A Nevada Limited Liability Company (LLC) is a unique form of business that blends the characteristics of corporations, partnerships, and sole proprietorships into a simple and flexible business entity. If you’ve decided a Nevada LLC is the best option for your business, then the first step is to file and pay the fees for necessary paperwork.
Nevada requires LLCs to file an Initial List of Members/Managers and Business Licenses on or before the last day of the month following the incorporation. The filing fee is $125 for the Initial List and $200 for the business license registration. After forming an LLC, you must follow certain steps every year to keep your business in compliance. These steps are also important for preserving the limited liability that an LLC provides its owner(s).
Ongoing Nevada LLC Taxes and Fees
Nevada requires LLCs to file an Annual List of Members/Managers, along with a Business License. These are due the last day of the month, marking the LLC’s incorporation anniversary. The filing fee is $150 for the Annual List and $200 for the Business License registration. In addition, other business licenses and/or permits may be required. Make sure to check if your business requires additional fillings.
Nevada incorporation carries many benefits, among which are tax advantages. Nevada doesn’t tax corporate profits or LLC profits. Nevada also doesn’t tax corporate shares or LLC ownership. Some states (not many) tax individual shares in a company. Nevada has no franchise tax or personal income tax, nor does it have an Information Sharing Agreement with the IRS. (There’s no information to share, because there is no income tax department). For complete details on state taxes for your Nevada LLC, visit the State of Nevada, or to discuss starting your Nevada LLC, contact our Nevada business formation experts by calling 1-800-508-1729.