Nevada has no state income tax for corporations or individuals, low state payroll taxes,
no inventory tax and no franchise tax. University of Nevada Small Business Development Center:
This makes Nevada an attractive place to do business. Any revenue generated in Nevada by a Nevada
LLC will not be subject to tax.
In order to register an LLC in Nevada, you need to file articles of organization with the secretary of state. A filing fee of $75 needs to be enclosed with the application, and may be paid by check, e-check, or credit card. The following information is required to register an LLC in Nevada:
Name of the Organization
The name must be original. To see if someone has already trademarked the name, you can check with the U.S. Patent and Trademark Office. If the name you wish to use relates to industries that are licensed by the state such as banking, finance, insurance, engineering, accounting or real estate, the name must also be approved by the respective licensing board.
If the company is sued, the registered agent is the entity who would accept service of process. The agent must provide a Nevada street address and sign a certificate of acceptance as part of the registration process. State of Nevada: Limited Liability Company Packet.
Limited liability companies may be managed by either a manager or a member (owner). The name and address of each manager or member who will be serving as a manager must be included on the application. State of Nevada: Limited Liability Company Packet.
The articles can be executed by one or more individuals. The name and address of each organizer needs to be listed on the form.
In as little as an hour, you can complete the process of establishing an LLC in Nevada by filing one form and paying a fee. In return, you establish a business structure that protects your personal assets by keeping them separate from your company's operations and therefore keeping them away from business creditors as well.
Company Management and Membership Composition
Under Nevada Limited Liability Company Laws, a limited-liability company's management is vested in its members in proportion to their contribution, although the articles of organization can stipulate management is vested in manager(s). In this case, managers do not need to be members and their management rights are as prescribed by the LLC's operating agreement. In simpler terms this means that by default, the LLC will be managed by the members (the parties with legal rights to the profits of the company), and their management rights will be proportionate to the value of their capital contributions. However, an operating agreement can provide the members' management rights will be "lopsided" or even that only specific individuals will own management rights.