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Mail Forwarding for Start-ups

Date: 03/18/2020 | Category: | Author: Martin Pouzar

MAIL FORWARDING FOR START-UPS

Launching a start-up business is not as easy as it sounds and there are several aspects to consider including mail forwarding for start-ups. It is a known fact that every start-up business will get mails from the government offices like the Secretary of State, other public agencies, clients or customers, feedback or queries, vendors, and business associates and partners among others. Mail forwarding for a start-up ensures the business is able to receive any and all important mails without fail, so that the primary business activities are not hampered.

Introduction to Business Address for Startups

Mail forwarding services are extremely beneficial to startups, especially if you are someone who requires extensive traveling. This simply means that there is a possibility that you may not receive your mail on time or there is the risk of losing it in transit. A mail forwarding service ensures you receive all your important mails on time. It is also important to know that mail forwarding for start-ups is possible only if the company has a virtual or physical business address. The question is how can a business address really help a start-up?

How important is a Business Address for Start-ups?

A start-up is like a growing small business, which probably will have an office setup with few people or it may be completely home based. The importance here is not on the type of business activity but where the start-up operates from. Why is an address important for a start-up? An address will ensure proper mail forwarding for start-ups. When we talk of address and mail forwarding, there are two categories:

  • Businesses with a Street Address: This is a proper street address and not a P.O Box address and can be used for mail forwarding for start-ups. This type of address is highly useful for those start-ups that require a physical office to highlight legitimacy. A physical office is also useful for maintaining face-to-face communication with clients, customers, vendors etc.
  • Businesses without a Street Address: There are some start-ups that are operating completely online and they don’t really require a street address. A virtual mailbox for start-ups is just the right option for such businesses. As a part of this service, your start-up doesn’t require a street address as the service provider will collect or receive all mails on your behalf at their physical street address and then notify you through email. This provides a lot of privacy and security especially if a start-up doesn’t want their address to be public.

Common Business Address Providers for Start-ups

You are probably wondering if there are any commercial or common business address providers for start-ups that you could choose from. The primary goal of a business address provider is to help with mail forwarding for start-ups. Let’s look at the different categories that you can choose from:

  • Virtual Office: A virtual office for start-ups provides an entrepreneur or a small business with a physical address as well as office-related services without the need for any staff. You can also request mail forwarding services at your virtual office.
  • Virtual Mailbox Service: This is basically a type of digital mailbox service, which is accessible through a laptop, computer, or Smartphone. This is considered as one of the best virtual mailbox for start-ups as this offers a real street or business address for receiving all your important or work related mails.
  • Private Mailbox: Private mailbox is another service related to mail forwarding for start-ups. The providers of such a mailbox are normally situated in retail centers. They lease mailboxes that are more commonly linked to the address of their store. This type of mailbox can be rented from places like PostNet, The UPS Store, etc.
  • Co-working Space: These days’ startups opt for co-working spaces to cut down on their overheads or office rent. This kind of space is quite popular with entrepreneurs working remotely. It is basically a shared space within a specific office building or premises and can be used towards mail forwarding for start-ups.
  • Commercial Office: As the name suggests, a commercial office is unlike a virtual office for start-ups. It also provides a street business address and has to be rented out by the start-up.

Virtual Mailbox & Mail Forwarding for Startups

Virtual mailbox for startups is a specialized service that allows entrepreneurs to get all their postal mail online. As an entrepreneur, you choose the physical address of the provider so that your mail can arrive at the provider facility. Depending on the provider services, any packages or mail will be scanned and uploaded to your virtual or digital mailbox.

Why is Virtual Mailbox the most preferred for Start-ups?

Startups and new businesses focus on budgeting and lowering their capital expenditure. In such a scenario a virtual mailbox for start-ups is one of the best options as then they won’t require a physical office. In fact, digital offices are becoming more popular with start-ups because they are cost effective as well as highly productive. The question that you are probably asking yourself is how will a virtual mailbox address the need for mail forwarding?

