... / LLC Business Registration... / Step-by-Step Guide for Startup Founders

Starting a Limited Liability Company (LLC) in Nevada is a common choice for entrepreneurs looking for strong legal protection and favorable tax benefits. This guide walks you through the entire process, from selecting a business name to maintaining compliance after registration.

[Before setting up any corporation you should seek tax advice from a CPA as well as legal help from an attorney licensed to practice in the state you plan to register in. This course is designed to educate you on the process and terminology to help you discuss with them]

Requirements:

• The name must include "Limited-Liability Company," "Limited Liability Company," "LLC," or "L.L.C."
• It must be unique and not conflict with existing Nevada businesses.
• It cannot include restricted words (e.g., "Bank," "Attorney," "University") without additional approval.

A Registered Agent is required for receiving legal documents on behalf of your LLC. This can be:

• An individual resident of Nevada
• A business entity authorized to operate in Nevada
• You cannot be your own registered agent unless you reside in Nevada.

This is the official document that legally forms your LLC.

Filing Details:

• Submit to: Nevada Secretary of State
• Fee: $75 (base fee) + optional expedited processing
• Method: Online, by mail, or in person
• Required Information:
  • LLC Name
  • Registered Agent’s Name & Address
  • Names and Addresses of LLC Members or Managers

An EIN is like a Social Security number for your business, required for tax purposes and opening a business bank account.

• Issued by: IRS (Internal Revenue Service)
• Fee: Free
• Apply Online: www.irs.gov

Nevada requires an Initial List of Managers or Members along with a State Business License.

• Fee: $150 (Initial List) + $200 (State Business License)
• Deadline: Within 30 days of LLC formation
• Submit Online: www.nvsos.gov

An Operating Agreement is not legally required in Nevada, but it is crucial for defining ownership and management structure.

Key Elements:

• Ownership percentages
• Member responsibilities
• Voting rights
• Profit distribution
• Dissolution procedures

Depending on your business activities, you may need to register for:

• Nevada Sales Tax Permit (if selling goods)
• Modified Business Tax (if hiring employees)
• Commerce Tax (if annual revenue exceeds $4 million)

How to Register:

• Sales Tax: Nevada Department of Taxation (tax.nv.gov)
• Payroll Taxes: If hiring employees, register with the Nevada Employment Security Division.

To separate personal and business finances, open an LLC bank account.

Required Documents:

• EIN from the IRS
• Articles of Organization
• Operating Agreement
• Initial List of Managers or Members

Ongoing Requirements:

1. Annual List of Managers or Members ($150 fee)
2. State Business License Renewal ($200 fee)
3. Registered Agent Maintenance
4. Taxes & Reports (if applicable)

Starting an LLC in Nevada is a straightforward process with strong asset protection and no state income tax. By following this guide, you ensure your startup is legally compliant and ready for success.

Need Help?

Consult a business attorney or tax professional to ensure your LLC meets all legal and financial requirements.