Nevada LLC, Corporation, and DBA Startup Guide

Nevada Business Facts and Environment

NV Business Facts

Nevada has no state corporate income tax, nor does it impose any fees on corporate shares. It also doesn’t require personal income tax or franchise income tax for corporations or LLCs. Nevada is known as “The Silver State,” after its state metal. The nickname dates back to the silver rush in the region during the 1800s when silver was so plentiful, prospectors simply shoveled it off the ground.

Nevada has more mountain ranges than any other state in the US, at over 300. It also has more hot springs than any other state. Nevada is the seventh-largest state, and nearly 85% of its land is owned by the federal government.

The Silver State is also known for Hoover Dam – the largest public works project ever undertaken on American soil, and one with greater structural volume than even the largest of the Great Pyramids.

Nevada’s largest industry is tourism and gaming, owing largely to the hotels and casinos in Las Vegas. Logistics is a close second, with manufacturing, mining, and aerospace also occupying chief positions.

Major Companies in Nevada

It’s no surprise that many of Nevada’s top businesses are in the tourism and gaming industry. Some of the larger corporations include MGM Resorts International, Caesars Entertainment, Las Vegas Sands, Johnson Electric
Wynn Resorts, AMERCO, Boyd Gaming, and International Game Technology.

Nevada Startup Environment

Although Nevada is primarily known for gambling, the low cost of business, large incentives, extensive transportation network, and ample clean energy resources make Nevada an excellent place to headquarter any business. However, the state has seen particularly explosive growth in the energy sector, and may, according to Fortune, soon be to energy tech what Silicon Valley is to Internet and software startups.

Nevada LLCs, Corporations, and DBAs

Step 1: Decide on a Business Structure

There are 3 basic options: a DBA, a Corporation, or an LLC. Click here to learn more about business entities.

• A DBA or “Doing Business As” (also known as a “Fictitious Business Name” or FBN) is not really a separate structure, but just a different name that an individual or partners use as their business name.
• A Corporation is a separate entity (provides liability protection to the owners) that has a structure that includes shareholders, directors and officers. More complex than a DBA but the entity of choice for large companies and startups that intend to raise funding. Some professions are required to choose what is known as a “Professional Corporation” or PC (doctors, lawyers, architects, etc.).
• An LLC or “Limited Liability Company” is a newer type of business that is both a separate entity but provides very easy management (doesn’t require directors or officers) and taxation. Has largely replaced the DBA and Corporation in popularity recently as it provides liability protection but with much less complexity (and taxation) than a Corporation.

Step 2: Pick a Business Name

Picking a business name is easier said than done – many legal and business problems can arise from picking the wrong name (you can always change it later but the less you do that, the better). In Step 3 we’ll show you how to search for the name in Nevada, but we highly recommend you do the following before searching Nevada state databases:

• Make sure you’ve covered the basics: unique, easy to understand/pronounce (practice saying it out loud: “Thanks for calling XYZ”) and can survive over time (“DVD World” is not timely). Here are some of our tips on business identity including logo and trademarks.
• Search the web for your proposed name. Search Google, Bing and DuckDuckGo as a “first sweep” for any potential conflicts, especially in your state or local jurisdiction. NOTE: If you intend to operate nationally or even internationally it will be even more important that your name be unique. This should cover many cases where a company name is being used but not officially trademarked (see next tip).
• Do a trademark search with the US Patent and Trademark Office (USPTO). This will be a very good indicator if you’re name will have any conflicts. There’s an art to trademark searches (trademark specialists will charge you handsomely to do a thorough search) but in our experience if you can use google at a fairly advanced level you can reasonably clear a name yourself.

Tip: search misspellings, plurals, variations of spelling, sound-alikes, and other versions of your chosen name to be sure it’s not already registered.

• Make sure your company name choice is available by searching Nevada’s Department of State Business Entity Search. NOTE: Make sure to search variations of spelling, plurals and misspellings as the state may reject a name that is too similar (then you have to start all over again, wasting valuable time).

Step 3: Register the Business

Each state has its own requirements for registering a business. Now that you’ve chosen a business structure and picked your name, here are the requirements to register your business in Nevada.

How to form an LLC in Nevada

• File the Articles of Organization Limited-Liability Company with the Nevada Secretary of State. (1)
• Hire a professional registered agent. (2)
• Appoint members or managers.
• Hold an Organizational Meeting. (3)

How to Incorporate in Nevada

• File the Articles of Incorporation with the Nevada state department. (1)  If you are incorporating from outside Nevada, you will need to use different articles.
• Hire a professional registered agent. (2)
• Appoint directors.
• Hold an Organizational Meeting. (3)

Notes about Incorporation and forming an LLC in Nevada

1. The Nevada Secretary of State allows you to file your paperwork online via its web portal Silverflume or by mail. The filing fee is a minimum of $75. Online filing is usually immediate, but other methods could take 2-3 weeks. This may increase during peak periods.
2. A professional Registered Agent is a requirement for all Nevada Corporations and LLCs. The chosen registered agent must have a physical street address in Nevada. They will provide their address and forward any important documents to you. This is convenient if you have to move, since you won’t have to file forms or pay fees, just update your address with your agent.
3. Organizational meetings aren’t necessary for forming your business, but they’re advisable. Failure to hold an organizational meeting with your members or directors to establish the company’s Operating Agreement, compliance requirements, and legal requirements can lead to issues down the road. Save time and money now by properly organizing the company.

