Should you form your corporation in Nevada? We've collected the relevant information that will help you make this decision.
- Low state and local taxes
- Franchise tax
- Owner disclosure in original filing
Cost of doing business
- $75 filing fee / $650 annual statement
- Owner disclosure in original filing
Forming your corporation in Nevada
Nevada corporations are not subject to using a corporate signifier in their name, like in most states. However, one must be used if the corporation is using the name of an individual person. In addition, it is required that the name of your business is not intentionally misleading to consumers, for any reason. Your company’s new name must also be completely unique, and not deceptively similar to any other organizations name or trademarks. There are also restrictions based on several terms common to the financial or real estate industries. Do a FREE name search now.
Board of directors requirements
You will need to form an official board of directors when incorporating in Nevada. Here are the states explicit regulations regarding these directors:
- Required number of directors
Nevada corporations must have at least one director listed in their incorporation documents.
- Age restrictions
Directors of corporations located in Nevada must be at least 18 years of age.
- Residence restrictions
There are no residence restrictions imposed on the directors of C corporations in Nevada. However, S corporations are only allowed to have directors located in the United States.
- What information needs to be included in the Articles of Incorporation?
Nevada does require the names or addresses of directors to be disclosed in incorporation documents.
Requirements for the Articles of Incorporation
The Articles of Incorporation is a document that must be filed during the incorporation process in every state. Here is the information that must be included in this document when filing in Nevada:
Nevada requires the number of initial shares outstanding, and their par value, to be disclosed during the incorporation process. The number of outstanding shares does not affect initial state filing fees.
The state of Nevada does not require officer information to be disclosed during the filing process.
Registered agent information
All Nevada corporations must have a registered agent on file, and submit their name and address (which cannot be a PO box). This agent will be required to be accessible during standard business hours, and act as the state’s point of contact with the company. Learn more about registered agents.
AdditionalNevada filing requirements
Many states have steps in the incorporation process that are unique to that state. These can also vary at the municipality or county level as well. Here are the steps required throughout all of Nevada:
Initial report deadlines
All Nevada corporations must file both an initial list of officers and directors, as well as apply for a business license, within one month of incorporating. There are also fees associated with this process that must be paid, which can amount to several hundred dollars.
If your business is a professional practice
Professional service corporations are permitted to form under the professional corporation (PC) structure.
Corporate record keeping requirements
Corporations are required to keep formal documentation regarding several of their operations. These are the explicit record keeping formalities required by Nevada:
- A copy of the Articles of Incorporation, bylaws, and their amendments
- Records that detail the transfers of all outstanding stock shares.
Nevada corporate taxation and fee requirements
There are several tax and fee requirements that must be addressed by corporations in Nevada. They are as follows:
All states have complex taxation requirements. For more information regarding taxes in Nevada, it is advised that you visit the state’s official business related website.
Annual report requirements
While corporations in Nevada are not required to file an annual report; they must file a list of all of the company’s officers and directors, as well as obtain a business license every year. The combined cost of these filings is $325. Learn more about annual reports.
Tax identification numbers
Nevada requires an EIN (employee identification number) for all corporations that will have employees, and most banks will require one to open accounts. Nevada does require corporations to obtain state tax ID numbers. Learn more about EINs.
Business license requirements
The business licenses and permits required in Nevada vary wildly depending on the county or municipality in which your new corporation is located. If you would like to see more in-depth information on licenses and permits, please feel free to visit the content in our learning library that covers business licenses and permits.
S corporation election
Nevada does not require a state-level S corp election, due to the fact that it has no state income tax.
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