Are you considering starting a business in Nevada? Whether it is to pursue your passion, turn your side-hustle into something more, or to protect your assets, the first step in establishing your new business is deciding on the structure you would like to use for your new company. An LLC (Limited Liability Corporation) is a favorable choice for small business owners, as it legally separates the personal assets of the business owner from business debts. In this article, we will explain how to start your own LLC in Nevada as well as important information to know before you begin the process. 

Benefits of forming an  LLC in Nevada

There are many benefits to starting an LLC in Nevada. As we said before, an LLC separates your personal assets from any business debts, which makes the business structure of an LLC comparatively low-risk and simple. The business structure of an LLC combines many positive facets of a corporation and a partnership, and grants the business owner liability protection without the income taxes that typical corporations would face. In Nevada, LLCs are not taxed on things such as stock transfers or corporate shares, as Nevada taxes only personal property transferred for value. 

An LLC in many cases is allowed an unlimited number of members, which means that there is no maximum limit on how many members or entities are permitted into the LLC. This grants flexibility to the business to broaden the members, investors, and potential business partners they may bring in.

Can anyone get an LLC in Nevada?

The short answer is yes. It doesn’t matter if you are a resident of Nevada or not, everyone is entitled to be able to open a Nevada LLC. In fact, Nevada is known for its entrepreneurship and business-friendly laws. Nevada also has tax laws that are very favorable for business owners, making it an especially great place to start your business. If you are interested in learning more about how starting an LLC in Nevada can benefit you, contact our team of seasoned attorneys today!

How much does it cost to start an LLC in Nevada?

To file for an LLC in Nevada, the initial costs are $425. This includes filing your Articles of Organization and acquiring your state business license. After the initial cost, you will have to pay $350 annually to keep your LLC going. Also note that these prices are not set, there are variable costs such as a Registered Agent, which will cost you $0 or $125, and items such as taxes and county/city licenses.

What are the Steps for Starting an LLC?

Knowing what an LLC is and what its benefits are essential to starting one, the business las experts and Raich Law have laid out the basic steps to be taken to start an LLC in Nevada:

1. Choosing a Name – The first thing that you should do when filing for an LLC is knowing the name you want the entity to have. The name must be unique to Nevada, meaning no other corporation in Nevada should have the same name. Additionally, it is required to have the abbreviation of LLC or LC (Limited Corporation) in the name. Click Here to Visit the Nevada Business Entity Search to see if your business name is available. 

2. Appointing a Registered Agent – Every Nevada LLC is required to have a Registered Agent, which is a person who receives legal/official documents for the company.

3. Filing the Articles of Organization – The Articles of Organization contains basic information on the entity such as its Registered Agent, the company name, and its overall management structure.

4. Apply for your EIN- (Employer Identification Number) – Your EIN will be issued to you by the IRS and will allow you file and pay your business’ taxes. Not all LLCs need an EIN such as those who do not have any employees, however it may still be in your best interest in certain cases.

5. Licenses and Permits – Based on the type of business you are operating, it is important that you acquire the legal documents needed for the nature of business you are conducting.

6. Compliance with policy – Nevada requires an annual list of involved members and fees to keep the LLC in operation.

7. Operating Agreement – In some cases, you may also need an Operating Agreement for your business. While not always necessary an Operating Agreement outlines the rules and agreements made between partners. 

Forming an LLC in Nevada

While this is a basic outline of the necessary steps to creating an LLC, there may be aspects of starting a business that vary from this course. To best handle your situation, it is always best to consult with an experienced attorney to ensure all documents are written correctly and all necessary considerations have been made. If you are starting an LLC, contact Raich Law today for a free consultation!

Other Legal Considerations

Throughout the course of business, situations may arise where you need the assistance of a professional. You may be in a situation where you need to have a contract drafted, or you may be facing a contract dispute. At Raich Law, we are committed to helping your business from its formation and onward. We have Legal Professionals that can assist you with any issue that may arise. We can help with:

• Contracts 

• Asset Purchase and Sale

• Negotiations

• Partnership Disputes

• Litigation

• General Counseling 

Non-Legal Steps to Consider

1. Purchase your Domain – If you plan to set up a website for your business, you will need a domain. You can purchase a domain from hosting websites such as GoDaddy.com as well as other reputable sites. Once you own your domain you can create your website and connect with your customers. 

2. Create your Social Media Presence – In 2024, social media is bigger than it ever has been. This is beneficial to business owners who can use social media as a tool to strengthen their brand image and build awareness quickly and efficiently. Using consistent styles and themes across social media channels will create a professional and unique personality which will resonate with visitors. 

Embarking on a new business journey is always exciting, but the path there may seem confusing. This is why it is important to have a vetted lawyer to help you, as one mistake in filing for an LLC can cost time and money. Our attorneys at Raich Law can handle the legal side, while you focus on growing your business. If you need a consultation or have questions for an attorney, call Raich Law today at 702.758.4240 or chat a live representative now on the site.