If you’re thinking about starting a business in Nevada, or already have and want to set it up as an LLC, you probably have a lot of questions about why an LLC is best for you.
Before we get into the costs for forming an LLC in Nevada, let’s address some of your other questions.
What are the Benefits of Forming an LLC in Nevada?
Nevada LLCs provide plenty of benefits for entrepreneurs in that state. For one, your personal assets are protected. If your business were ever sued, your personal assets could not be taken as long as you operate an LLC (or corporation). If you operate as a sole proprietor, your assets are vulnerable in this situation.
Another benefit for LLCs in Nevada is that you can take advantage of what’s called pass-through tax. Rather than filing a separate tax return for your business, you simply pass on the profit and loss to your personal income tax forms come April.
Business owners like the LLC business entity because the business structure can outlive them, and can be transferred to a new owner should they sell their business in Nevada. Also there are fewer formalities with the LLC than the corporation, which is a benefit for busy entrepreneurs.
What are the Costs to Form an LLC in Nevada?
Now the question you’ve been waiting for: what are the fees to form an LLC in Nevada? If you do the paperwork yourself, you’ll need to pay a fee of $75 when you submit your LLC paperwork with the Nevada Secretary of State. If you want your paperwork processed faster, you can pay a $125 expedite fee.
Additionally, to get started as an LLC in Nevada, you also need to file your Initial List with the state. This is due on or before the last day of the first month after filing your articles of organization (the LLC filing paperwork), and is a list of officers, directors, and your registered agent. The Initial List fee is $150. Each year, you will need to update your list by filing an Annual List and paying the $150 fee.
Tell Me How to Form an LLC in Nevada?
First, decide if you want to handle the paperwork yourself, or let a registered agent like CorpNet do the work for you. You’ll pay slightly more to have a business filing company help you, but it’s worth it if you’re short on time and want it done right the first time.
The next step is registering a company name. You want to choose a business name that no one else is already using in the state of Nevada. To find out if your name is available, use our free corporate name search.
You can get the appropriate Articles of Organization form from the Nevada Secretary of State’s website. This should be easy to fill out: you will need to include your business name, address, and contact information, as well as that list of officers, directors, and registered agent. Once you pay the filing fee, it may take several weeks for the state to process your application. Consider when you want your LLC to take effect. Many people choose to apply now but set the start date for the LLC as January 1st of the new year to simplify accounting.
Forming an LLC in Nevada is a great step to take to protect yourself as a small business owner.
Let CorpNet help you form an LLC in Nevada. We shake the headache out of the process, and get it done fast and correctly. Start here to form your LLC with our help.