Opening a small business is becoming very trendy today. This is because it is easier to start and the processes involved are not so critical. Also, the Limited Liability Company is the most popular that is legal and applicable for small businesses. It is flexible and helps the small businesses that are seeking personal liability protection. There are some steps that should however be followed when opening this kind of a business. Also, there are some requirements that have to be met. The following are the steps to follow when starting an LLC in Nevada.
To begin with, you should come up with a unique brand name for the company. This name should be verified before you start using it. Even if you will copy other names, make sure that it has some uniqueness to avoid being too similar. Also, you should not include any restricted wording in the name. You may include words such as Limited Company or abbreviations of the same.
Once you have secured a business name, the second thing to do is hire a Nevada registered agent. This is a requirement that you must not skip if you want to operate the business. The agent should be verified and licensed by the authorities. These professionals are paramount as they represent your business. They can handle all legal matters for you and even help you to run the business in your absence.
Thirdly, you are required to fill the business organization articles. These forms are obtained from the internet. Hence, you can visit the website of the secretary of state, download, fill and file them. You may send them to the state secretary though a postal mail. These forms are official declarations of the form of business, its name, founding date, operation hours and ownership information among other vital information.
The fourth step is obtaining an EIN. This is an Employer Identification Number that is similar to a personal Social Security Number. It is a nine-digit unique number that all business people must obtain. It helps the business person to hire employees legally and open a business bank account among other things. Also, most of the business transactions that you make will require this number.
After obtaining the EIN, you can now easily open a bank account for your company. This is not a critical step and you can be done within no time. You may decide to open another account with your current bank or select a totally different one. The bank you choose should be reliable.
After that, you may or may not decide to draft an operating contract or agreement. This is optional as it is not among the requirements. However, it is imperative to have this operating agreement for honesty and transparency purposes. Thus, even if it is optional, it is good to have it.
The last step that you should not forget is handling the taxes and the licenses. For you to operate, you should obtain all the right licenses. Without these permits, you will not be allowed to run the business in that state. Thus, make sure you have obtained all the necessary licenses and handle all the taxes.
To begin with, you should come up with a unique brand name for the company. This name should be verified before you start using it. Even if you will copy other names, make sure that it has some uniqueness to avoid being too similar. Also, you should not include any restricted wording in the name. You may include words such as Limited Company or abbreviations of the same.
Once you have secured a business name, the second thing to do is hire a Nevada registered agent. This is a requirement that you must not skip if you want to operate the business. The agent should be verified and licensed by the authorities. These professionals are paramount as they represent your business. They can handle all legal matters for you and even help you to run the business in your absence.
Thirdly, you are required to fill the business organization articles. These forms are obtained from the internet. Hence, you can visit the website of the secretary of state, download, fill and file them. You may send them to the state secretary though a postal mail. These forms are official declarations of the form of business, its name, founding date, operation hours and ownership information among other vital information.
The fourth step is obtaining an EIN. This is an Employer Identification Number that is similar to a personal Social Security Number. It is a nine-digit unique number that all business people must obtain. It helps the business person to hire employees legally and open a business bank account among other things. Also, most of the business transactions that you make will require this number.
After obtaining the EIN, you can now easily open a bank account for your company. This is not a critical step and you can be done within no time. You may decide to open another account with your current bank or select a totally different one. The bank you choose should be reliable.
After that, you may or may not decide to draft an operating contract or agreement. This is optional as it is not among the requirements. However, it is imperative to have this operating agreement for honesty and transparency purposes. Thus, even if it is optional, it is good to have it.
The last step that you should not forget is handling the taxes and the licenses. For you to operate, you should obtain all the right licenses. Without these permits, you will not be allowed to run the business in that state. Thus, make sure you have obtained all the necessary licenses and handle all the taxes.
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