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Nevada LLC For Beginners: No Attorney Required 

Nevada LLC For Beginners: No Attorney Required 

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Nevada LLC For Beginners: No Attorney Required 

There are so many things to think about when starting a business – from the initial planning stages to figuring out the day-to-day tasks of running your company. One of the early steps to take when starting a business is to set up the business structure, and a popular choice in Nevada is the Limited Liability Company (LLC). If you’re looking for some help in setting up a Nevada LLC, you’ve come to the right place.

With a little research, you can learn how to form a Nevada LLC without an attorney, and here, I’ll cover how to file the paperwork, answer some common questions, and more.

Why choose an LLC?

The Limited Liability Company (LLC) is a popular business structure (also called a business entity) for businesses starting in Nevada.  The LLC provides personal asset protection, no franchise tax, no corporate income tax, and has the potential to save money on taxes.

Unlike a sole proprietorship or partnership, where the small business owner can be held personally liable for lawsuits against the business, the LLC is a separate legal entity that protects the business owner’s personal assets. So, if the LLC is sued, the owner’s personal assets are usually protected.

Besides liability protection, the Limited Liability Company provides several other benefits over the sole proprietorship, partnership, and corporation because of the multiple tax options, ease of administration, and management flexibility.

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Steps To Form A Nevada LLC

Step 1: Choose an LLC Name

One of the first steps in forming a Nevada Limited Liability Company is to choose a name for your business. But before you can register your LLC with the state of Nevada, you need to make sure that the name you want to use is available.

This step is important because the name of each LLC must be distinguishable from other entity names registered in the state of Nevada. The Nevada Secretary of State makes it easy to do a Nevada LLC name search, so you can quickly verify if your LLC name is available. 

In addition to the name being unique, the entity designator (identifier used at the end of the business name) must be either:

  • Limited Liability Company
  • Limited-Liability Company
  • Limited Company
  • Limited Co
  • Limited Co.
  • Limited
  • LLC
  • L.L.C
  • L.L.C.
  • LC
  • L.C.
  • LTD
  • LTD.

A comma may be used after the business name and before the designator, and both “Silver State Solar LLC” and “Silver State Solar, LLC” are acceptable.

Should you name the LLC in a foreign language, the English translation is required to be submitted with the LLC paperwork.

If there is a name you want but are not ready to register the LLC, you can hold a name for up to 90 days by filing a Name Reservation Request.

Before deciding on a name, you may also want to see if a domain name is also available to have a matching website address.

Step 2: Appoint a Nevada Registered Agent

In Nevada, every LLC will need to designate a registered agent. A registered agent is simply an individual or company with a Nevada street address who will be responsible for any legal correspondence. This includes the receipt of legal documents, such as lawsuit notifications, on behalf of the business.

While many LLC owners opt to fulfill this role themselves, some owners choose to hire registered agent services like Northwest Registered Agent. Utilizing a registered agent service ensures that your LLC adheres to state requirements while offering an added layer of convenience and confidentiality since the owner’s personal address isn’t disclosed in public records.

Related: What is a Nevada registered agent?

Notes for entering the registered agent’s name

When entering the Nevada Registered Agent information in the Articles of Organization, the name of a commercial agent service will show up if they are registered with the Secretary of State. If the agent isn’t registered, or if the agent is an individual, click on “My Registered Agent not found” and manually enter their information.

Step 3: File the Nevada LLC Articles of Organization

The paperwork to officially create an LLC in Nevada is called the Articles of Organization. To submit the paperwork, you can either file online through the Nevada Secretary of State’s website, SilverFlume, or download and mail the Nevada Articles of Organization.

Related: How to fill out the Nevada Articles of Organization

There are a few sections that may be confusing when filling out the Articles of Organization, so I’ll explain a few of these sections.

Series LLC: If you want to form the LLC as a Series LLC, you can select that option here.  A Series LLC provides liability protection across multiple asset groups or businesses, each of which would be protected from liabilities from the other series. The Series LLC is not a common choice and is typically and most commonly found with real estate investment companies.

Restricted: A restricted LLC is one that can’t distribute any money to any LLC owner within the first 10 years of formation. (NRS 86. 161)

Latest date of dissolution: This section is optional if you intend the business to exist forever, which most businesses do.  If you have a specific end date in mind (typically used for investment-related businesses), choose a dissolution date.

Managers / Members: This section asks if the LLC is Member-Managed or Manager-Managed.

  • Member-Managed LLCs have an active involvement in the management of the business.
  • Manager-Managed LLCs are hired by the members to run the LLC, similar to a CEO of a corporation.

Most LLCs are member-managed, and there must be at least one manager or member. 

Organizer(s): An LLC Organizer is someone involved with the formation of the Articles of Organization.  The Organizer may or may not become an LLC member, such as a mentor, attorney, or accountant, but the initial members will all be listed as organizers.

At least one organizer must be listed.

Initial list of officers: Include the initial list of officers for the LLC.  At a minimum, all of the Managing Members or Managing Members from earlier must be listed in the LLC’s Initial List of Officers.

If you are worried about making a mistake when forming your LLC, or just don't want to deal with filling out state paperwork, an LLC formation service will help guide you through the process. My top recommended services include:

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What To Do After Starting A Nevada LLC

Once the LLC has been formed, there are a few additional steps to take care of. Below is a list of the most common tasks.

