Feb 28, 2020

Set up an LLC in Nevada

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←Older revision Revision as of 04:50, 29 February 2020
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#* In a ''member-managed LLC'', all the members (a.k.a., owners) of the business share responsibility for day-to-day management. This is the most common management structure because most LLCs are small businesses without a need for a separate management tier. In most LLCs, the owners also want to be the managers. In Nevada, while you are required to explicitly choose one management style in your Articles of Organization, the default is the member-managed system.<ref>https://ift.tt/2VxmOeM>
 
#* In a ''member-managed LLC'', all the members (a.k.a., owners) of the business share responsibility for day-to-day management. This is the most common management structure because most LLCs are small businesses without a need for a separate management tier. In most LLCs, the owners also want to be the managers. In Nevada, while you are required to explicitly choose one management style in your Articles of Organization, the default is the member-managed system.<ref>https://ift.tt/2VxmOeM>
 
#* In a ''manager-managed LLC'', only designated members (or possibly outsiders) will have managerial authority over the LLC. This is a great option when some of your members only want to be passive investors. It is also common to utilize this structure hen some of your members are not skilled in managing a business or when your LLC is too large to allow every member to manage.<ref>https://ift.tt/3ciynNa>
 
#* In a ''manager-managed LLC'', only designated members (or possibly outsiders) will have managerial authority over the LLC. This is a great option when some of your members only want to be passive investors. It is also common to utilize this structure hen some of your members are not skilled in managing a business or when your LLC is too large to allow every member to manage.<ref>https://ift.tt/3ciynNa>
#Prepare the Articles of Organization. You must file a document titled, “Articles of Organization.” This is a single document that sets forth the basic organizing structure of your business. A template form for the Articles of Organization is available on the website of the Nevada Secretary of State at http://nvsos.gov/sos/home/showdocument?id=1004. Alternatively, you can draft your own. As a minimum, your Articles of Organization must include the following information:<ref>http://www.leg.state.nv.us/NRS/NRS-086.html#NRS086Sec161</ref>[[Image:Write-a-Jury-Excuse-Letter-Step-13.jpg|center]]
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#Prepare the Articles of Organization. You must file a document titled, “Articles of Organization.” This is a single document that sets forth the basic organizing structure of your business. A template form for the Articles of Organization is available on the website of the Nevada Secretary of State at https://www.nvsos.gov/sos/home/showdocument?id=1004. Alternatively, you can draft your own. As a minimum, your Articles of Organization must include the following information:<ref>http://www.leg.state.nv.us/NRS/NRS-086.html#NRS086Sec161</ref>[[Image:Write-a-Jury-Excuse-Letter-Step-13.jpg|center]]
 
#*The name of the limited-liability company;
 
#*The name of the limited-liability company;
 
#*The name and address, either residence or business, of each of the organizers signing the articles;
 
#*The name and address, either residence or business, of each of the organizers signing the articles;
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#Appoint a Registered Agent. Every LLC that is incorporated in Nevada must name a registered agent. This is a person who is designated to accept official service of any litigation or other legal documents, if necessary. The registered agent must have a street address (no post office box) in the state of Nevada. The registered agent may be an officer or employee of the corporation, but is not required to be.<ref>http://www.leg.state.nv.us/NRS/NRS-086.html#NRS086Sec231</ref>[[Image:Become-a-College-Professor-Step-9-Version-2.jpg|center]]
 
#Appoint a Registered Agent. Every LLC that is incorporated in Nevada must name a registered agent. This is a person who is designated to accept official service of any litigation or other legal documents, if necessary. The registered agent must have a street address (no post office box) in the state of Nevada. The registered agent may be an officer or employee of the corporation, but is not required to be.<ref>http://www.leg.state.nv.us/NRS/NRS-086.html#NRS086Sec231</ref>[[Image:Become-a-College-Professor-Step-9-Version-2.jpg|center]]
 
#*Some LLCs choose to appoint one of the members as the registered agent or an employee, such as a receptionist or secretary. In other cases, if you wish to separate the service from your business operations, you might want to subscribe to a professional company that will serve as registered agent. You can find these by performing a quick Internet search for "registered agent" in your area.
 
