If you're interested in starting an LLC in Nevada and need a step-by-step guide to setting up one in the state, you're in the right place.
LLC, or Limited Liability Company, is one of the most popular business organizations among entrepreneurs in Nevada because of its great deal of flexibility, less complexity in setting it up than other business structures, and the multiple tax benefits and the protection of personal assets it offers. Nevada law makes it even easier for entrepreneurs wishing to start one.
With a little research and the right steps, you ensure that you're on the right track from the start. Here's a guide on how to start an LLC in Nevada to help you get started the right way!
How to Start an LLC in Nevada
An LLC is a hybrid business organization that combines a corporation's limited liability with the flexibility a partnership or sole proprietorship offers. It is ideal for business owners seeking to limit their personal liability for lawsuits and business debts.
Once you’re sure that it is a viable business option for you, you need to take the following steps to start your Nevada LLC.
Choose a Name for Your Nevada LLC
For Nevada law, whatever name you choose, it should be unique and must have the phrases "Limited-Liability Company" or “Limited Partnership” or one of its abbreviations, such as Ltd., LLC, or LC, at the end. The word Company can be abbreviated as Co. Also, choose an easy name that your future customers remember.
The name of your LLC must be distinguishable from the names of other entities registered with the Nevada Secretary of State, and not include any words that could confuse your company’s name with government agencies.
Fortunately, you can find the availability of a name in the business name database of Nevada's Secretary of State website. The best is to choose a name for which a URL is available. You can, at this point, secure the URL for your business's website.
You may not want to file your LLC now, but you want to secure the name. In such a case, you can secure it for 90 days by filing a reservation application at $25 with Nevada's Secretary of State on their web portal, or via e-mail.
Assign a Registered Agent in Nevada
Once you're done deciding on your LLC's name and whether it's a member-managed or a manager-managed business, you need to appoint a registered agent in Nevada. A registered agent is an individual or a company who acts on behalf of your LLC and receives important legal documents, such as tax forms, legal and government documents, lawsuits documents, and other government correspondence.
A registered agent must be Nevada's resident, have a physical address (not PO boxes), and be authorized to do business in the state. This means that you can also be a registered agent for your LLC. The conditions are:
You must be 18 years old or above
You must have a physical address in Nevada
However, the best is to opt for a paid professional service that is authorized to do business in Nevada and must have a registered agent always available during business hours to receive your LLC documents. It saves you from spam, and too many phone calls and ensures a smooth process.
File Your Articles of Organization for Your LLC in Nevada
To start an LLC in Nevada, you must file the Articles of Organization for your LLC with the Secretary of State of Nevada. This legal document officially registers your LLC with Nevada's Secretary of State at a total cost of $425 (by mail or online). You need to file the following documents with the Secretary of State's Office:
The Articles of Organization at $75
The State Business License at $200
Initial List of Managers and State Business License Application $150 (File it before the last day of the first month after filing the Articles of Organization for your LLC)
For this, you must have the name and address of your Nevada LLC, your registered agent's name, address, and signature, the details of whether your LLC will be member-managed or manager-managed, and its dissolution, if any, among others. Also, you must be well aware of the State's rules and regulations.
You can file online via the Secretary of State website by selecting the Limited Liability Company option to continue. To file by mail, you can download the Domestic LLC Formation Form from the portal. After reading the document carefully, fill it out and mail it to the Secretary of State's address. You can also send it via fax and email.
It takes 14 days to file this document by mail and around 2 business days online.
Create Operating Agreement for Your Nevada LLC
The next step requires you to develop an operating Agreement for your LLC that legally describes your business's ownership and operating procedures. Although an Operating Agreement is not mandatory in Nevada, it would be ideal to have one, especially when your LLC has more than one member, to ensure all are on the same page and to avoid any misunderstandings later.
Get an EIN for Your LLC in Nevada
Once you've filed your LLC, you need to get an employee identification number (EIN) or Federal Tax Identification Number (FTIN) from the IRS. This nine-digit number is like a social security number unique to your business, necessary for:
Opening a bank account for your business
Tax and fiscal purposes
Again, you can get it by mail or online for free through the IRS website.
If you find the process of starting an LLC in Nevada overwhelming, you can hire a professional LLC creation service that is also a registered agent service and authorized to do business in Nevada. Professional services do the job for you from start to end and ensure a smooth setup of your LLC so you can focus on growing your business. You also have the option of hiring an attorney or an accountant who can get you through the LLC creation process.
Create a Website for Your LLC in Nevada
Your process of starting an LLC in Nevada is followed by the creation of a well-designed and professional website. Having an online presence has become necessary for businesses more than ever. Big or small, every business needs to have a website regardless of the nature of its business and the products or services it offers.
Consider a website as an investment with a high ROI, as it helps you improve your visibility, make you known to more people, and grow your sales.
Not having experience in website development must not stop you from creating one. You can always opt for professional services for a well-designed website for your LLC, such as Trady.com, a trusted website-building platform among contractors and traders.
Trady.com helps you create a website personalized to your LLC's unique needs, enhanced with service-based billing, invoicing, online bookings, client management, and much more. In just a few clicks, you can create a stunning website for your LLC easily and keep it running with transparent pricing. Besides having a beautiful website, you can also opt for end-to-end marketing services to promote your LLC.
Try Trady.com’s 14-day free trial to find out more!