Step 1) Verify & Secure Your LLC Name
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.
Your LLC name should contain the words ‘Limited Liability Company’ or ‘Limited Company’. Abbreviations like ‘L.C.’ or ‘L.L.C.’ are also acceptable.
Filing Fee: $25
Remember, this isn’t optional in Nevada-- it’s mandatory.
Quick Note: Before you commit 100% to a name, you may also want to check that there’s a decent URL available for your business. Use Weebly to search your options. If there’s a quality domain name for purchase, we advise buying it right away. Even if launching a business website isn’t on your radar right now, it’s going to be soon, and you might as well nail down a domain name that’ll make it easy for customers to find you!
Step 2) Get A Registered Agent
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. They handle this along with so much more depending on your startup package.
Step 3) File Articles Of Organization
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
Step 4) Get An EIN
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.
Step 5) Open A Business Bank Account
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.
Step 6) Draft An Operating Agreement
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.
Step 7) Handle LLC Taxes & Licensing
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.
Need Help Forming an LLC?
If you'd like help forming an LLC in Nevada, feel free to read our reviews of the two most popular services available.