How to file a DBA in Nevada

DBAs in Nevada are filed with the county. You’ll want to contact your local County Recorder to find out exactly what forms to submit and what their submission process is. You can find the local county recorder’s office by searching “YOURCOUNTY county recorder”.

• Search your business as listed in step 2.
• Obtain and file the correct forms with the county to register your DBA.

Ready to Start Now? Let Us Do The Work

Sure, you could do all the steps above or you could spend 5-10 minutes on our order form and let us take care of it while you work on more important things.

• Find out how our LLC and Corporation formation services can do the work for you
• Read our verified reviews and 100% Satisfaction Guarantee
• Contact our friendly support team if you have any questions

Step 4: Obtain Your Federal Employer Identification Number

Your EIN is like your Social Security Number for your company. It’s required for Corporations and LLCs and optional for DBA’s (if you don’t have any employees, then it’s required). However, if you are a DBA and don’t obtain an EIN you will be forced to use your Social Security Number on many documents so it’s typically recommended you obtain the EIN to prevent identity theft.

To obtain an EIN you can apply online with the IRS or via IRS Form SS-4.

TIP: We will obtain your EIN for you if we form your company.

Step 5: Open Company Bank and Credit Accounts

To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. Call your chosen bank for steps on opening a business bank account. Typically you’ll need a) your filed paperwork b) your EIN c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).

Click here to view a list of our recommended banks in our Vendor Network.

TIP: Our business formation service includes a free banking resolution for your use.

Step 6: Set-up An Accounting System

Setup your Accounting and Record-keeping system and learn about the taxes your new company is responsible for paying.

Company documents generally are required to be kept for 3 years, including a list of all owners and addresses, copies of all formation documents, financial statements, annual reports, amendments, or changes to the company. All Tax and Corporate Filings should be kept for at least 3 years. View our “Accounting & Financial Management” section for help with setting up an accounting system and purchasing accounting software.

Review our list of Accountants, Accounting Software, and Bookkeepers in our Vendor Network.

Step 7: Obtain Licenses and Permits

Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).

The State of Nevada uses Silverflume, a one-stop portal where you can register your business with all the necessary divisions and obtain the necessary documents.

Tip: We work with a company that can obtain and prepare business licenses and permits for you. Click here to learn more.

Step 8: Hire Employees (if applicable)

If you intend to hire yourself or others as a full or part-time employee of your company, then you may have to register with the appropriate State Agencies or obtain Workers Compensation Insurance or Unemployment Insurance (or both). View our “Employees & Payroll” section for help with hiring employees and processing payroll.

Review our list of recommended Payroll Providers in our Vendor Network.

Step 9: Obtain Business Insurance

There are many types of insurance for businesses but they are usually packaged as “General Business Insurance” or a “Business Owner’s Policy”. This can cover everything from product liability to company vehicles. A decent policy can run as little as $300/year and offers a great extra level of protection.

Click here to view our list of insurance providers in our Vendor Network.

Step 10: Systemize and Organize

Prepare the business as if someone needed to take it over and run it for you. This means you should have a method to process orders, pay bills, pay employees, pay taxes, maintain your permits, etc. Basically, try to make the operational aspect of the business as automated and efficient as possible so you can concentrate on growing your business. View our “Manage Your Company” section for help with systemizing and automating your business.

Step 11: Branding and Marketing

Now that you’ve set up the company for success, you need to get the word out. Create a marketing plan for your products and services that targets your ideal customer. View our “Marketing & Sales” section for help for more information.

Step 12: Annual and Ongoing Requirements

All businesses operating out of Nevada must obtain a state business license from the Secretary of State, which must be renewed annually. The fee for licensing and renewal is $200 for DBAs and LLCs and $500 for Corporations.

DBA: In most counties, your DBA should be valid for 5 years (unless you change your name or other information listed on the FBN), at which point it will require renewal. Check with your county clerk for more information.

LLC: Nevada LLCs are required to file an annual report listing their officers, directors, and registered agent. This report, known as an ‘annual list,’ is due by the end of the first month after the LLC’s Articles of Organization were filed.  The filing fee is $350. Nevada does not require LLCs to pay an annual tax.

Corporation: All businesses incorporated in Nevada must also file an annual report, listing their officers, directors, and registered agent – the filing fee is $650.

Franchise Taxes: Nevada does not require its businesses to pay a franchise tax.

Click here to view our MyCompanyWorks Premium™ service which can automate most of your ongoing compliance tasks.

Important Nevada Contacts

Nevada Secretary of State

Nevada State Capitol Building
101 North Carson Street, Suite 3
Carson City, NV 89701
775-684-570

Nevada Department of Taxation

1550 College Parkway, Suite 115
Carson City, NV 89706
(775) 684-2000

Top 10 Nevada Startup Resources:

• US Small Business Administration
• Nevadasmallbusiness.com
• Nevada Small Business Development Center
• Nevada Business Magazine
• Las Vegas Business Press
• Nevada Department of Business & Industry
• Nevada Governor’s Office of Economic Development
• Nevada Women’s Business Center
• The Nevada Microenterprise Initiative Program