Could starting a business help you achieve your dreams? Although many people think so, they’re unsure about what kind of business structure to create, let alone how to get it running correctly once they’ve made their decision. Here’s what you should know if you’re trying to find a Limited Liability Company, or LLC, in Nevada.
You Form an LLC by Filing Its Articles of Organization
Your Articles of Organization document specifies the company’s key characteristics. Along with a $75 fee, you’ll provide information such as
- Your LLC’s name and business address,
- The identity of your registered agent,
- Details about your leadership structure and the identities of your leaders, and
- The signatures of key stakeholders.
You’ll have to file this document with the Nevada Secretary of State. Fortunately, the agency accommodates digital filing.
Key Filing Components
Picking Your Registered Agent
What happens if you get sued? Although you might do your best to avoid legal scuffles, you’ll need to prepare for the worst. Registered agents accept any legal service that you receive, such as a lawsuit, and the Nevada Secretary of State publishes a list of approved registered agents.
Who can you choose as a registered agent? This person or business must reside in Nevada or have permission to do business there, so they need an in-state street address.
Optional Articles of Dissolution
Your Articles of Dissolution document specifies when the LLC will go out of business. If closing your doors at some predetermined future time isn’t part of your business plan, then you don’t have to file this.
Your Business Name
LLC businesses in Nevada can’t masquerade as something else. Their names must contain some variation of the phrase “Limited Liability Company” or an abbreviation of these words.
If you have a really good name, you can file a reservation request form to keep it locked down for a 90-day period. This extra service costs $25.
Finally, your name can’t step on someone else’s toes by infringing on their intellectual property. If you seek a business name that’s already been used or sounds too close to an existing name, then your LLC formation request might get denied. Save yourself some time by checking out whether the name you want is available in the state’s digital database.
It’s also a good idea to verify that the domain name you plan to use is available. You don’t want to choose a business name and find that someone owns the domain name with that same business name.
Do You Need an Operating Agreement?
You can file your Operating Agreements with the Articles of Organization documents or at some other time. Although you can technically create an LLC without this document, having it could be advantageous. For instance, it can draw a line in the sand for critical business processes, such as how money and asset ownership should work.
Wrapping It All Up
These are just some of the concepts that you’ll need to consider to get started off on the right foot for success. For instance, Nevada LLCs must adhere to federal and state tax codes. In other words, you’ll need an Employer Identification Number, or EIN, from the IRS regardless whether you’re hiring people or not, and you’ll have to register with Nevada’s
Most Nevada businesses also have to pay $200 annually for their state business licenses. If you’re a foreign LLC organized in another legal jurisdiction, then you’ll have to file another $75 form by mail.
Finally, remember that the state mandates that all LLCs report in annually. This so-called “annual list” report must contain your current
- Registered agent,
- Directors, and
Filing the annual list costs $150. You can expect to pay it yearly in whichever month you filed your Articles of Organization. For instance, if you filed sometime in January, then your first annual list would be due at the end of the same month, and the others would be due by the end of each following January.
Business clients can setup a virtual business address by leveraging multiple premium physical addresses offered by PhysicalAddress.com to attract international clientele, set up a Corporation or LLC, market their company and virtualize their postal mail.