Are you considering incorporating your client’s new business in Nevada? Financial perks, such as tax benefits, make Nevada an alluring option for many small and large business owners. However, like with almost every state, there are certain requirements that an individual who wishes to do business in Nevada through a corporation, or a corporation that wishes to do business in Nevada, must follow.
First, prepare Articles of Incorporation and file them with the Secretary of State. A nonprofit corporation will also file Articles of Incorporation. This application may be completed online. The Articles of Incorporation must include:
- A sufficiently distinct business name. Your business cannot share the same name as another business or the same name as a natural person. The name of the corporation must include the word “incorporated,” “corporation,” “company,” or “limited” or an abbreviation. We can run a Nevada business name check on your behalf.
- State Business License. Every person or entity doing business in Nevada must apply for a State Business Licenses, although some businesses are exempt from this requirement.
- Information about stock shares. You’ll need to know the number of shares of stock, and their “par value” or stated value, that your corporation can issue. You’ll also need to list the number of shares without par value.
- Purpose of the corporation. Nevada requires a one-sentence response to “The purpose of this corporation shall be:” If the corporation will need to be regulated by another entity, such as the Financial Institutions Division or the Insurance Division, the appropriate regulating agency will need to approve the Articles before submission to the Secretary of State.
- Registered Agent’s information. The name, Nevada street address, and contact information of the Registered Agent. The Agent is the person charged with sending and receiving corporate documents and correspondence on behalf of the corporation, and the Registered Office. This person must sign, accepting the appointment as the Registered Agent. Attorneys Corporation Service, Inc. can provide you with a local RA.
- Incorporator’s information. The incorporator files the Articles of Incorporation and any other official documents required by the state. This person’s duties are finished once the corporation is incorporated. You must include the name, address, and signature of each incorporator.
- Directors’ or Trustees’ information. The corporation must have at least one director who is over the age of 18. Each director’s name and address must be listed, but an officer’s name and address need not be listed on the Articles of Incorporation form.
- Annual Report and Business License. In Nevada, a “Title 7 entity” is one that is organized according to the laws of Nevada that files its documents with the Secretary of State. These entities, which include domestic and foreign qualified corporations, limited liability companies, limited liability partnerships, and other organizational types, must file an Annual List of Officers or its equivalent. The State Business License is included with the Annual List of Officers. The Annual List of Officers and State Business License must be filed yearly on the anniversary of incorporation.
For more information on incorporating in Nevada or any of the 50 United States, contact the experienced business formation specialists at Attorneys Corporation Service, Inc. today.
