Forming an LLC in Nevada
Forming an LLC in Nevada in 7 easy steps
- Select a company name that contains an LLC identifier, such as “Limited Liability Company” or “LLC”. You are not allowed to choose a name that violated trademark law or a name that is used by another LLC. In Nevada, a company name is not considered distinguishable from another name solely because one or the other contains distinctive lettering, a trademark, trade name, or a distinctive mark, or any combination of such characteristics.When forming an LLC in Nevada, keep in mind that plenty of words are prohibited or restricted. Prohibited words can never be used in the name of an LLC while restricted names can be used if your LLC obtains special licensing. Before you chose a name for your LLC it is best to contact the Nevada state filing office and obtain a list of restricted words and find out what you need to do to acquire the necessary license. Examples of prohibited words are “savings and loan association”, “loan and building association”,” building and loan association”,“ building and loan”,” building and savings”,“ loan and savings association”,” loan and building”,“ savings and loan”,” savings and building”, and “loan and savings”.
- You are not required by Nevada state law to hire an attorney when forming an LLC in Nevada, but many companies chose to pay and attorney to make sure that their Operating Agreement is correct. A poorly written Operating Agreement can lead to tax problems in the future.
- Step three when forming an LLC in Nevada is to visit the Nevada State filing office and file the Articles of Organization. When doing this, you must pay a state filing fee. In Nevada, the minimum LLC state filing fee is $75.00. (For 40 business days.)
- Step four is to have an Organizational Meeting where the members of the limited liability company formally adopt the Operating Agreement.
- Your LLC can now obtain its own Federal Employer Identification Number (FEIN).
- Have a bank account opened up for your LLC.
- Decide in which cities and counties you wish to do business and obtain the necessary local business licenses. Also check if the LLC needs any permits.
Maintaining an LLC in Nevada
Limited liability companies in Nevada are required to hand in annual reports on the month of initial filing each year. They must also pay $125 in annual report fee.