It is interesting to note that one of the primary features of a virtual mailbox for start-ups is that, it will provide you with a real street address and this will be the address for all your mailing requirements. There are several other features of the virtual mailbox that has made it immensely popular with entrepreneurs and home based businesses. These include:

  • Virtual office for startups initiates management of mail and packages almost 24/7
  • The service includes a mail or package scanning service
  • This service ensures there is lower shipping fee and the packages are consolidated
  • Mail forwarding for startups is available domestically as well as internationally
  • Mails or packages sent by a variety of carriers are accepted including UPS, USPS, FedEx, DHL, etc
  • A virtual mailbox provide digital security to the mailbox
  • It is ideal for a variety of businesses and people, including expats, first time entrepreneurs, small businesses, travelers etc.

Experience the many advantages of using a virtual mailbox!

What are the Top benefits of using Virtual Mailbox for Start-ups?

A virtual office for start-ups is packed with several powerful features and they translate into benefits for the business or entrepreneur. Let us take a look into some of the top benefits.

  • Get a Street Address: One of the prime benefits is that you can get a street address without renting commercial space! A virtual office for start-ups means that you can work from home or anywhere in the world and your mail will be received at a physical address and then forwarded to you. The virtual mailbox service is widely acceptable as compared to a PO Box address. You can even use your virtual address in applications for credit cards, driver’s license, and other business filings. It will be as good as a commercial business address.
  • Highly Secure: One of the reasons for the popularity of virtual mailbox for start-ups is that it offers both privacy and security. How does it work? The mail or package is delivered directly to the physical address or the provider’s facility thus eliminating the need for a middleman. As a result, risk of loss, tampering, damage or even theft is minimized. The mails or packages will be scanned and uploaded to a digital mailbox, so that you can view it from anywhere in the world. All the online data will have high encryption levels thus making it more secure.
  • Privacy: There are several startups and home based businesses that don’t want their business address to be public. When you opt for virtual mail forwarding for startups, the mails are received at a secure address different from your home or personal address. This ensures high levels of privacy.
  • Check Mails on the Go: A virtual mailbox for start-ups is an ideal option for entrepreneurs traveling a lot. Whether it is a holiday outside the US or a conference anywhere across the nation, you will always have access to your mail.
  • Streamlined Process: The process of receiving mail and sorting it can be a time consuming process. It is a tedious task but virtual mailbox for start-ups helps in easing the entire process and thus saves time. This type of service helps in digitizing all incoming business mail while eliminating junk mail. This eases record-keeping and promotes a paperless office.

How IncParadise Mail forwarding helps your Start-up?

IncParadise is one of the reputed registered and mail forwarding agents in the nation. We believe that the mail forwarding requirements of every start-up and each entrepreneur varies and hence we have created different virtual mailboxes for start-ups plans. Some of the salient aspects of mail forwarding plans include:

  • You will enjoy privacy because your start-up will be allotted a street address in our office building.
  • All your mails will be received by us on your behalf and will be scanned daily and entered into our system. This makes the process streamlined.
  • Our mail forwarding for start-ups notification system will send an email to you updating mails received and scanned.
  • You will have the option of choosing what mails should be entered into the system.
  • You will have access to our state-of-the-art mail forwarding app that will provide you with notifications of new mail. You can also use the app to request for scans and provide special instructions regarding specific mails.
  • IncParadise can also digitally upload your mail to a cloud based storage service like Google Drive.

Choose a Mail Forwarding Plan & Get a Business Address!

Virtual Office for Start-ups

The age of online communication capabilities integrated with cloud technology has led to the popularity of virtual Offices for start-ups including home-based businesses. As a start-up or a modern day entrepreneur, you have to stay ahead of your competition and at the same time build a professional image. A virtual office for start-ups serves as a regular office without having to rent out space and yet you can enjoy many services.

What services Virtual Offices provides?

