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Nevada LLC

Form a Nevada LLC

Let LawInc.com set up your Nevada LLC, the right way. We keep things simple and allow you to easily form your Nevada Limited Liability Company online or over the phone (800-989-5294).

Nevada LLC formation is simple with LawInc.com. Once you submit your application, we check name availability, prepare your articles of organization and file your paperwork with the Nevada Secretary of State. As soon as your Nevada LLC is formed, we forward you your final paperwork.

A Nevada LLC can help protect your personal assets, such as your home, car or family savings. In the event of a lawsuit or if your business should fail, your personal assets cannot be touched, assuming you have properly formed, capitalized and maintained your LLC. This limited liability feature of a Nevada LLCs is not available in a sole proprietorship or general partnership, where the business owners are personally liable for all business debts.

Let LawInc walk you through the Nevada Limited Liability Company formation process. Our clear, concise and easy to use website, helps keep things simple.

Nevada LLC Name

The first step in forming a Nevada (NV) Limited Liability Company (LLC) is selecting the business name. Nevada LLC names:

  • Must contain the words must contain the words “Limited-Liability Company,” “Limited Company,” or “Limited,” or the abbreviations “Ltd.,” “L.L.C.,” “L.C.,” “LLC”, or “LC.” The word “Company” may be abbreviated as “Co.”
  • Unless otherwise authorized, the name proposed for a limited-liability company must be distinguishable on the records of the Secretary of State from the names of all other entities formed, organized, registered or qualified that are on file in the Office of the Secretary of State and all names that are reserved in the Office of the Secretary of State. See NRS section 86.171 for further restrictions on types of businesses requiring state board certification.

An available Nevada LLC name may be reserved for 90 days.

LawInc.com permits you to choose up to three names and will conduct a name search for your Nevada LLC, prior to filing.

Nevada LLC Formation

Nevada LLC Filing Procedure: When forming a Nevada LLC, the Nevada Articles of Organization must be filed with the Nevada Secretary of State. The Nevada Articles of Organization must state:

  • The Nevada LLC name.
  • Name and address of each Nevada LLC organizer.
  • Street address of Nevada registered agent.
  • Street address of principle place of business.

Nevada LLC Organizers: An Nevada limited liability company can be formed by one (1) or more organizers.

Nevada LLC Members: Nevada LLCs require 1 or more members. There is no residence or age requirement. Nevada LLC members are not required to be listed in the Articles of Organization.

Nevada LLC Duration: The period of duration of a limited liability company shall be perpetual unless the Nevada Articles of Organization place a limitation on the company’s existence or until dissolution or termination.

Nevada Registered Agent: An Nevada LLC must maintain a registered agent and office to receive service of process in Nevada. The Nevada registered agent should be available, at an Nevada physical address, during normal business hours to accept important legal and tax documents on behalf of the Nevada LLC. The registered agent can either be (1) a domestic entity or a foreign entity that is registered to do business in Nevada or (2) an individual resident of the state. A Nevada LLC may not act as its own agent.

Nevada LLC Operating Agreement: After filing, it is highly advised that an operating agreement is drafted which dictates the LLC internal affairs and management. There is no set criteria, but an Nevada LLC operating agreement should reference how the Nevada LLC is managed, allocation of profits and losses and member capital contributions. The Nevada LLC operating agreement does not need to be filed.

Nevada LLC Post-Filing Requirements

Nevada LLC Initial List: Nevada LLCs are required to file an Initial List within 30 days of formation. Failure to file on time will result in a penalty. For more information, visit the NV Sec. of State Business Center: http://nvsos.gov

Nevada LLC Business License: Nevada LLCs are required to obtain a Nevada Business License within 30 days of formation and renew on an annual basis. Failure to file on time will result in a penalty. For more information, visit the NV Sec. of State Business Center: http://nvsos.gov

Nevada LLC Annual Report: Nevada LLCs are required to file annual reports. The Nevada LLC annual reports are due 1 year from the initial filing date, at the end of the month. So, if you filed your company March 10, 2015, you're annual report will be due April 30, 2016. Failure to file on time will result in a penalty. For more information, visit the NV Sec. of State Business Center: http://nvsos.gov

Nevada LLC Taxes

Nevada State Income Tax: The LLC tax rate for Nevada is variable, depending on Nevada taxable net income.

Federal Income Tax: An advantage of the LLC is its tax flexibility. LLC members are allowed to select how the entity will be taxed. An LLC may be classified for federal income tax purposes as either a:

  • Sole proprietorship
  • Partnership, or
  • Corporation.

Single member LLCs are treated the same as sole proprietorships. Profits are reported on Schedule C as part of your individual 1040 tax return. Self-employment taxes on Nevada LLC net income must be paid just as you would with any self-employment business.

Most Nevada multi-member LLCs elect to be treated as partnerships by the IRS and file IRS Form 1065. On this form, Nevada LLC profits are reported and allocated to each of the owners according to the Nevada LLC's operating agreement. Each owner is given a Schedule K-1, which shows each owner's share of LLC income or loss. The owner then reports and pays taxes on this income on the owner's annual 1040 income tax return. It is important to note that as with sole proprietorships, all Nevada LLC profits are taxed to the owners, even if they are not actually distributed by the LLC. This situation can arise when the LLC needs to use its profits to pay ongoing expenses.

If pass-through taxation is not desired, an LLC may elect to be taxed as a corporation by completing IRS Form 8832. If this election is made, the LLC is taxed as a C corporation by the federal government. Because the corporate income tax rates for the first $75,000 of corporate taxable income are lower than the individual income tax rates that apply to the taxable income of non-corporate taxpayers, it is possible a net income tax savings can result from this tax election. Additionally, an LLC can be taxed like an S corporation by filing IRS Form 2553.

Federal Tax Identification Number/Employer Identification Number (EIN): The Federal Tax Identification Number, also known as the Employer Identification Number (EIN) is a number that is assigned to a business by the Internal Revenue Service. An EIN is like a Social Security Number for a business. It is a requisite for certain business functions such as opening bank accounts or hiring employees. An EIN is typically required if the Nevada LLC has more than one owner or any employees.

Nevada LLC Dissolution/Cancellation

Nevada LLC Dissolution/Cancellation: In order to dissolve or cancel an Nevada LLC, the members or managers must file Articles of Dissolution with the Nevada Secretary of State.

Acts Triggering Nevada LLC Dissolution: A Nevada LLC can be dissolved upon the happening of one of the following:

  • At a time specified in the Articles of Organization or operating agreement;
  • Upon occurrence of events specified in the Articles of Organization or operating agreement;
  • Consent by the specific number or percentage of members indicated in the operating agreement;
  • At any time there are no members; or
  • Judicial decree to dissolve by a Court.
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