Establishing a corporation for your business can provide tax advantages and limit your legal liability. This structure also allows you to grow your company with a public stock offering. Guidance from a business lawyer who knows the business regulations in Las Vegas, NV can streamline the process of setting up a corporation and help you avoid common issues.
Advice From a Corporation Lawyer on Starting a Las Vegas, NV Corporation
Choose a Unique Business Name
Your Nevada corporation needs a name that’s not already registered by another state business. You can reserve the business name you want through the Secretary of State if you’re not quite ready to establish your corporation. It costs $25 to save your desired name for 90 days. If you’re not quite set on a name, the agency’s website also lets you search registered state businesses so you can rule out identical and similar name options.
Nevada has a few other requirements for your corporate name. It can’t seem like a person’s actual name, and it must include either “Incorporated,” “Inc,” or “Corp” to indicate the company’s corporate status. In addition, you can’t include words that lead customers to believe you’re in a different professional industry. For example, you need special permission to use the words “engineer” or “architect” in your business name unless you’re licensed and registered to do that type of work.
File Articles of Incorporation
If Nevada is your primary business location, you must complete the state’s Domestic Corporation Articles of Incorporation Form. As an existing corporation located elsewhere and expanding to do business in Nevada, you’ll need the Foreign (Non-Nevada) Corporation Qualification Form. Required information includes:
- A unique name for your business
- The name and address of a registered agent who lives in the state and agrees to accept legal documents on behalf of the corporation
- Names and addresses of your directors if the corporation will have a governing board
- The purpose of the corporation
- The number and value of authorized shares you will issue
The Secretary of State offers online submission for both foreign and domestic corporations. Nevada charges a filing fee for the Articles of Incorporation that ranges from $75 to $35,000 depending on the total value of the available corporate shares. You can also pay an additional fee of $1,000 to form a Nevada corporation in one hour, $500 for a two-hour turnaround, or $125 for registration within 24 hours of submitting the Articles of Incorporation form.
Apply for a Business License and Tax Registration
Nevada has an online portal where you can register your corporation with the Department of Taxation. This tool will also guide you through the process of licensing your business with the state.
In addition to the state requirements to start a corporation, municipalities have separate regulations. For example, you need to license your business with the city to operate legally. The license jurisdiction within the city depends on your exact corporate address.
Our experienced team of attorneys can navigate the process of establishing a Nevada corporation for your business. The firm handles all aspects of corporate formation and governance. Schedule a consultation today with Hutchings Law Group in Las Vegas, NV and get ready to operate your company in one of the world’s most magnetic cities.
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