A virtual office for start-ups can have a variety of benefits and this range from providing credibility to strengthening brand image. One of the highlights of choosing a virtual office means that the overhead of running a start-up will be lower than the overhead of a standard or traditional work space. Some of the important services provided by these offices include:

  • Your business will be assigned a postal address so that mail forwarding for start-ups is possible.
  • These virtual offices also provide call forwarding. As a part of the service, you will be provided with a business phone number that can forward all your important calls to your phone.
  • You can benefit from discounted rates for accessing professional meeting rooms
  • Video conferencing capabilities
  • Mail sorting and scanning service

MAXIMIZE START-UP BENEFITS BY OPTING FOR A VIRTUAL OFFICE!

Virtual Office & Mail Forwarding

Date: | Category: | Author: Martin Pouzar

VIRTUAL OFFICE & MAIL FORWARDING

There is a new norm in the world of business that is looking at options related to remote working or work space. Some of the top businesses are looking at remote work policies while a new breed of entrepreneurs and startups are opting for a virtual office. In fact, working from home and working while traveling like digital nomads is what the contemporary business scenario looks like. It is indeed a paradigm shift and the online marketplace has a key role to play in this shift.

An Introduction to Virtual Office

The internet is home to a variety of businesses including affiliate marketing, blogging, career coaching, online education, graphic design, photography, consultancy, virtual assistantship, and e-commerce among others. This shift of work space from a brick and mortar office to an online space has created the need for a virtual office. Entrepreneurs, especially those who have to move around or travel a lot are finding virtual offices quite beneficial. So, what are virtual offices and how do they work?

What is a Virtual Office?

A virtual office is a type of service focusing on specific requirements of modern day entrepreneurs and start-ups. Virtual offices enable business owners and employees to deliver a wide variety of business solutions and functions while working remotely. One of the key aspects of working through virtual offices is accessibility to the internet. These offices also enable start-ups and small businesses to create as well as maintain a professional image and presence at a prominent location within a state or the country. This is made possible by opting for virtual offices in Nevada without having to pay any rent for a brick and mortar work space.

Why use Virtual Office?

The essence of a virtual office lies in its ability to offer businesses and entrepreneurs to enjoy several benefits of a brick and mortar office without being in the physical office space. You are probably wondering how virtual offices can actually benefit you or your business. Let’s look at some of the reasons why entrepreneurs and start-ups are favoring these offices over the traditional physical office.

  • A physical address at a prominent location will help your business maintain a professional image and help increase your brand value
  • A virtual office with a street address means you can work from anywhere in the country without having to worry about receiving mail and mail forwarding
  • Virtual offices help in reducing large overhead costs especially those associated with maintenance, upkeep of equipment, utility bills, and lease cost among others.
  • These type of offices provide high flexibility to business owners and employees in terms of traveling/commuting
  • A virtual office ensures your home office enjoys privacy and anonymity where your customers, lawyer and business partners are concerned.
  • A virtual office helps in lowering overall payroll especially for hiring front office, administrative, receptionist, and other related staff. It is important to know that reputable providers like IncParadise provide virtual office mail forwarding services as well as basic services required by a physical office.

Virtual Office Service for Start-ups

If you are an entrepreneur or a start-up who is thinking of working from home or are currently working while traveling then the virtual office setup is just what you need. This type of office allows you to work from anywhere and yet at the same time reassures your clients about the high level of professionalism your business stands for.

Common Virtual Office Services

There are a wide range of services that you can benefit from when you opt for virtual offices. Although the services offered vary from one provider to another, there are some common services that most of the virtual office plans include. It is also important to understand that all these services have been created to ensure the basic functions of a business does not come to a halt. The most common services include:

Physical/Business Address

One of the greatest benefits to entrepreneurs and businesses is that virtual offices provide a physical or street address. This is very useful for postal purposes. It will help you take advantage of virtual office mail forwarding services and other related postal services. A business address will help you gain the respect and trust of your customers and business clients.

Mail Forwarding

A virtual office mail forwarding service is the second most important reason why businesses are opting for this type of work space. As a part of the services, all your important business and personal mail will be delivered to a centralized location or the physical address as chosen by you. Virtual offices can receive mail from all couriers and have the required staff to receive, sort, manage, and even scan mail. The mails received at the business address will be forwarded to you in accordance with a pre-agreed schedule of delivery.

