Get Informed! What To Do After You Incorporate:
We have provided videos designed to answer some common questions ab0ut what to do after you incorporate. We hope you find the information helpful.
July 1, 2015 update: Legislation was passed to enact a Business License fee a.k.a. the Commerce Tax for companies that make over $4 Million annually.
Step 1: Obtain an EIN
Every corporation or LLC (other than a single-member LLC) must have an EMPLOYER IDENTIFICATION NUMBER - also known as an EIN. An EIN is like a Social Security Number for your entity. This number gives the entity its own ID to keep it separate from individuals.
Step 2: Bank Accounts
You should open the account in the state where your entity is domiciled. This helps to validate where you are doing business. If you open the account in another state, you will likely have to register to do business in that state as a foreign corporation to avoid penalties and hefty fines. If you intend to do business in another state, you may either want to set up a separate entity there or file as a foreign corporation. We can assist you with filing in any state.
Step 3: Licenses and Permits
WHAT LICENSES ARE REQUIRED FOR MY BUSINESS? License requirements will vary depending where the business is registered, the type of business, as well as by city, county and state requirements. The time it takes for them to be issued with also vary. For Nevada, you are required at a minimum to have a state license unless you qualify for an exemption. This license is issued when you file the Initial and Annual Lists.
Step 4: Tax Issues
Since there is NO STATE INCOME TAX in Nevada, you are not required to file a state income tax return. However, if you sell tangible goods in the state of Nevada, you are required to file a Sales and Use Tax Report with the Nevada Department of Taxation. Visit their web site at https://tax.state.nv.us for information and requirements.