Nevada allows businesses – both in the state and from without – to register an LLC in the state. The process is usually simple and straightforward. By submitting the right documentation, adhering to state rules and paying the filing fee, a company can become a Nevada LLC in a relatively short period of time.

Getting Started

Naming the LLC

Naming an LLC in Nevada only requires adhering to a few rules and requirements. First, the name must have the words “Limited Liability Company” or an abbreviation with the same meaning, such as LLC. Second, the name cannot contain words that would cause confusion with existing federal or state agencies, such as FBI or EPA. The last requirement is that the name cannot be the same as another LLC operating in the state – a free search tool is available to verify the availability of business names.

Some business names may require additional paperwork and/or licenses to use, such as Bank, Banc or Banque.

It can be useful to consider website URLs when thinking about business names. Some domains are already taken, or are much more expensive than others. Sites like GoDaddy allow users to search for available domain names and to purchase domains.

Selecting a Registered/Statutory Agent

A registered agent is required to have an LLC in Nevada. The registered agent, which must be a resident of the state or a corporation authorized to do business in the state, needs to have a physical Nevada address. The registered agent is the individual or organization that will receive legal documents for the LLC – like in the event of a lawsuit.

Either one of the founders of the LLC or an employee can be the registered agent, or the LLC can employ the services of a registered agent.

File Articles of Organization for LLC

The Articles of Organization Limited-Liability Company must be filed with the Nevada Secretary of State. The cost is $75, or an additional $125 for expedited service.

The articles need to include all the necessary information about the LLC, including its address and name, the address and name of its registered agent and the way the LLC will be managed.

Create Operating Agreement

Nevada does not require LLCs to have an operating agreement. However, creating an operating agreement – whether written or verbal – is still recommended for all LLCs. Even a basic outline of how the organization will operate can provide clarity as the business moves forward, grows and encounters obstacles.

Running Your Business

Getting Your EIN

What’s an EIN?

An EIN is an employee identification number, issued by the Internal Revenue service. Sometimes it is also called a Federal Tax Identification Number. It’s a unique number issued to each business.

You’ll need an EIN to

  1. Open a business bank account.
  2. File Federal and State Taxes
  3. Hire employees.

Before you get your EIN:

  1. Make sure your new business has been properly formed before applying.
  2. Be wary of paid sites. EINs are free direct from the IRS.

How do I get an EIN?

  1. Apply online: The easiest way is to apply online for an EIN. Note, the IRS website has office hours, and is only available Monday through Friday, 7am to 10pm. Yes, we also agree this is one of the most ridiculous things we’ve ever seen.
  2. Call: You can call 1-800-829-4933, between 7am to 7pm of your time zone, Monday to Friday.
  3. Snail Mail – You can download the form and mail it in.

Keep Business and Personal Accounts Separate

  1. Get a business bank account for your business. This will help you protect your personal assets from potential creditors and lawsuits, and will also make life A LOT easier come tax time.
  2. Get a business credit or debit card. This will help you keep your expenses separate and easier to track.

Accounting

No matter what business you run, accounting software and processes is a must for any small business. If you have an accountant, ask them which software they work with and recommend.

A good accounting system is necessary to:

  1. Track income and expenses, so you can easily see if you’re making money
  2. Makes filing income taxes so much easier.

Always try and find something that will:

  1. Sync with all of your bank and credit card accounts automatically – not just downloads, but auto sync.
  2. Automatch vendors, customers and other accounts.
  3. Let you accept credit cards and ach drafts with ease.

Setting Up for Taxes in Nevada

 

Registering for State Tax

Businesses with employees in the state need to register for unemployment insurance tax. LLCs can also learn more about Nevada taxes for businesses, including the Nevada modified business tax, by visiting the Nevada Tax Center.

For businesses that sell taxable goods, paying the Nevada sales tax is required.

Annual gaming control taxes are required from any business operating games like slot machines in the state. There is also a live entertainment tax for businesses operating gaming establishments.

Licenses & Permits

While licenses and permits are not required for all businesses operating in Nevada, there are some types of businesses that must get proper certification and documentation to operate. Businesses must register for applicable federal, state and local permits – such as health permits.

Insurance

Businesses must register for workers’ compensation insurance.

Maintaining the LLC

Annual Report

All LLCs operating in Nevada are required to file an Annual Report with the Secretary of State, due on the last day of the month in which the LLC was formed. The Annual Report includes a fee for the report ($125) as well as a renewal of the business license ($200).

Certificate of Good Standing

An LLC can obtain a Certificate of Good Standing from Nevada’s business site, SilverFlume. The certificate verifies that the LLC was formed legally and that the LLC is currently in good standing with the state.

To order the certificate, the business must be registered with the SilverFlume site. On the home page, under Manage Your Business, there is an option for Order a Certificate of Good Standing.

How to File a Foreign LLC in Nevada

A business that is outside of the state of Nevada can still file an LLC. The form for filing a foreign LLC is more detailed than the domestic form, and costs slightly more to file ($120).