#*Some LLCs choose to appoint one of the members as the registered agent or an employee, such as a receptionist or secretary. In other cases, if you wish to separate the service from your business operations, you might want to subscribe to a professional company that will serve as registered agent. You can find these by performing a quick Internet search for "registered agent" in your area.
#*An official form for designating your registered agent is available at the website of the Nevada Secretary of State at http://nvsos.gov/sos/home/showdocument?id=1004.
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#*An official form for designating your registered agent is available at the website of the Nevada Secretary of State at https://www.nvsos.gov/sos/home/showdocument?id=1004.
 
# Create an operating agreement. In Nevada, you are not required to adopt an operating agreement. However, as a practical matter, you should never start an LLC without one. An operating agreement is a written document executed by every member of your LLC. The document will lay out how the business's affairs will be handled and how business will be conducted.<ref>https://ift.tt/2PyVFEC> Among other things, your operating agreement should define the right and responsibilities of every member and/or manager.[[Image:Cancel-a-Check-Step-8-Version-2.jpg|center]]
 
# Create an operating agreement. In Nevada, you are not required to adopt an operating agreement. However, as a practical matter, you should never start an LLC without one. An operating agreement is a written document executed by every member of your LLC. The document will lay out how the business's affairs will be handled and how business will be conducted.<ref>https://ift.tt/2PyVFEC> Among other things, your operating agreement should define the right and responsibilities of every member and/or manager.[[Image:Cancel-a-Check-Step-8-Version-2.jpg|center]]
 
#* In a member-managed LLC, this might include member voting rights, capital contributions, and buy-out rights.
 
#* In a member-managed LLC, this might include member voting rights, capital contributions, and buy-out rights.
 
#* In a manager-managed LLC, your operating agreement will have to clearly address the authority of the managers. For example, will the managers be solely responsible for hiring and firing decisions, or will members have some say as well? Additionally, what managers will be able to buy materials and lease real estate?<ref>https://ift.tt/3ciynNa>
 
#* In a manager-managed LLC, your operating agreement will have to clearly address the authority of the managers. For example, will the managers be solely responsible for hiring and firing decisions, or will members have some say as well? Additionally, what managers will be able to buy materials and lease real estate?<ref>https://ift.tt/3ciynNa>
#File the Articles of Organization and statement of registered agent. You should file the original and one copy of your papers with the Secretary of State’s office. For a fee of $30.00, you can request that an additional copy be certified and returned to you for your records.<ref>http://nvsos.gov/sos/home/showdocument?id=1004</ref>[[Image:Get-an-Emergency-Protective-Order-Step-13.jpg|center]]
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#File the Articles of Organization and statement of registered agent. You should file the original and one copy of your papers with the Secretary of State’s office. For a fee of $30.00, you can request that an additional copy be certified and returned to you for your records.<ref>https://www.nvsos.gov/sos/home/showdocument?id=1004</ref>[[Image:Get-an-Emergency-Protective-Order-Step-13.jpg|center]]
 
#*Submit your completed filing to Secretary of State, New Filings Division, 202 North Carson Street, Carson City, NV 89701-4201. You must include the filing fee of $75.00.
 
#*Submit your completed filing to Secretary of State, New Filings Division, 202 North Carson Street, Carson City, NV 89701-4201. You must include the filing fee of $75.00.
 
#*If you wish to expedite your filing, then prepare the paperwork and send it to Secretary of State – Las Vegas Commercial Recordings Division 555 East Washington Ave, Suite 5200 Las Vegas NV 89101. The filing fee for expedited filings is the original $75.00 fee plus an additional $125.00 for expedited service.
 
#*If you wish to expedite your filing, then prepare the paperwork and send it to Secretary of State – Las Vegas Commercial Recordings Division 555 East Washington Ave, Suite 5200 Las Vegas NV 89101. The filing fee for expedited filings is the original $75.00 fee plus an additional $125.00 for expedited service.


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