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How to start a Corporation in Nevada

An easy approach to form a Nevada Corporation
 
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Category : > Articles Directory To Open A Corporation in The USA
Posted On : Mon Oct 31st,2016

 
An easy approach to form a Nevada Corporation
 

How to register a business name in Nevada as a corporation?

What is a Nevada corporation?

Corporation is an artificial judicial person and separates legal entity from its owners in the eye of law. Owners called members and have limited liability. They hire directors to operate the corporation. Corporation has its own seal to enter into an agreement with the authorized natural person.

Why Nevada corporation? Some advantages

  • Nevada State has no Business Income Tax
  • Nevada State has no franchise Tax
  • Nevada State has favorable business laws

Steps to Start a Business in Nevada under a Corporation

  • Select and register a name of corporation
  • Appoint a registered agent
  • Decide the purpose of the corporation
  • Decide the stock structure
  • Appoint initial directors
  • File articles of incorporation
  • Prepare bylaws of the corporation
  • Filing an initial report
  • Obtain federal taxpayer identification number / EIN
  • Obtain necessary and relevant licenses and permit
  • Satisfy zoning requirements

What should be a Name of a corporation in Nevada?

You may choose any nu-prohibited, identical and unique name for the corporation. But it must include any of them at the end of the name “corporation”, “corp.”, “Incorporation”, “Inc”,” Company”, “Co”, “Limited” or “Ltd”. After choosing the name of the corporation, search the availability of name with the state secretary. On the availability of purposed name, you may reserve that name for 90 days.

For details, you may call (775) 684-5708, visit www.nvsos.gov, or write to the Secretary of State, 202 North Carson Street, Carson City, NV 89701-4201.

What is a registered agent for Nevada Corporation?

Registered agent means a person either natural or an entity, who take the responsibility to receive the legal document and notices from the state. In Domestic Corporation the corporation may itself act as a registered agent. The registered agent may be a

  • Commercial registered agent
  • Noncommercial registered agent
  • Any officer of the Nevada corporation

What should be the purpose of the corporation?

You may or may not choose any legal business activity as a purpose and if you select the second option which states “benefit corporation” then you must have to specify the purpose.

What should be the stock structure of a Nevada corporation?

You may choose any number of share stocks with or without par value or with combination of them.

What are the requirements for a director?

At least one director nomination with his complete address is mandatory in Nevada Corporation. You may elect more than one director. The each director must be a natural person having at least 18 year age.

Who is an incorporator?

There may be more than one incorporation for Nevada Corporation. All the incorporators have to disclose the name, address and put signatures on articles of incorporation.

Declaration from registered agent to act as an agent

To form a Nevada corporation it is mandatory for every registered agent to submit a declaration to act as a registered agent of the corporation. His sign or sign or representative in case of the entity must be done on an article of incorporation.

File Nevada articles of incorporation with the state secretary?

You may file articles of incorporation by mail, fax, and counter service or online by paying the prescribed filing fee.

Provide Nevada Corporation  initial list of officers

Each corporation organized under the laws of Nevada State shall, on or before the last day of the first month after the filing of its articles of incorporation, and annually thereafter, file its list of officers, directors, and registered agent. Forms will be mailed to you upon the organization of your corporation and annually thereafter to the corporation’s registered agent.

How to draft bylaws of the corporation?

Bylaws should be clear and precise. You may draft from a legal consultant or CPA. Simply by-laws include all about the internal process of the corporation you can draft by-laws by including all internal policies and procedures. Bylaws are an internal corporate document. Bylaws are not filed with the state.

How to obtain Employer identification number (EIN)?

You may apply with the registered agent for employer identification number (EIN) from IRS. IRS is the issuing authority of EIN. EIN is mandatory for corporations. You may also apply online through the official website of IRS.

How to obtain licenses and permit for a corporation?

The official page of the Nevada State provides specific information regarding permit, license and registration requirements through an extensive collection of links and contact information. The local government in your area, such as that of your city or county, may require specific permits and licenses. Each municipality may have its own unique regulations.

Sale tax for Nevada corporations

Sale tax is exempted to the extent of food items on retail sale

Other Texas for Nevada corporations

  • Nevada State has no franchise tax
  • Nevada State has no business income tax
  • Nevada state has margin tax on business entities
  • Commerce tax, this tax is imposed on businesses if gross revenue exceeding $4,000,000 in the taxable year. All businesses are required to file a Commerce Tax return, regardless of liability.

How to convert into Nevada S corporation?

If the corporation wants to elect S corporation status for tax purposes, it must submit Form 2553 to Internal Revenue Service (IRS). See IRS official website for more details.

How can a foreign corporation do business in Nevada?

The foreign corporation must have to register with the State secretary as a foreign corporation through registered agent to do business in Nevada.

  

MS Management Sciences, ACMA, APFA


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