LLC, Business License, Incorporation
Nevada remains one of our most popular states for incorporation and LLC formation. With only the 35th largest population in the United States, Nevada has a thriving business community. Some of the largest U.S. companies, including Harrah's Entertainment, MGM Mirage, and Las Vegas Sands, maintain their headquarters in Nevada. This state also services many small businesses, particularly in major industries like tourism, mining, and manufacturing.
Nevada is home to some of the world's largest businesses as well as a wide range of mid-size and small businesses. Regardless of your company's size, The Company Corporation can help you through the process of forming an LLC in Nevada.
Advantages and Benefits of Forming a Nevada LLC
Forming a Nevada LLC has many benefits for the average business owner. Nevada does not impose a franchise tax on LLCs. and there are no fees on company shares. Additional Nevada LLC advantages include the fact that the state does not require business owners, shareholders, or members to be Nevada residents. Nevada also allows LLCs to have noneconomic members who do not own a portion of the company, but who still have the same voting rights.
One more benefit of forming Nevada LLC is that the state does not impose a personal income tax or franchise tax on limited liability companies in the state.
General Nevada LLC Formation Information
Plans for forming an LLC in Nevada begin with choosing a business name. This name must be different from other business entities in existence. In Nevada, a person cannot use their natural name as the name of their company, unless that name is appended with either "Limited" or "LLC."
Once a name has been selected and registered, LLC members must be appointed. Nevada law requires that LLCs have at least one member or manager and that all members are 18 years of age or older. Member and managers do not have to live in the state of Nevada; however, member names must be listed in the LLC's Articles of Organization.
The Company Corporation can assist you in selecting a company name and performing the necessary research to ensure that name is not in use by another company. TCC can help with the writing and filing the new Nevada LLC's articles of Organization.
Additional Nevada LLC Filing & Fees
After your Nevada LLC has been formed, an additional filing is required on or before the last day of the first month after filing your business's articles of organization. A list of LLC managers and members is due 30 days after an LLC has been formed in Nevada.
The state also calls for LLCs to submit an annual report each year. The fee to file this report in Nevada is $125.
Compare Nevada vs. Delaware LLC
Recently, Nevada has become one of the most popular states where businesses choose to form an LLC. For years, business owners considered Delaware the top choice, but this is changing.. Nevada has been working on duplicating Delaware's business-friendly attitude to encourage business owners to choose Nevada over Delaware.
Delaware has a strong business court system capable of handling complex legal matters. For this reason, Delaware is an attractive option for larger business entities, fast-growing companies, or start-up companies with potential for fast growth. However, if your LLC has little likelihood of fostering any complex legal issues in the future, then a Nevada LLC may be a good choice.
Both Nevada and Delaware allow for "series LLCs," a unique designation that allows companies to further divide and protect a variety of assets without having to form additional entities. A series LLC allows for multiple members or business lines to be grouped under a common banner. Additionally, a series LLC structure can provide businesses with reduced costs on filing fees, protection of assets, and multiple business purposes collected under a common business name.
If you've decided that a Nevada LLC registration and designation best fits your business needs, call The Company Corporation to help you through the process of forming your new Nevada LLC. We can assist you with the required paperwork and filing in a timely manner.