How to Start an LLC in Nevada: Step-by-Step Guide
What are some tips for naming my business?
Check if the domain name is available. Making sure your name is distinct from other Nevada businesses is just the first step. Even if you don’t need a website right now, you should check to see if your business name is available as a domain name. You can always buy the domain name now and keep it when you’re ready to start your website.
Check social media usernames and credentials. Another essential step is to check if your potential business name is available as a username or username on social media platforms. If you can use your business name on Twitter or Instagram, you can advertise through posts and easily reach a larger customer base.
Make it memorable. The easier your business name is to remember, the more likely it is that future customers or potential business partners will contact you when they need a service or product that you offer. To make it catchy, you can include a pun or alliteration.
What are the Nevada LLC tax reporting requirements?
Not only is it important to understand how to start an LLC in Nevada, but you also need to know how taxes work for your LLC. As you may already know, Nevada has no income tax. However, this benefit only applies to Nevada residents (those with foreign LLCs will be not benefit from this advantage).
The forms required for filing will depend on the type of Nevada LLC you have:
- Single-person LLC. This LLC is considered a disregarded entity and is taxed as a individual businessusing Form 1040 (a personal tax return)
- Multi-Member LLC. This LLC will be taxed as a Partnershipwill file Form 1065 for the federal information return and will have to issue a Appendix K-1 to each of the members for declaring their share of the profits
Additionally, if your LLC earns more than $4 million per year, you will need to file a Commercial tax return.
How much does it cost to start an LLC in Nevada?
Unfortunately, there are no “cheap LLCs” in Nevada. The Silver State has the second most expensive LLC cost in the United States with a total initial charge of $425. This includes:
- $75 filing fee for Articles of Organization
- $200 state business license fee (due annually)
- $150 for the list of managers or managing members (due annually)
If you’re thinking about how to start an LLC in Nevada, you might want to think about where you’re going to take your business. Depending on where you operate your business, your respective county may have additional fees or requirements for doing business within its borders.
For example, let’s say you really want to start a casino as an LLC. The cost of Las Vegas is calculated as a semi-annual fee this is based on your LLC’s gross sales, which typically range from $55 to $700 (if your business earns $1,250,001 or more, your fee is revenue multiplied by 0.00056).
What should I do to keep my LLC active?
It’s not enough to understand how to start an LLC in Nevada, you also need to know how to keep your LLC active in Nevada. Each year you are required to file an annual list of managers or members and you must renew your business license. The annual cost of maintaining your Nevada LLC will be at least $350.