Full Range Business Services

A start-up or new business has to fulfill a variety of functions in order to achieve sustainability. A business is not just about marketing and profitability but has to also focus on other key administrative areas. When you opt for a virtual office, you can benefit from the following:

  • Mail scanning service: One of the integral components of a virtual office mail forwarding service is mail scanning. Depending on the requirements of a business, their mail can be scanned and then forwarded. Once a mail is forwarded, it can then be shredded.
  • Conference room service: If your business requires following up with clients through business meetings then the conference room service will be beneficial.

Business Address and Mail Forwarding

Whether you are planning to establish a start-up or a small business, the brand image is as important as the business itself. Marketing plays a key role in building brand image but something as simple as a business address in a prominent location also plays an equally important role. A business address helps create trust and thus attracts clients. A virtual office does exactly that and much more!

In the last decade or so, virtual offices have gradually become popular amongst start-ups, digital nomads, and entrepreneurs. This is because a virtual office provides a business address, one that is an actual street address and not a P.O. Box. It is a known fact that a business address does speak a lot about any business and so your business should not be any different.

One important aspect of the virtual office mail forwarding service is mail scanning. This helps in scanning letters, so that the scan can be uploaded and sent to you. This will also help you to identify which mail is important and which needs to be shredded.

Check out our full range of business mail forwarding services!

Virtual Office Address and Mail Forwarding

The modern day offices are evolving constantly and there are more and more people opting for running their small businesses from home. A 2017 report by Fundera revealed that 3.7 million employees are working from home, which is 2.8% of the U.S. workforce. The same report also stated that the number of employers or businesses offering the work from home option to their employees has also grown by almost 40% since 2012. The 2012 Global Entrepreneurship Monitor report revealed that almost 69% of entrepreneurs in the USA start their business from home and a larger percentage of them continue to operate it after their business has been established successfully. A large number of such businesses and entrepreneurs are able to sustain their business because they have opted for a virtual office, which also handles all their mail forwarding requirements.

Why use a Virtual Office Address and Mail Forwarding

The virtual office is now being considered as an integral part of flexible workspaces. Entrepreneurs prefer virtual offices as it helps in reducing the overall cost of giving a business the required kickstart. These days, it is all about doing business “on the go” and hence there are many entrepreneurs who are either working from a remote location or working while traveling. This type of office set up creates a win-win situation for an entrepreneur because when you are traveling quite frequently, a virtual business address receives all your important mail.

Every business gets mail and this could be a highly crucial mail related to a project deadline or an agreement pertaining to a possible joint venture with a new client. You should receive your business mail as soon as it arrives irrespective of where you are based. This is where the virtual office mail forwarding service plays a key role. The virtual business address receives all your mail while the forwarding service takes care of sorting and managing your mail, scanning it, and forwarding.

IncParadise Virtual Office & Mail Forwarding Services in Nevada and Wyoming

We at IncParadise understand that the requirements of virtual offices are not just for a business address but it should be able to provide you with relevant business services like mail receipt and forwarding and specific administrative service. IncParadise provides a reliable and highly secure virtual office mail forwarding service in Nevada and Wyoming. Some of the top services you can benefit from include:

  • An actual street business address in Nevada and Wyoming
  • A signed office lease
  • A full service office that comprises of experienced staff who can handle virtual office mail forwarding service requirements
  • Our virtual office provides you with access to conference room or shared work area where you can arrange meetings with prospective clients
  • You can take advantage of our in-house mail forwarding app, which is available for Android and iOS devices. This mail forwarding app is highly useful for accessing a number of services including changing schedule of mail delivery and request for mail scanning.

Use Our Virtual Office and Mail Forwarding Services in Nevada!

