The BizFilings blog covering business tips and trends.
New filing requirements in Nevada
Published on Nov 30, 2009
Read 'New filing requirements in Nevada' at 'Time to Start Up,' the small business blog by BizFilings.
Heads up for anyone thinking of forming your company in Nevada. The state of Nevada recently changed the department that oversees the Annual Business Licenses. This change affects both the due date and the price.
In the past, the Department of Taxation was responsible for all business licenses. But, effective October 1, 2009, the administration of everything business license was transferred to the Secretary of Sate.
The Secretary of State now requires new corporations to file an Initial List of Officers/Directors and Business License, and new LLCs to file an Initial List of Members/Managers and Business License, on or before the last day of the first month after the formation.
The first the last the what? Yeah. So for example, if you formed your company on the 12th of November, you have until December 31st to file your Initial List and Business License. The downside is that you have the same deadline if you form your company on the 29th of November.
In order to make sure your company is compliant with the state and in good standing, it's best to just file this right up front when you incorporate your company in the first place. Several incorporation service providers can help you do this, and FULL DISCLOSURE: BizFilings is of course, one of those services. Once you file and pay the fee, your company will stay in good standing and you'll get your business license at the same time. It might add to the total incorporation cost upfront, but saves time and money in the long run.
After the Initial filing, the Business License due date will coincide with all the Annual List due dates, which will always be the last day of your business formation month. Continuing with the example from above, your annual due date would be November 30th.
The second major change is the new fee. The Secretary of Sate has issued a $200 fee for the Business License filing. This fee will be collected by the state with the Initial filing as well as the annual renewals.
All-in-all it's not really that dramatic a change, but just one more thing to consider if you are thinking about incorporating your company in Nevada.