Nevada is a business-friendly state offering tax incentives, financing opportunities, and a streamlined formation process. By forming a limited liability company (LLC) in the state, you gain this as well as personal liability protection. Ready to register an LLC in Nevada? Simply follow these steps to start your business.
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Nevada LLC Quick Facts
- To register an LLC in Nevada, you must file Articles of Organization.
- The filing fee to start an LLC in Nevada is $75 if filed online or $85 if submitted by mail.
- To keep your Nevada LLC in good standing, you will need to file an Annual List each year and pay the associated fee.
6 Steps to Form an LLC in Nevada
Starting an LLC in Nevada only requires six straightforward steps.
To register an LLC in Nevada, follow these steps:
- Name Your Nevada LLC
- Appoint a Registered Agent
- File Articles of Organization
- Create an Operating Agreement
- Obtain an EIN and Handle Taxes
- File a Beneficial Ownership Information Report
Step 1: Name Your Nevada LLC
To begin registering your LLC in Nevada, the first step is to choose a name for your business.
Nevada’s requirements for LLC names include:
- The name must include the words “Limited Liability Company” or its abbreviations “LLC” or “Ltd. Co.”
- The name must be unique and distinguishable from any other business entity in the state.
- Terms that imply government affiliation or falsely represent the business’s purpose are not allowed.
There are several restricted words to be aware of when naming an LLC in Nevada. For a comprehensive list of naming requirements, you can refer to Nevada’s restricted word list.
Additionally, you can conduct a business name search on the Nevada SilverFlume website to ensure your business name is unique and available.
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Step 2: Appoint a Registered Agent
To register an LLC in Nevada, it is required that you designate a registered agent. A registered agent in Nevada is a person or entity that is appointed to receive official documents and important information on behalf of the LLC.
The registered agent in Nevada must:
- Have a physical address within the state
- Be available during regular business hours
- Not be the LLC itself
Who Can Serve as a Registered Agent in Nevada?
In Nevada, anyone who is 18 years of age or older and has a physical address in the state can serve as a registered agent for an LLC. The registered agent can be the LLC owner, an employee of the company, a friend, a family member, or a professional registered agent service.
Step 3: File Articles of Organization
To register an LLC in Nevada, you will need to file Articles of Organization with the Nevada Secretary of State. Along with these formation documents you must include an Initial List of Managers or Members, State Business License Application, and a Certificate of Acceptance of Appointment by the Registered Agent.
This can be done online, by mail, email, fax, or in person using this form.
The filing fees are as follows:
- Articles of Organization – $75
- Registered Agent Acceptance – $60
- Initial List of Manager or Members – $150
- Business License Fee – $200
To complete the filing, make sure to have the following details prepared:
- The LLC name and profession
- Type of LLC (series, restricted, or neither)
- The names and addresses of all LLC members
- The name, authorized signature, and address of the registered agent
Quick Note: If your business is already formed in another state, you will need to register as a Nevada foreign LLC. This can be done online or by submitting the necessary form by mail, fax, email, or in person.
Step 4: Create an Operating Agreement
In Nevada, it is important to create an operating agreement for your LLC. However, it is not required.
This document outlines the internal procedures and ownership details of the company. While it is not required to file with the state, having an up-to-date operating agreement can help prevent future conflicts and maintain alignment among LLC members.
Step 5: Obtain an EIN and Handle Taxes
After completing the necessary paperwork and obtaining your business license, the next step in registering an LLC in Nevada is to obtain an Employer Identification Number (EIN) and handle tax obligations.
An EIN is a unique number assigned by the IRS to track your business for tax reporting purposes. This number is essential for tax purposes, hiring employees, and opening a business bank account.
You can obtain your EIN for free on the IRS website.
Along with obtaining your EIN, it is important to identify any additional tax obligations for your LLC. Visit the Nevada Department of Taxation website to understand and comply with all tax requirements.
Step 6: File a Beneficial Ownership Information Report
All LLCs are required to file a Beneficial Ownership Information (BOI) report as of January 2024.
You can complete this filing for free on the US Financial Crimes Enforcement Network (FinCEN) website.
New LLCs are required to complete this filing within 90 days of formation. While existing LLCs have until January 1st, 2025 to complete the requirement. Failure to do so can result in a $500 per day fine.
Next Steps
- Open a business bank account to separate and protect your personal assets. Lili is a great option for new businesses looking to establish a business bank account in minutes.
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- Secure any additional licenses and permits that may be required federally or by the state. You can learn more about these requirements on the Secretary of State website.
- File an Annual List with the Secretary of State each year to maintain your business’s good standing. You can do so online or by mail along with a $250 in fees.
- Every business needs to secure insurance. There are several types, however, most start with general liability, workers’ compensation, and personal liability insurance. Next Insurance makes it easy to obtain affordable coverage.
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Additional Tips for Success
- Build a strong network: Finding other entrepreneurs, mentors, advisors, and leaders in your industry can open new opportunities and provide support throughout your business’s lifecycle.
- Keep track of your compliance requirements: Nevada has specific reporting and fee requirements such as their Annual List that must be followed to ensure your LLC remains in good standing.
- Plan for the future: Map out the goals and ambitions of your company to ensure you’re hitting important milestones.
Conclusion
When registering an LLC in Nevada, it is important to follow the specific steps outlined by the state to ensure a smooth process. By diligently completing each requirement, you can set your business up for success in no time.