Start Business in Nevada

Date: 01/13/2020 | Category: | Author: Martin Pouzar

START A BUSINESS IN NEVADA

An individual thinking of establishing a start-up has to make extensive planning regarding business operations. It is also important to identify which state is perfect for setting up a new business. One of the top 10 states with an excellent overall business climate is Nevada. Over the last decade, forming a small business in Nevada has increased tremendously as the Silver State has a pro-business law and infrastructure at the state, city, and county level.

An Entrepreneur’s Guide to Start a Business in Nevada

We understand that the requirements for each new start-up or entrepreneurship are different and so are the procedures to form a business in Nevada. Thus, we have created this guide in the form of a detailed Nevada business checklist that will be useful to every entrepreneur and business owner. The guide will take you through the advantages and benefits for an entrepreneur to conduct business planning, entrepreneurial training, networking events and to choose the best business structure. It will also provide guidance for registering a business, funding, and marketing it.

Why choose Nevada to start your business

Nevada is one of the few states that have a favorable tax climate, just perfect for a start-up or small business. There are several aspects of the economic and business environment that makes the Silver State such an attractive destination for entrepreneurs and business owners. If you are thinking of doing business in Nevada, it is important to know the many advantages that it offers. Some of the advantages are:

Low Cost of Living

The first thing that comes to mind when you think of Nevada is “Las Vegas!” although that is not the only attraction for businesses in this state. A new business in Nevada needs to consider the financial impact of operations including the cost of living. This low cost of living also opens the doors for businesses to hire talent from other states to work in Nevada.

Tax Laws and Benefits

Tax benefits is one of the top reasons driving business formation and if you register a business in Nevada, you won’t have to worry too much about taxes. Why? The state is considered by many as a strong tax shelter. For example, a limited liability company doesn’t have to pay any franchise tax or personal income tax. Similarly, different forms of businesses can enjoy different tax benefits.

Tech Revolution

It may be difficult to identify what is the best business to start in Nevada but one aspect you can be rest assured of is that it is the hub of a tech revolution! The tech story started with Tesla with their Gigafactory 1 in Reno and today, it is home to several tech startups. Big brand names like Apple have their businesses in Nevada, especially in the Reno Technology Park.

Steps to Start a Business in Nevada

The one thought that bothers most new entrepreneurs or start-ups is identifying the steps to start a business in Nevada. There are many aspects to consider that can drive a business to grow from a sapling stage (ideas) to becoming a huge tree (revenue generation). Let’s take a detailed perspective into the various stages of starting a business from scratch.

1. Planning

A business cannot succeed without proper planning and hence it should be an integral part of any Nevada business checklist. Business plans are like blueprints that provide a detail of how best to effectively operate a business based on what business objectives needs to be achieved. Some of the benefits of a strong business plan include:

  • Provide a focused road map to form a business in Nevada and target long-term growth and gains
  • Test overall viability of an entrepreneur’s objective and ideas
  • Assists with research and critical strategies focusing on complex short and long-term business issues
  • Provides an action plan related to making a business operational in the local, statewide, or global marketplace
  • Help in securing operating capital through bank loans or equity financing
  • Provide an insight into starting an online business in Nevada
  • Provide a strong business plan attracts angel investors or venture capitalists

Of course, if you are a first-time entrepreneur planning to start a business in Nevada then preparing a business plan can be quite confusing as there are so many things to consider. Some of the essential tools that you can use to create a thorough plan include:

  • Customizable Templates: A business plan will help you to decide the best business to start in Nevada. One of the ways of going about creating such a plan is to download a complete “Business Plan Template” or specific segments of the plan like “Marketing & Sales Template” or “Financial Projections Template”.
  • Innovative Apps: These are innovative applications meant for those who plan to start businesses in Nevada. The applications will help you create a “Business Model Canvas” (BMC) on your computer or laptop and can be shared with the entire team. The Business Model Canvas is basically a lean startup and strategic management template that provides a visual chart with different elements including infrastructure and finance. Some of the most popular business model canvas applications include Canvanizer 2.0, Strategyzer, etc.

The customized templates for business plans along with BMC applications make writing a business plan almost a walk in the park!

