1. What must you do to form an LLC in Nevada?
The first step in forming an LLC in Nevada requires filing of Articles of Organization with the Nevada Secretary of State's Office. These Articles outline the name of the LLC, the Registered Agent for the LLC (one who receives service of process), a dissolution date, and list the LLC Managers and Members. A Registered Agent is designated to receive service of process of any and all documents generated from the Nevada Secretary of State and in the event the entity is served with a Complaint. The Registered Agent is commonly the company's attorney or someone within the company who can handle the responsibility of accepting service on the company's behalf. The required LLC forms can be found at http://sos.state.nv.us/business/forms/llc.asp.
2. How much does it cost to form an LLC?
It costs $75.00 to file your Articles of Organization with the Nevada Secretary of State ($125.00 if you request that your application be expedited). Relatively low cost, flexibility of management, and subsequent liability protection have increased the popularity of the LLC as a business entity option.
3. Why do I need a Nevada business lawyer to help me form an LLC?
A Nevada business lawyer can educate you on different types of entity protection to ensure that an LLC is best for you and your company. A lawyer can also draft an optional document entitled an "Operating Agreement." An Operating Agreement specifically provides for Member duties, voting rights and dispute resolution. Without an operating agreement LLC Members are left to seek resolution in a court system that is already taxed with voluminous litigation. The Operating Agreement is not required to be filed with the Nevada Secretary of State, affording the LLC's Managers and Members privacy from the public record.
4. When can I begin conducting my business as an LLC?
An LLC is considered legally organized upon filing the Articles of Organization with the Secretary of State or upon some later date specified in the Articles of Organization and the required filing fees have been paid. An LLC must not transact business or incur indebtedness, except that which is incidental to its organization or obtain subscription for contributions until the company is considered legally organized. With that being said, we encourage you to contact a Nevada business lawyer at the outset of LLC formation to ensure that all of the formalities have been satisfied, which in turn, gives your business the opportunity to hit the ground running.