a notable exception. These companies can still get by with the owner’s Social Security number. EINs are a better alternative to SSNs as they offer greater privacy and security. EINs can be obtained free of charge on The IRS Website.
Send an annual list
Although LLCs in Nevada don’t have to pay state taxes, they must file an annual report. This is known as an “annuallist”. You can also do the filing online.
Annual list filing fees are $150 Late submissions incur an additional $75 fee. For an additional $200 per calendar year, you can renew your business license via this link.
Create an LLC Operating Agreement
While not a requirement, it is a good idea to create an operating agreement for your LLC. It provides a solid foundation for your LLC’s brand and a guideline for the day to how you plan to run it. An operating agreement gives legitimacy to your LLC and helps maintain its good standing.
Dissolving Your Nevada LLC
You may decide to dissolve your LLC here in Nevada and allow for domestication in another state. Send your Articles of Dissolution with a $100 fee.
Most Frequently Asked Questions
What is an LLC?
A limited liability company combines the flexibility and ease of a sole proprietorship or partnership structure with the greater risk protection offered by a corporate structure. LLC owners, also known as “members”, have limited liability. This means that their personal liability to the company is limited to what they have invested. It does not cover losses or debts beyond that amount.
Members of an LLC are subject to taxes by default. This is the same as for owners of a general partnership or sole proprietorship. This structure is commonly referred as a “pass through” tax structure. If the LLC meets certain criteria, it can choose to be taxed either as a C corporation (C-corp) or as an S corporation (S-corp). Small business owners prefer LLCs because of their simplicity and flexibility.
What is the cost of a Nevada LLC?
Filing for an LLC is $75. A $125 expedite fee is charged for each hour of filing an LLC. The setup fees include the annual list (150 USD) and the business license (200 USD).
Are foreign entities required to pay more for LLC formations in Nevada than domestic entities?
Foreign and domestic businesses are both subject to the same $75/$125 filing fee
What is the difference between an LLC or a DBA?
After completing the necessary paperwork, an LLC (or limited liability company) is allowed to operate in a specific state. DBAs are fictitious name under which a person, or business, can operate. Not to be overlooked is the fact that DBAs must be filed separately with the state.
What are the advantages of forming an LLC in Nevada
Nevada does not have an income or corporate tax. For businesses that gross more than $4,000,000 per year, however, the state has a commerce taxes.