2. Entrepreneurial Training/Seminars/Workshops

Modern day entrepreneurs are considered to be the driving force of society and the economy of almost every nation and a start-up business in Nevada needs the strong leadership of an entrepreneur. Why Entrepreneurial Development Programs are Important?

The success of successful businesses in Nevada lies in strong entrepreneurship skills. A promising business owner need not only enhance their existing skills but also acquire other relevant skills and abilities to spearhead their business. Entrepreneurship Development Programs (EDP) have been created solely for this purpose, which is to help business owners develop their entrepreneurial abilities. There are times when start-up owners may possess such skills related to doing business in Nevada and EDP can help them with polishing and incubation of those skills. Some of the important aspects of EDP include:

  • Provide insight into how best to form a business in Nevada
  • How to move out of the scope of the existing market
  • How best to improve existing or new services, products, or technology
  • Create a social change
  • Create job opportunities or increase employment
  • Increase innovation opportunities by promoting research and development
  • Ensure optimum utilization of available resources to promote economic growth
  • Enhance overall standard of living

This brings us to the question of whether there are any entrepreneurial development programs available for entrepreneurs planning to register businesses in Nevada. There are training programs available and the important programs include:

  • NxLeveL for Entrepreneurs: This is a multi- week entrepreneurial development program that has been created to provide information and guidance on how you can plan for business success. Some of the aspects of setting up a business in Nevada that have been incorporated by the program include business strategies, goal-setting, management techniques, and financial accountability.
  • Economic Development Authority of Western Nevada (EDAWN): This is a program that is focused on empowering entrepreneurs through inspiration towards starting an online business in Nevada, experiential learning, connectivity as well as accolades.

Apart from the above program, some of the top colleges and universities in Nevada also offer entrepreneurship programs like UNLV Center for Entrepreneurship (CFE) and University of Nevada, Reno – Office of Enterprise & Innovation. get a quick Introduction to entrepreneurial development.

3. Attend Networking Events

If you are an entrepreneur planning to form Nevada business then networking will be critical towards determining the success of your business. A research “Informal Innovation: Entrepreneurship and Informal Communities” revealed that almost 78% of startups owe business success to networking. This is one of the most important aspects of any Nevada business checklist – every entrepreneur should attend networking events frequently.

Networking has always been the key to the overall business and revenue growth of start-ups. How do you actually network or how can you increase existing networks? The solution is as simple as attending networking events that focus on businesses in Nevada. These events are attended by successful entrepreneurs as well as future business owners. You can start by becoming a part of networking groups prior to or after you register your business name in Nevada.

Some of the ways that networking events can help you or your business are:

  • New Contacts: A networking event is a platform where you will be able to meet potential clients and also generate referrals.
  • Identify New Opportunities: One of the highlights of a networking event is that it will help you identify opportunities for future partnerships and expansion. It will also help you identify new markets for services and products if you are planning to form a business in Nevada.
  • Business Visibility: The platform will help you create high visibility for a start-up or new business. Networking events like business luncheons can raise your business and personal profile.
  • Knowledge Platform: One of the benefits that you can enjoy is sharing of ideas and receiving knowledge from other business owners or entrepreneurs. This knowledge and experience of others can assist in doing business in Nevada.

It is important to know that you can participate in any of the networking programs before and after you register your business in Nevada. You can also sign-up for such programs online and participate at a physical location. The networking programs are an important catalyst of starting an online business in Nevada. You can check out the following:

  • Small Biz NV: They provide a detailed calendar of networking and start-up business programs that you can check here. The programs have been initiated by the Department of Business and Industry, State of Nevada. This is an essential program in any Nevada business checklist.
  • Startup Weekend Events: The programs are particularly focused on Techstars Startups and they are held over weekends. The program provides a platform to connect with new customers and helps sharing experience. The program calendar is available here and it takes place in Reno or Elko.

