Nevada Company Registration: Everything You Need to Know
Nevada company registration requires filing the correct documents with the Secretary of State and paying necessary registration fees.3 min read
Nevada company registration requires filing the correct documents with the Secretary of State and paying necessary registration fees. Once your company is registered, you'll have access to a variety of benefits.
Incorporating a Business in Nevada
Nevada is one of the most business-friendly states in the country, which is why many people choose to form a limited liability company (LLC) in this state.
Some of the benefits of Nevada company registration include:
- No income tax at the corporate level or taxes on corporate shares.
- No franchise tax.
- No taxes on transfers of equity.
- No taxes on personal income.
Small business owners are attracted to Nevada because of the privacy laws and protections for assets in the state. Before you can incorporate your Nevada business, you will need to obtain a business license. Nevada is one of the few states in the country that has this business license requirement for incorporation.
Nevada based its law for corporations on the law in Delaware, another business-friendly state. This was done to reduce the time and money needed to form a corporation, as well as to limit the risks. The best reason to form a Nevada corporation is for the ability to protect the personal assets of company owners from the liabilities of the business. Because corporations are separate entities from their owners, only corporate assets can be pursued if the corporation is sued. Forming a corporation can also help you save a good deal of money on taxes.
Choosing a Nevada Business Name
The first step in Nevada company registration is making sure the name of your business is available for use in the state. You can search for registered business names using the online records maintained by the Secretary of State. After choosing an available name for your Nevada business, you can file a name reservation form and pay a $25 fee to reserve your name for a period of 90 days.
If the name you have chosen is the name of a person, you will need to include a designator such as incorporated or corporation. You do not need to use these designators if your corporation name does not include a person's name. Generally, the name of your company needs to be unique, meaning it is not confusingly similar to another Nevada business name. You can, however, use a name that's similar to another business as long as you get written consent from that business.
When choosing a business name, you should choose one that reflects the services or goods that your company provides. The name of your business should also be easily identified by your customers. Performing a name search will help you find out if the name you have chosen is already registered for the same type of business entity you are registering.
Defining LLC Members
An incorporator is the person who signs and files an LLC's Articles of Incorporation. The duties of an incorporator only exist until the Articles of Incorporation have been filed.
Requirements for eligible incorporators:
- The Articles of Incorporation must include the addresses and names of incorporators.
- At least one incorporator must be listed.
- Incorporators can only be real people.
If you are forming a corporation in Nevada, a variety of requirements must be met:
- The corporation needs at least one director.
- Directors of the corporation should be 18 or older.
- Directors can live anywhere they wish.
- The addresses and names of directors should be listed in the Articles of Incorporation.
LLCs must also fulfill multiple requirements:
- The LLC needs one or more managers or members.
- Members of the LLC should be over 18.
- There are no residential requirements for managers or members.
- The LLC Articles of Organization should name the members or managers.
File the Correct Paperwork
The type of entity you are registering will determine the paperwork that you need to file. If you are forming a corporation, for instance, you need to file Articles of Incorporation. Registering an LLC requires filing Articles of Organization<.
Once you file your Articles of Incorporation and pay the correct fee, your corporation will come into existence.
When completing your Articles of Incorporation, you should make sure to include the correct information:
- Your corporation's name.
- Contact information of your incorporators.
- Contact information of your directors.
- The name of your registered agent.
- The stock structure your corporation will use.
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