Prepare a Nevada LLC Operating Agreement

The operating agreement is a document that governs the framework of an LLC.  This document covers items like ownership rights, member responsibilities, how profits and losses are distributed, and more.

Nevada Revised Statutes, NRS 86.286, states that a Nevada LLC operating agreement is optional.  Despite the operating agreement not being required, it is recommended to have one as it can help to prevent disputes among members and protect the LLC’s legal status.

Related: Nevada operating agreement template

Obtain an EIN

If the LLC will hire employees or is owned by more than one member, an EIN is required. 

The EIN or Employer Identification Number (also referred to as a Federal Employer Identification Number, FEIN, or Federal Tax ID Number) is a unique 9-digit tax identification number assigned to a business by the Internal Revenue Service (IRS). Similar to a social security number for an individual, the EIN identifies business entities for tax purposes.

How much does it cost for an EIN number in Nevada?

There is no cost for the EIN when registering through the IRS. The number is available immediately when applying through the IRS website; however, you can also register by phone, fax, or mailing IRS Form SS-4.

Related: How to apply for an EIN

Open an LLC Bank Account

Opening a bank account for your LLC is important for liability protection as the account separates the business’s funds from the member’s personal funds.

Several documents will be needed to open a business bank account, such as:

  • A banking resolution is a document that authorizes the members to open a business bank account on behalf of the LLC.
  • Copies of the original formation paperwork from the state showing the creation of the LLC.
  • Driver’s licenses of the members.
  • In some circumstances, a Nevada Certificate of Good Standing may be needed to prove the LLC is active and in good standing with the state.

Related: How to open a business bank account for your LLC

Apply for Business Licenses and Permits

Depending on what your business does and where it is located, there will likely be various business licenses and permits needed before starting your business. Some common registrations include:

  • State business license application: Every business in the state must register their business with the Secretary of State.  Additionally, some cities also require businesses to obtain licensing before they can start.
  • Professional license: In Nevada, certain services such as barbershops, accountants, salons, and others must be licensed.
  • Nevada Business Identification Number: Any business selling physical products, some services, or hiring employees will need to apply for a Business Identification Number.
  • Employee withholding tax: Any business with employees will need to register with the Nevada Department of Taxation.  All businesses with employees must pay the Modified Business Tax (MBT) to the Department of Taxation. The MBT is a quarterly state payroll tax based on gross wages paid by the employer.

Related: What business licenses are needed in Nevada?

File Nevada LLC Annual Reports

LLCs are required to file an annual report with the Nevada Secretary of State.  The annual report updates ownership information and other details.

Related: How to file a Nevada LLC Annual Report

File the Beneficial Owner Information Report

Beginning in 2024, any individual who owns at least 25% or has “substantial control” of an LLC or corporation in Nevada or any other state must file the Beneficial Ownership Information (BOI) form with the Financial Crimes Enforcement Network (FinCEN). BOI reports are filed electronically through FinCEN’s website.

Nevada LLC FAQs

How much does it cost to start an LLC in Nevada?

The cost to form an LLC in Nevada is $425, which consists of the Articles of Organization filing fee, Initial List of Members / Officers, and State of Nevada LLC Business License.

How long does it take to set up an LLC in Nevada?

Nevada LLC online filings are processed immediately, while mailed-in forms typically take 1-2 weeks for the Secretary of State to process the Articles of Organization.

Do you have to renew your LLC every year in Nevada?

Each year, Nevada LLCs will need to submit a new Annual List of Members / Managers and renew the State LLC Business License, which will cost $350

Is Nevada the best state to form an LLC?

It’s generally best to form an LLC where you reside and will be doing the work, however, there may be reasons to form one in another state.

Related: What is the best state to form an LLC?

Do you have to live in Nevada to form an LLC there?

You don’t have to live in Nevada to form an LLC, however, you will need to appoint a registered agent who has a physical presence in the state.

Can you use a PO Box for your LLC in Nevada?

A PO Box can only be used as a mailing address for the LLC. A physical street address in Nevada must be used for the Registered Office and Registered Agent.

What is a Foreign Limited Liability Company?

A Nevada foreign LLC is an LLC that was formed in another state but wants to operate physically in Nevada. Physically operating means having a presence, such as having an office or hiring an employee.

Related: What is a foreign LLC?

What is a Professional Limited Liability Company?

Businesses that require occupational licensing in Nevada, such as accountants, architects, veterinarians, etc., can file for a Professional LLC (PLLC) instead of an LLC.

Related: What is a Professional Limited Liability Company?

What is a Nevada anonymous LLC?

An anonymous LLC isn’t a special type of LLC but refers to the state keeping the names of LLC owners private. Nevada is one of four states where the owner’s name and address are made public.

Related: What is an anonymous LLC?

Author

  • Greg Bouhl

    With over two decades as an entrepreneur, educator, and business advisor, Greg Bouhl has worked with over 2,000 entrepreneurs to help them start and grow their businesses. Fed up with clients finding and acting on inaccurate and outdated information online, Greg launched StartUp101.com to be a trusted resource for people starting a business.

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Nevada LLC For Beginners: No Attorney Required 

Nevada LLC For Beginners: No Attorney Required 

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