How To Get An LLC In Nevada: Everything You Need to Know
If you’re wondering how to get an LLC in Nevada, there are a few simple steps a business owner must take that comply with state law.3 min read
How to Get an LLC in Nevada
An LLC, or “limited liability company,” is a very popular form of business structure. It provides the business owner with the tax advantages and personal liability protection of a corporation, but also the flexibility of a sole proprietorship or partnership. An LLC can have an unlimited amount of owners, or “members,” and they can be other individuals, partnerships or corporations.
What Are Articles of Organization? The Initial Steps of Forming an LLC in Nevada
The first step of forming an LLC in Nevada is to choose a name for your business. The name must be different than an already existing business. If a business already has the name you want, you will be required to choose a different name. You can search the Secretary of State’s registered business database for all the names currently in existence. Once you have found a name that is available, you must attach an identifier to the end. For an LLC, this could be “LLC,” “Limited Company,” “Ltd.,” or any other term that identifies your business as a limited liability company.
Once you have registered your business name, you should quickly check to see if the domain name is available on the internet. Even if you are not planning on setting up a website right away, securing the domain name will prevent other competitors from buying it first. In addition, having an online presence can increase the company’s value and profits.
The next step in forming an LLC in Nevada is to choose a registered agent. A registered agent can receive legal documents on behalf of the LLC. The agent can be an individual, either an internal person or external, or other type of business structure, but must reside in the state of Nevada. Nevada provides a free downloadable form that business owners can use to officially designate a registered agent.
What Are Articles of Organization?
One of the main requirements of forming an LLC is to file Articles of Organization with the Secretary of State in Nevada. The state provides a fillable form available for free on their website. However, the LLC’s owner(s) can also create their own from scratch.
The minimum requirements that must be included in the Articles of Organization include some basic information about the LLC, such as:
- The LLC’s name and address
- The name(s) and address(es) of the LLC’s owner(s)
- The name and address of the registered agent
- How long the LLC is expected to operate
Nevada requires the LLC owner to pay a filing fee of $75. However, this fee can change periodically, so it is best to check before you file.
How to Prepare an Operating Agreement
Although not required in Nevada, it is good practice to create an Operating Agreement for your LLC. The Operating Agreement lays out all of the rules and procedures of the LLC. This can include the owners’ fiscal responsibilities and contributions, day to day duties, when and how often the LLC will hold meetings, procedures for adding new members, procedures for when a member leaves, etc.
If the LLC has more than one member, it is also a good idea to create an Operating Agreement between all the members. The State of Nevada will consider an LLC’s Operating Agreement as governing.
Obtain an Employer Identification Number
An Employer Identification Number, or “EIN,” is also called a Federal Tax Identification Number, and is used by the Internal Revenue Service to identify a business for federal tax purposes. It can be thought of as the LLC’s social security number. In addition to taxes, the EIN may also be required if the LLC wants to open up its own bank account.
To obtain an employer identification number, you can go to the IRS’s website and fill out the application. There is no filing fee associated with obtaining an EIN.
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