Limited liability companies are some of the easiest businesses to form. The paperwork and administrative requirements to create an LLC are much fewer compared to the requirements of other entities.
You don’t need a board of directors to start an LLC. Additionally, you’re not required to hold annual meetings like corporations. Once you form an LLC, all you need to do to maintain it is file your annual reports on time.
If you need help with your LLC renewal in the state of Nevada, you’re in the right place. This blog will discuss how you can renew your LLC status in Nevada and the different requirements you would need.
Do You Have to Renew Your LLC Every Year?
Nevada’s state laws require every business entity, from LLCs to corporations, to renew their status yearly. If not, they could be charged a $175 late fee by the Secretary of State or risk their entities being permanently revoked.
Fortunately, the process for LLC renewal in the state of Nevada is relatively easy. The state only requires businesses to submit an annual report and pay a $150 filing fee on the company’s anniversary.
Aside from the annual state filing, they must also renew their business license for $200.
What are Annual Reports?
Annual reports or lists records a company’s activities in a year. It typically includes all the information related to the business and its members.
Some of the standard content of a comprehensive annual report includes the following:
Office Address of the LLC
Names & Addresses of the Members & Managers
Social Security numbers of the key members of the LLC
The objective of the business of LLC
List of all the signatories of the LLC
Information of the registered agent, if any
Now, why is it important for companies to file annual reports? For one, it keeps Nevada’s Secretary of State updated on any significant changes in your company.
Any changes in your business address or appointment of a new member should be included in your annual list. Doing so ensures that the state government gets the correct correspondence address yearly.
Annual reports are also a must for filing your taxes. LLCs typically file their taxes through their annual reports. Ensuring you file your annual lists on time means you stay caught up on your taxes.
Lastly, the document helps you track all your company activities. Most companies use it as an activity log for transactions, new alliances, and appointments. As a result, the state government uses it to track payments and other information related to your business.
How to File Your Annual Reports in Nevada
Now that you know the importance of annual reports in LLC renewals in Nevada, let’s discuss how to file them.
Determine your deadline
The first thing you need to figure out when filing for your LLC renewal in the state of Nevada is your deadline. As we’ve mentioned earlier, your filing deadline falls on the anniversary of your business registration.
For example, if you incorporated your LLC on March 9, 2022, you must submit your annual report on the same day the following year. However, you can submit them as early as 90 days before your anniversary.
Download the form and submit it online or via mail
Once you’ve determined your filing deadline, you can start working on your annual report. You can download the form on the Secretary of State website’s business forms page.
You can file your annual report; online or via mail. Go to Nevada’s business portal, Silverflume, and submit the document there. However, if you want to mail your annual report, you must download the complete packet to get all the necessary instructions.
File your annual report and pay your fees
If you file your report online, you can pay your fees using a credit card. On the other hand, you can pay for your mail submissions using cash or checks.
You can also use your credit card to pay for your mail submissions, but you need to include an ePayment form in your packet.
How Registered Agents Can Help in LLC Renewals
Nevada requires all LLCs to have a registered agent. Registered agents are responsible for keeping track of your correspondence with the local state government and other legal documents, like your annual reports.
Keeping track of Nevada’s requirements for LLC renewals can be challenging, but since your registered agent acts as your representative, they’ll do all the hard work on your behalf.
Your registered agent will remind you of your filing deadline and help you streamline the submission process. If you don’t have enough time to print and fill out the form, you can ask your registered agent to do it for you.
They’re also in charge of receiving any important correspondence the state government sends you. Your registered agent will notify you if there are any other documents you need to submit for your LLC renewal.
Ultimately, registered agents can be a big help, especially during your LLC renewal in Nevada.
Find A Reliable Registered Agent Today
If you’re looking for a hard-working and reliable registered agent, look no further than NCH. NCH is one of the state’s leading providers of business formation services. Not only do we help our clients in building their companies from the ground up, but we also provide them with dependable registered agents.
With the help of our registered agents, you no longer have to worry about missing your annual report deadlines. They’ll accept all of your legal documents and assist you in processing them on time.
Learn more about what NCH can do for your business by visiting our website or calling us at 800-508-1729.
DISCLAIMER: The above material has been prepared for informational purposes only, containing opinions of the provider, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Please consider consulting tax, legal, and accounting advisors before engaging in any transaction.