Starting An LLC In Nevada – Tips To Get You Started

Before you register Nevada LLC,  you should evaluate your company first to determine if it is the appropriate time to venture into that sector. An LLC is a generally flexible business structure and it provides limited liabilities to its members.  One of the reasons that make it flexible is that it can have an unlimited number of members who may be individual corporations, partnerships or even foreign entities.

If you want to register Nevada LLC, the following tips will guide you on what you need or what is required for your registration;

Name your business – you need to think of a name that speaks for your business. But you can choose any name and end it with ‘Limited Liability Company’ or ‘Ltd Liability Co’ or any other relevant abbreviations like LLC. Remember to check with the Secretary of State Business name database to ensure that the abbreviation you choose is indeed liable.

Assign an agent for service of process – this is a resident of Nevada or it can be a business that has filed an appropriate certificate. Either of the two depending on the one you choose will be the one to receive service of process for any lawsuit naming the LLC as a defendant.

File an initial list of managers and members – the list should be filed along with the business permit which will allow the LLC to operate in Nevada successfully. There are costs to be met in the processing of permits.

Get EIN – EIN is the employer’s identification number which you should get if there are two or more members in the LLC.

Agreement – make sure to have a limited liability company operating agreement with other members if your LLC has more than one member. The agreement is required to get your Nevada tax license.

Legal obligations – it is important to know and fulfill all the legal obligations concerning your LLC to be on the safe side. Your LLC should also maintain internal books and records that can be inspected by the Nevada secretary of state.

Filing an LLC and the Fee requirements

  1. There are forms and fees required when starting your LLC in Nevada and they include;

Articles of Organization Form, which contains

  • LLC’s name and address
  • names, addresses, and signatures of the managers, members and organizers
  • name, address, and signature of the resident agent
  • dissolution date
  • payment of the required fee
  1. Fees

The Articles of Organization form needs a fee of about $75 up to $150. You can pay using a check, credit card or trust account. Since the amount can change you need to inquire from the secretary of state and pay the correct amount.

  1. Taxes

Your LLC is classified under federal income tax payer. There are different tax responsibilities for different LLC and you need to discover which kind of tax you need to pay. LLCs created as limited liability partnerships, for example, are required to fill form 1065, US Return of Partnership Income and also show equal distribution of losses, profits, and credit with the IRS.

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