Archive | Doing Business in Nevada

Nevada LLC Operating Agreement

An LLC (limited liability company) operating agreement allows you to structure your financial and working relationships with your co-owners in a way that suits your business. In your operating agreement, you and your co-owners establish each owner’s percentage of ownership in the LLC, his or her share of profits (or losses), his or her rights […]

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Checklist for Forming a Corporation in Nevada

Nevada Incorporation and company registration. Contact the Nevada Secretary of State to determine if the proposed corporate name is available for registration. The proposed name of your corporation must be “distinguishable upon the records” of the secretary of state. A name is not considered to be distinguishable from another name if the only difference is: […]

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What are the principal advantages and disadvantages of using an S-corporation?

An S-corporation is generally treated as a flow-through entity for federal income tax purposes; that is, income and losses of the S-corporation are reported on the shareholders’ personal income tax returns. Thus, the chief advantage of an S-corporation is the ability to generally eliminate the federal entity-level income tax while using the corporate form of […]

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What is a C-corporation and what are the principal advantages and disadvantages of using one?

A C-corporation is typically a business organized as a corporation under state law and is subject to federal income tax under subchapter C of the Internal Revenue Code. A C-corporation is subject to federal corporate income tax on its taxable income, and its shareholders are subject to federal income tax on any dividends at a […]

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Starting a Business in nevada: Choosing and Starting a Form of Business

There are a number of legal structures or legal forms under which a business can operate in the State of nevada, including the sole proprietorship, partnership, limited liability company, and corporation. These basic structures have important legal and tax variants. For example, the partnership form has spawned the limited partnership and the registered limited liability […]

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How to Register a Limited Liability Company in Nevada

What Is an LLC? An LLC is a business structure that gives its owners corporate-style limited liability, while at the same time allowing partnership-style taxation. Like owners of a corporation, LLC owners are protected from personal liability for business debts and claims—a feature known as “limited liability.” Tis means that if the business owes money […]

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Seven Steps to Incorporate a new Company in Nevada

A corporation is a statutory creature, created and regulated by state law. In short, if you want the “privilege”—that’s what the courts call it—of turning your business enterprise into a corporation, you must follow the requirements of the Nevada  Business Corporation Act (BCA). What sets the corporation apart, in a theoretical sense, from all other […]

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