How You Can Easily Incorporate In Nevada
Nevada is a beacon for many people to incorporate there, and for good reason. First, the laws and regulations surrounding taxes are very favorable for business owners. Not only is there no franchise or equity tax, but there is also none on corporate incomes and shares. In addition, there is no state income tax, which makes workers want to flock to the state.
For proper incorporation that is legal, you must complete a list of steps, the first of which is simply to give the business a name. You will want to think long and hard on this, to ensure it is something that is easy for customers to remember and will attract future customers as well. Then, you must do an online name check to ensure no other company has selected and is currently using the name.
Then, you must recruit your staff, particularly your managers if you are building an LLC or directors if you are starting a corporation. You must, by law, have at least one direct who is 18 years of age or higher. They do not have to be Nevada residents, which lets you cast a a much longer line for talent.
After you have hired your management staff, you can file your paperwork with the Secretary of State to get incorporated. The LLCs file what are called Articles of Organization and a corporation should file what are called Articles of Incorporation.
The state of Nevada is not the only entity with rules and laws on the books regarding running a business. Depending on what city or county you are setting up in, there may be other regulations, licenses and permits that you must get to start your business.
You must also have proof that you have opened a bank account specifically for the business. State laws say that you must keep personal funds and business funds completely separate, so make sure you take this very important step.
Once all this is done, you can begin conducting business. However, each year you are required to file an annual report with the state. You must also renew your license each year, which does come with a fee. If you are a corporation, then the cost is $150 per year for filing the annual list and $500 for your license. If you are an LLC, then the cost is $150 for the annual list filing and $200 for the license renewal.
Though your managers or directors do not have to reside in the state, you do need to have an actual physical location and some employees who do call Nevada home who work there. An address and phone number within the state boundaries is a must, so you should find a realtor to help you scout locations so you can put the final touch on your official incorporation.
About the Author: