How to open LLC in Navada?
Why to choose an LLC to start a business?
The biggest advantage of creating an LLC is its flexibility. It can be used a disregarded entity, multi-member partnership, corporation or S a Corporation. You can add and remove owners any time without filing an election.It is a separate legal entity and gives protection to your personal assets.
Review few bullet points to understand for the LLC
- All Nevada LLCs are required to be filed with the Nevada Secretary of State, to legally conduct business.
- An LLC is an unincorporated association of one or more members who share in the profits and losses of the company’s business. It is a pass through entity and a member of the LLC reports, profit and loss on their income tax returns.
- It is managed in accordance with an operating agreement by one or more members (member-managed) or by one or more manager (manager-managed).
- An LLC (Limited Liability Company) is a separate legal entity and, generally, the members and managers are not liable for the obligations of the limited liability company.
- Owners, Officers and Directors information is in the public record.
How to register an LLC in Nevada?
Nevada Name availability of the proposed name
Name availability must be checked with the Nevada Secretary of State before filing the articles of Organization. You can also reserve the name if you are not ready to operate it now, but the name will be reserved for a limited period only and will not give you a right to advertise or operate a business under an LLC Name Reservation in the state of Nevada. You can add LLC, L.L.C or a Limited Liability Company along with your proposed LLC name.
Where to file Nevada LLC?
The Articles of Organization files with the Nevada Secretary of State along with the required filing fee.
What information to be included in the Nevada Articles of Organization?
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Registered agent name and address and the registered agent can either be a person or a legal entity.
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Company shall be managed by member(s) or mangers(s).
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Managed L.L.C: An LLC that is managed solely by its members(s) (i.e. its owner(s)). An LLC member is an owner of an LLC; in other words, an LLC member is the equivalent of a corporate shareholder.
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Manager-Managed LLC: An LLC that is managed by at least one manager. An LLC manager is a person appointed by the L.L.C member(s) to manage the day-to-day operations of the L.L.C; an LLC Manager is the equivalent of a corporate director. LLC members may be appointed as an/the LLC manager.
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Include all member(s) or manager(s) names and addresses.
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Organizer must sign the articles.
Nevada Initial Report Filing
The LLC must file the initial report soon after approving from the Nevada Secretary of State with the following information.
- List of all member(s) name and address.
- LLC may be revoked by the State, if you do not file it on time.
Get an E.I.N for Nevada New L.L.C
The employer identification number must be applied to the Internal Revenue Service to open a bank account or filing taxes.
Nevada S Corporation Filing Elections (Optional)
You can file an election with the Internal Revenue Service to treat your company as an S Corporation or a C Corporation for the tax purpose only. Because, an L.L.C does not let withdraw the salary to the owners, whereas this rule does not apply to an employee in the state of Nevada.
How to apply for Nevada Business Licenses?
You should acquire business licenses from Nevada Department of Taxation.
Does the same rules are applied for Non US Resident to form an L.L.C in Nevada?
For the security purpose, special rules are applied to form an L.L.C in Nevada for a non-US-resident that are described below:
- A Non US Resident can create an LLC without a social security number same as a US citizen.
- Form SS4 is either fax or mail in order to get an employer identification number.
- An I.T.I.N is issued by the Internal Revenue Service to file taxes.
- The owner of the Nevada L.L.C must be presented at the bank to open a bank account for the security purpose.
Nevada LLC Operating Agreement
The operating agreement is not applicable to file articles of organization, but we recommend you to create an operating agreement for your organization, because some banks or the other organizations may request you to provide them to check the operation structure of your organization.
Time to process your application for Nevada LLC
Nevada Secretary of State current application processing time is 24 hours.
