Is the Name of my new LLC available?
The Nevada Secretary of State does not provide a name availability service. However, you can go to the Secretary of State’s website Business Entities Search page http://nvsos.gov/sosentitysearch/CorpSearch.aspx and type in the name you want for your new LLC. If it is not taken and it is not so similar to another business name as to cause confusion, you can probably have it.
If you want the Nevada Secretary of State to formally reserve an LLC Name for you, you can:
Requesting a name be reserved by submitting a completed Name Reservation Form, along with the filing fee of $25.00. You may expedite your name reservation by including an additional $25.00. Be sure to request “expedited service” in your cover letter.
You may also reserve a name on their website by going at http://nvsos.gov/index.aspx?page=7 and clicking on “Name Reservations.”
If you reserve an LLC name you will need to include the Name Reservation Job Number and the Document Number referenced on the document(s) you received from the Secretary of State’s office in response to your Name Reservation request.
Certain words, if used as part of the name or purpose require advance approval by one of the State’s regulatory agencies – Financial Institutions Division, Insurance Division, State Board of Professional Engineers and Land Surveyors, State Board of Accountancy or Real Estate Division. A Regulatory Word List may be viewed at (http://www.nvsos.gov/index.aspx?page=145).
If you submit a name in a foreign language, you need to provide an English Translation of the name.
How would you like to end your LLC’s name?
You must put an ending on the name of your Limited Liability Company like, LC, LLC, Limited, Limited Co, Limited Company, Limited Liability Co, Limited Liability Company, Limited-Liability Co, Limited-Liability Company, LTD.
Do I want a Regular, Series or Restricted LLC?
Most people will choose to forma a Regular LLC. If you think that a Series or Restricted might be a good choice for you, please check with your CPA or tax advisor first.
What is my LLC’s Dissolution Date?
When LLCs were first created, one of the biggest things that set them apart from corporations was that they did not have perpetual existence. However, Nevada has changed that. You may choose Perpetual or specify a number of years. The most common is 30 years.
Who is going to be your Registered Agent in Nevada?
All Nevada Business Entities are required to maintain a Registered Agent, with a valid street address in Nevada, for service of process. At Nevada Discount Registered Agent, Inc. we take our responsibility very seriously and go the extra mile to service our clients. Our Registered Agent fee is $69.95 a year. We will e-mail you a completed Acceptance Form (PDF) that you will upload when you file your articles online. Click here to get your Acceptance Form. If you have any questions, please give us a call at 775.782.6587.
Who is going to be your Member/Managing Member?
In an LLC, a Member is an owner like the Shareholder in a Corporation. A Manager is a person, usually an employee, who has the power to make decisions on behalf of the LLC. In most cases, this is going to by you. If it is not, have that person’s name and address available.
Who is going to form your new LLC?
Again, in most cases this is going to be you. However, another Business Entity can be the organizer. Decide who this will be and have their address available.
Which tax form do you want to use with the IRS?
This is a question you need to ask your CPA or tax advisor. Ask your CPA how you want to be classified with the IRS. You have the choice to be taxed as an individual (1040) if you have only 1 Member or Corporate Status (8832), or S Corporation Status (2553) if you have more than 1 Member.
Before filing, you need to create an account with the Nevada Secretary of State.
Go to https://www.nvsilverflume.gov//register and complete the simple questions. When you are finished, the SOS sends an email link to the email address you gave. You click on the link to activate the account. Then you can log in.
Ok, let’s check what we have done so far.
- You have answered all these questions and are ready to enter your information online.
- You have received the Acceptance Form (PDF) provided by your new Registered Agent.
- You have a Nevada Secretary of State Online Account set up.
You are now ready to file for your new Limited Liability Company.
- Go to https://www.nvsilverflume.gov/startBusiness
- Click on Limited Liability Company and Next.
- Enter your email and password and click “Sign In”
Start Entering Your Information.
- LLC Name
- LLC Ending
- If you want a regular LLC, do not check Series or Restricted
- English Translation of LLC Name
- The Latest Date upon which the company is dissolved or leave blank if it is to be Perpetual.
- Regulatory Approval – Skip this unless you have a special Nevada license
- Attach Form
- Select Nevada Discount Registered Agent as Your Registered Agent
- Search and find your Registered Agent and choose “Select”
- Check “I am Not the Registered Agent stated above”
- Browse to find the Registered Agent Acceptance file (PDF) on your computer and click “Attach Form”
- Choose how your company will be managed – By Managers or Members
- Enter that person’s name and address
- Click Add Management
- Add whoever is to be your Organizer is and his/her address
- Click “Add Organizer”
- Declaration of Terms and Conditions
- Click “Accept”
- Upload Supporting Documents (You probably will not have any. Do Not upload your Operating Agreement.)
- If you do have something, Click “Attach Form”
- Review all the information you entered. If it is all correct, click “Add to Cart”
- Next to proceed to checkout
- Charge to a Credit/Debit Card
Initial List of Managers or Members
Your Initial List of Managers or Members does not have to be filed with the Nevada Secretary of State until the last day of next month, if you filed your articles today. However, in order to open a bank account, the bank will require that you bring in your file stamped Initial List. So, let’s take care of that now.
The Nevada filing fee for the Initial List is $125.00. This is also the fee that you will pay to Nevada every year when you file your Annual List of Managers or Members.
Along with your Initial List the State of Nevada will require you to obtain the Nevada State Business License.
This costs $200.00 per year unless you are exempt. Nevada exempts the following businesses:
In addition, specific statutory provisions exempt certain businesses from the requirements of the State Business License. These businesses must still initially submit the form, WITHOUT FEE stating the specific exemption. The Statutory exemptions are as follows:
A nonprofit religious, charitable, fraternal or other organization that qualifies as a tax-exempt organization pursuant to 26 U.S.C. § 501(c).
A business who has an active motion picture project in the State of Nevada. As used in this paragraph, “motion pictures” has the meaning ascribed to it in NRS 231.020.
An insurance company licensed pursuant to NRS 680B.020 not conducting business not incidental to Title 57.
To file your Initial List of Managers or Members
- Go to the bottom of the page and click “Continue” to get to the Login Page.
- Enter your email and password and click “Login”
- Choose Initial / Annual List Filings
- Click Entity Search and enter your LLC’s name
- Select your LLC from the list
- Click File Initial List of Managers and Business License
You will be asked to enter your Manager’s and Members’ name(s) and address. These can all be the same person. In fact, it is better if they are the same person.
Complete the information requested.
Next, let’s get your Employer Identification Number from the IRS.
Choose LLC and proceed. The questions are straight forward and easy to answer. Just follow the instructions.
Next, you need to order your Corporate Book.
Every LLC needs a Corporate Book. It can be formal or informal. Even though you can use a binder from Wal Mart and make a book up yourself, I suggest you buy one from Blumberg Excelsior. It is much more professional.
Their website is http://www.blumberg.com/corporate/outfits.html and their phone number is 800.221.2972.
I like the Burgundy Beauty for $75.00 but check out their website and order the one that you like best. They come with a seal, certificates, transfer ledger, dividers, and minute paper. You can order their kits with printed minutes and Operating Agreements or you can download the ones on this site. Your choice.
And finally, it is time to open your LLC Bank Account.
You will need to show the bank your:
- Filed Articles of Organization.
- Filed Initial List
- Letter from the IRS confirming your new EIN number.
Your bank may ask for additional items. Give them a call and ask what other items you need to bring with you.
We hope this tutorial has been beneficial to you. We would appreciate any comments, suggestions, successes, corrections, or broken links that you have to offer.
We wish you the best in your new business venture.