To secure and register your brand name it must be unique, not too similar to another registered name, and shouldn’t contain any restricted wording. To check, conduct a Business Entity Search through the state, and if there are potential trademark issues conduct another quick search using the TESS System through the U.S. Patent Office.
Your LLC name should contain the words ‘Limited Liability Company’ or ‘Limited Company’. Abbreviations like ‘L.C.’ or ‘L.L.C.’ are also acceptable. If needed, you can file a Name Reservation Request form with the Secretary of State for through mail or online through SilverFlume, Nevada’s own business online portal.
Filing Fee: $25
A Nevada Registered Agent acts on behalf of your business to accept “service of process” and receive official correspondence from the Secretary of State’s office and other legal documents from various government agencies. To qualify for the position, the agent should be an individual resident of Nevada or a business entity registered with the Secretary of State. A physical street address in Nevada should also be provided.
You can hire an outside professional service and pay up to $160/year, or get a qualified agent free of charge when you register an LLC with services like IncFile or BizFilings. They handle this along with so much more depending on your startup package.
It’s an official declaration that lists your business name and address, hours of operation, ownership information, founding date, and other basics for the public record. That said, make sure you read the instructions carefully and only file with the state when you’re ready.
LLC Filing Fee: $75
Your EIN, or Employer Identification Number, is a unique 9-digit identifier like a personal social security number. But it’s not just for tax season, it also makes it possible to legally hire employees in Nevada and set up a business bank account in the next step, among other things.
Almost every transaction your business engages in will require an EIN. That said, you can get one quickly, easily and free of charge by applying online through the IRS Website.
Now it’s time to get your financial house in order. Set up a checking account under your brand with a good bank. Don’t be hasty though, there’s a large assortment of local, state, and national banks along with credit unions to choose from. Don’t assume where you bank personally is the best option and make absolutely sure that your business accounts are separate from any/all other accounts.
If you’re just starting out, familiarize yourself with the perks involved and what they mean year-over-year. Check out this breakdown article on the basics of Business Checking Accounts to get a jump on things.
To be perfectly honest while it’s not required by law, it’s foolish to be in business without at least drafting one. For starters it, “defines each member or manager’s rights, powers, and entitlements. This includes capital accounts, membership interest, distributions of profit and allocated tax responsibility, etc.” It also adds an extra layer of protection for everyone involved as well as your brand’s LLC status. Even solopreneurs should have one in our opinion.
To get started, consider using an online template which you can customize yourself.
As you might already know, Nevada is a startup-friendly state to businesses other than casinos. The tax benefits alone are amazing along with all the other upsides. That said, the complexity you’ll face during the regulatory process ultimately depends on a number of variables like the nature of your products/services, whether you work with the public, have employees, your physical location, etc.
To get started bookmark the Las Vegas district office of the Small Business Administration and the Sec. of State’s Business Services page because they’re likely going to be go-to sources. Also, consider professional Business License Research packages that can quickly source all needed documents for you.
After interviewing a small army of entrepreneurs we got a much clearer understanding of why business planning is so critical. Not for all business owners and their teams, but a good portion. Why? Because of the structure they provide and how much they reinforce things like follow-through, company culture, and how a brand responds to challenges.
No one’s saying it has to be a conventional 40 to 50-page collegiate tome. These days it’s more about streamlining your plans to define and leverage your brand’s core fundamentals like executive summary/pitch, financials & forecasts, marketing & demographics, ownership and so on.
QUICK LINKS TO BUSINESS PLANNING
If you don’t already have one in place, now’s typically the time where you and your team begin to figure out what kind of website is best. After all, websites or no longer optional. The marketing potential, social selling options, and ability to grow a brand in the digital world simply can’t be ignored.
Although building a website was difficult to do in the early 2000’s, nowadays you can use a simple tool like Wix or Weebly to build a functional-responsive website. Both are affordable and very easy to use.
Note that this article on how to form an LLC in Nevada isn’t a legal document or legal advice. It’s for informational purposes and the information above is subject to change. For specific legal questions regarding how to form an LLC in Nevada or business in general, please consult with a lawyer or other accredited professional.