Nevada State Corporation Filing
The State of Nevada is a very popular place to form a corporation for a number of reasons. One of the popular reasons noted by companies is the favorable State Tax policy in the State of Nevada. Companies and Shoppers have flocked to this State for many years to save thousands on what they have to pay in State Taxes.
Incorporate in Nevada
Incorporating in Nevada saves some business owners thousands of dollars each year in their state tax payments. The State has preferential treatment for businesses to encourage them to file within the state. Some of the key benefits of filing a corporation in Nevada are:
- No State Income Taxes - This means that more of what you earn is kept with you and not shared with the Government. This is an attractive benefit that is afforded with the Nevada Corporate Filing.
- No Fee on Corporate Shares -
- No Personal Income Taxes - So if you live in the State, or earn your income in the state you have this benefit as well.
- No Franchise Tax - The franchise is a popular tax structure to benefit an organization.
- Enhanced Protections for Officers/Directors
Incorporation Fees
- $75,000 or less $75.00
- over $75,000 and not over $200,000 $175.00
- over $200,000 and not over $500,000 $275.00
- over $500,000 and not over $1,000,000 $375.00
- OVER $1,000,000 For the first $1,000,000 $375.00
- For each additional $500,000 - or fraction thereof $275.00 Maximum fee $35,000.00
Expediting Fees
- $125 for 24 hour expedited filing
- $500 for 2 hour expedited filing
- $1,000 for 1 hour expedited filing
Click here to download a sample form for filing in New York.
There are risks with filing an expedited filing. You have the risk of losing your expedited fees if you have an unavailable name, or if you have errors in your filing. The fee to expedite is for a rush or the filing, and it typically isn't refundable. So, be careful with this filing.
Form an LLC in Nevada
The State of Nevada is like all other states in that they offer the popular entity filing type of the Limited Liability Company, or the LLC. The LLC in Nevada is popular for a main reason that it offers pass through taxation in most cases to the business owner and thus preventing the bad occurrence of double taxation. The issue of double taxation usually occurs when forming a C-Corporation, so with the LLC you will typically be OK, but do check with an attorney in your state and a CPA in your state.
The State of Nevada offers some great benefits for filing an LLC. You read about some of them above, but the State of Nevada is a tax Utopia, or said another way, it's great for some tax payers.
- There is no corporate income tax.
- There is no personal income tax.
- There is no estate or death tax.
- There is no franchise tax on income.
If it sounds great from a tax perspective, that may be because it is great for some businesses and organizations. If you are trying to find out if it is right for you talk to your CPA or Lawyer to ask some specific questions for your situation.
Fees for NV LLC
Articles of Organization $75.00
Business License Fee $200.00
Registration of Foreign Limited-Liability Company
Expedited Fees for Filing
- $125 for 24 hour expedited filing
- $500 for 2 hour expedited filing
- $1,000 for 1 hour expedited filing
Registered Agent Acceptance
In Nevada, when completing the LLC articles of Organization you will need to have your Registered Agent sign the acceptance form to agree to serve in this position. There isn't an extra fee for this initial acceptance, however if you want to change your RA, then there will be an extra fee to do this. The fees are $100 to cancel a registered agent, and $60 to change a registered agent. So, make sure that you don't have to change this too often.
Initial Members & Business License
The State of Nevada is unique when compared to some other states, in that the initial members must be listed. The managers must be detailed as a member or a managing member. The state is wanting to know who is running the business, compared to who is a silent partner.
Click here to see a form for filing a paper copy of the LLC Articles of Organization.
Nevada Protects it's Business Owners
Nevada is one state that doesn't mess around when it comes to protecting their business owners from lawsuits. One of the major risks in running a business is that of limiting liability. This means that your business, and the business assets will be subject in the even to a lawsuit, and typically not your personal assets. This is a powerful benefit of running a business in Nevada, in that the state providers strong asset protection. Unless you are engaging in fraud, or your don't run your business separate from your personal assets you should be OK. But for specific legal protections and issues that are specific, you'll want to seek the counsel of an attorney from the state.
Nevada Corporate Statutes
From time to time, and you wouldn't believe it, I find it necessary to delve into the corporate statutes to find an exact answer. Once you get into reading state laws and statutes, you will realize that they aren't really so intimidating. Don't worry, you can do it. Here is a link to the corporate statutes for the State of Nevada.
Nevada Secretary of State Links:- Nevada State Corporate Filing Info
- Nevada LLC Filing Information
State Capitol Building
101 North Carson Street, Suite 3
Carson City, NV 89701
