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When you form an LLC, or "limited liability corporation," you establish your business as a legal entity separate from yourself. This protects both your personal assets and your personal credit status in the event that some liability is incurred, or you encounter financial difficulties that force the business to close. If you have ever looked into what is required to incorporate online, you're probably aware that some states are considered "corporate havens." Those who incorporate business in states such as Delaware or Nevada enjoy certain protections and advantages not available elsewhere; there are good reasons to form an LLC in Nevada. What is required for Nevada incorporation? Every state has different requirements and procedures. If you plan to incorporate in Nevada, you'll need to know the ins and outs; it may be advantageous to hire an Internet consultant to assist you when you decide to incorporate online. Such an agency can be very helpful in making preparations when forming your Nevada corporation. Getting Started In order to form an LLC or otherwise incorporate in Nevada, the first thing you'll need is a unique name for your company. If you are using a personal name, you'll need to add "Inc.", "Co." or "Ltd." in order to make it clear that it is in fact a business and not a natural person. In addition, certain types of businesses must be approved by the state before incorporating in Nevada. This pertains specifically to financial services, engineering firms and insurance carriers. Articles of Incorporation Virtually every state requires that such documents be filed, and Nevada is no exception. In order to form an LLC in the state of Nevada, you must document the fact that you are of legal age (18 or older), include the location of your primary residence, and certify that you are in fact the director. If there are other directors, the same information must be filed when you incorporate a business in Nevada. While it is not necessary in order to form an LLC, if you are planning to incorporate in Nevada as a C-Corp or S-Corp and will be selling stock in the company, the Articles of Incorporation must include information on the type and amount of stock that will be issued. Resident Agent Every state requires a corporation to have a "resident agent." This person is someone who actually resides in the state of Nevada, who is authorized to receive correspondence from state agencies. Once You're Up and Running Incorporating in Nevada is not expensive or difficult as long as standard set procedures are followed. Once you form an LLC in Nevada, you'll need to furnish a list of officers and directors, even if that is you alone, as well as that of your resident agent. This information pertaining to your Nevada corporation will need to be updated every year. In addition, if you are planning to conduct business inside the state of Nevada and you reside elsewhere, you may need to register in your home state as a "foreign" or out-of-state corporation. It's a bit of trouble, but the protections and tax benefits you'll enjoy when you form an LLC definitely make it worthwhile. Wayne Hemrick provides businesses with advice on business incorporation and how to incorporate online. Nevada incorporation offers many benefits, and Wayne explains the options available when considering incorporating in Nevada.
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