Nevada Corporate Frequently Asked Questions
Why choose SunDoc Filings?
SunDoc Filings can help you form a Nevada corporation with the Secretary of State on an expedited basis. To form a corporation or a subchapter S corporation, you must file the Articles of Incorporation with the Secretary of State. SunDoc Filings has been forming corporations since 1999 and knows the state’s requirements to handle your formation professionally and without delay. Let us make the incorporation process quick and painless for you by preparing and filing the Articles of Incorporation with the Secretary of State on your behalf.
How do I form a Nevada Corporation?
First, we check corporate name availability with the Secretary of State. Second, we prepare the Articles of Incorporation. Third, before we form the corporation, we check for completeness. Fourth, we file the Articles of Incorporation with the Nevada Secretary of State. Fifth, when the Nevada Secretary of State files the Nevada Articles of Incorporation, we will return the filed document to you.
What are the advantages of forming a Nevada Corporation?
To begin with, there is the protection of the "corporate veil" that provides limited liability to the owners (shareholders). The shareholders are not personally liable for debts and obligations of the corporation. They can personally lose only to the extent of their investments in the Nevada corporation form purchasing stock. Since the Nevada corporation is an independent legal entity, the Nevada corporation has continuous existence. It does not cease to exist simply because one of the shareholders dies or retires. Corporations often have an easier time setting up insurance, retirement funds, profit-sharing, pension, and stock option plans than other business entities.
When you form a corporation, the owners (shareholders) are not personally liable for the debts and obligations of the corporation. Ownership in a corporation is more easily transferable than other business entities. Under most circumstances, shares of stock can be sold without restriction to a third party without having to obtain consent from the Nevada corporation itself.
How do I obtain an EIN or Employer Identification number or Tax Payer ID number for my Nevada Corporation?
After we form a Nevada corporation on your behalf, we offer supporting services. We can obtain an employer identification number (an EIN) for your Nevada corporation. An EIN is required to open a bank account, hire employees, and to start business credit for your Nevada corporation. If you purchase our Nevada premium package, EIN obtainment is included for your Nevada corporation.
How do I form a Nevada S Corporation?
It is important to understand that your Nevada S corporation starts as a general stock corporation (C corporation). To obtain or to form an Nevada S corporation, you must file for subchapter S status with the Internal Revenue Service (IRS). Forming an Nevada S corporation simply means the corporation is taxed like a partnership or LLC with a pass through tax structure. Make sure to check with your accountant or the IRS for limitations or read about Nevada C corporations below. By obtaining S corporation status in Nevada, it eliminates double taxation and the corporation generally does not file a tax return. On their tax return, the Nevada S corporation's shareholders include their share of the Corporation's separately stated items of income, deduction, loss, and credit, and their share of non-separately stated income or loss.
What are the advantages of a C Corporation in Nevada?
Generally most people form Nevada C corporations that plan on publicly trading the corporation's stock. Since Nevada S corporations cannot have more than 75 shareholders, choosing to maintain a Nevada C corporation allows for 76 shareholders or more. A C corporation can have multiple classes of stock such as preferred and common shares. A Nevada C corporation will be double taxed since both the corporate entity and the individual owners have to file tax returns. However, a S corporation can only be owned by individuals that are U.S. citizens or registered aliens, issue only one type of stock, and are limited to no more than 75 shareholders.
How do I obtain or prepare corporate bylaws for my Nevada Corporation?
If you purchase our premium package, SunDoc will prepare the initial bylaws (standard language) for your Nevada corporation and include meeting minutes (MS Word format) that you can prepare as needed.
What are the corporate bylaws and why are they so important for my Nevada corporation?
The corporate bylaws serve as a blueprint for your Nevada corporation The bylaws contain the rights, privileges, and powers of the officers, directors, and shareholders. Most Nevada bylaws contain the number of directors and their names. Nevada bylaws also contain the names of the officers for the titles: President, Vice-President, Secretary, and Treasurer/Chief Financial Officer (CFO).
Another important part of Nevada corporation bylaws is to create "rules" on how the Nevada corporation can open a bank account, take out loans, write checks, enter into contracts, obtain business credit, and issue stock certificates to its shareholders. Most bylaws will reference a list of shareholders in alphabetical order that includes Nevada shareholder's names, addresses, titles held with the corporation, and the amount of shares the shareholder owns in the corporation.
What is an Nevada corporate seal?
After the corporation prepares its bylaws or has SunDoc prepare the bylaws, the corporation will need a corporate seal. A corporate seal is a handheld device that imprints paper with the corporation's name, state of formation, and date the Nevada corporation was formed. Many banks and other lending institutes require corporations to possess and use a corporation seal on business documents or loan papers. All Nevada corporation kits that SunDoc sells contain a handheld corporate seal embosser.
What is a Nevada corporate kit?
The Nevada corporate kit is typically a hardbound binder that contains all of the Nevada corporation's important documents such as the Nevada Articles of Incorporation and bylaws. All the Nevada corporation kits that Sun sells include having the Nevada corporation's name hot stamped (professional imprint of the Nevada corporation's name) on the spine. Most Nevada corporation kits come with a slipcase to keep the binder safe. Some corporate kits are made with a slipcase built in. The choice is yours.
Another important part of an Nevada corporate kit is stock certificates. All of the Nevada corporate kits that Sun sells contain 20 custom stock certificates that include the Nevada corporation's name, the amount of shares, the par value the corporation is authorized to issue, and the title of President and Secretary below the signature lines. If you have already formed your Nevada corporation, you can order a Nevada corporate kit by clicking here. We have a selection of high quality kits that come in array of styles and colors.
Now that you have formed your Nevada corporation, obtained your EIN from the IRS, decided upon whether to elect S corporation status or remain a C corporation, prepared the Nevada bylaws, issued shares of stock, and used your seal embosser, it is time to verify which local city and/or county tax licenses your business will need. The best place to start is your city hall or county recorder's office. Take the time to verify your areas business licensing requirements. For those of you who plan to run your Nevada corporation out of your home, check with your city or county to find out if a work at home permit is required. Once your licensing requirements are met, it is time to start operating your Nevada corporation
Helpful Nevada Business Links
State of Nevada http://nevada.gov/
Nevada Commission on Economic Development http://www.expand2nevada.com
Nevada Cooperative Extension http://www.unce.unr.edu
Nevada Department of Taxation http://tax.state.nv.us
Nevada Dept of Transportation DBE site http://www.nevadadbe.com
Nevada Dept. of Business & Industry http://dirweb.state.nv.us/
Nevada Gaming Control http://gaming.nv.gov/
Nevada Micro Enterprise Initiative http://www.4microbiz.org
Nevada Procurement Outreach Program (POP) http://www.expand2nevada.com/procurement.html
Nevada Safety Consultation & Training (SCATS) http://4safenv.state.nv.us
Nevada Secretary of State http://sos.state.nv.us
Nevada State Contractors Board http://www.nvcontractorsboard.com
State Government Forms http://silversource.state.nv.us
State of Nevada Division of Industrial Relations http://dirweb.state.nv.us/
Nevada Labor Commissioner http://www.laborcommissioner.com/