4. Choose a Business Structure

One of the most important requirements to start a business in Nevada is choosing the correct business structure. Each type or form of business has its own benefit, laws, and registration requirements. In fact, there are separate laws and forms to register a business name in Nevada. The different types of business structures you can form in Nevada include:

  • Limited Liability Company (LLC): A Limited Liability Company is considered to be a hybrid entity, which combines the benefits of a partnership and a corporation. If you want to register a business in Nevada as an LLC then it will be governed by Chapter 86 of the 2015 Nevada Revised Statutes. You can form a domestic, foreign, and a professional Limited-Liability Company in the state. You will be required to register your business name in Nevada prior to filing formation documents.
  • Corporation: This type of business entity is considered to be created by an “artificial person” and is operated with the permission of the state of incorporation. The artificial person is only on paper and it should have at least one stockholder. If you form a business in Nevada and register it as a Corporation then it will be governed by Chapter 78 of the 2015 Nevada Revised Statutes. The type of tax treatment will help you decide the best business to start in Nevada.
  • Sole Proprietorship: A Sole Proprietorship is a type of business that any person can form and it is intended to perform a service or engage in a trade that results in profit. An entertainer, a freelance photographer, or an independent contractor are examples of a proprietorship business. It is normally a one man show. Although sole proprietorships are not required to file formation documents with the Secretary of State; you will require a State Business License to start a business in Nevada.
  • Partnership: A partnership business structure involves two or more owners and is governed by Chapter 87 of the 2015 Nevada Revised Statutes. You can register your business in Nevada in the form of different types of partnership like a Limited Partnership (LP), Limited-Liability Partnership (LLP), and Limited-Liability Limited Partnership (LLLP). You will be required to register the business name in Nevada and submit the Initial/Annual List of General Partners with the Secretary of State. Partnership businesses can be domestic or foreign entities.

Form the top Nevada Business Structures

5. Naming Your Nevada Business

An integral aspect of forming a new business in Nevada is name registration. Although many people think that they should not devote much time to choosing a business name, that should not be the case. Why? There is a process to register your business name in Nevada and as an entrepreneur, you should ensure all aspects of the naming process is considered. The following tips will help you choose the right business name:

  • You need to ensure that your chosen name is distinguishable from any other name existing on the records of the Secretary of State
  • Business names will have different criteria according to the chosen structure of business in Nevada e.g., the name of a limited-liability company must contain the words “Limited-Liability Company,” or abbreviations like L.L.C., and LLC among others.
  • The business name should provide an idea of your business activity e.g., if you plan on starting an online business in Nevada then your business name can be “Lime Kart LLC”.
  • The chosen name to form Nevada business should be easy to pronounce and should sound positive
  • The name should be available for “domain name” so that you can target your prospective customers quickly

In order to register your business in Nevada, you need to find an appropriate business name. There are several online resources that can assist you with various aspects of a business name. For instance:

  • Business Name Generators: These are software or online applications that you can use to find a suitable name. Some of the popular name generators include Novanym, Namelix, Anadea, and Wordlab among others.
  • Business Name Ideas: You can find business names based on type of product, service, or industry. One of the websites offering ideas to find an appropriate name for your business in Nevada is Squadhelp.
  • Domain Name: You can book a domain name before you register your business name in Nevada so that you are one step ahead of the competition. Some domain operators you can use include Lean Domain Search, godaddy, and hostgator among others.

6. Choose Your Business Location

The location to form a Nevada business is critical to the operation and growth of the entity. In fact, the best business to start in Nevada is also dependent on the location. Fr example, those focusing on export should be located closer to a major transportation hub (Las Vegas) or a Foreign Trade Zone (Clark County). Similarly, there are several other factors to be taken into consideration like:

  • Zoning laws
  • Property Values
  • Reduced excise taxes
  • Business Insurance Rates
  • Industrial park or center
  • Minimum Wage laws
  • Opportunity zones
  • Enterprise zones
  • Government licenses and fees
  • State and Local Taxes
  • State and Local Business Incentives

If you are searching for a location to register your business in Nevada then there are sixteen counties and 1 independent city (Carson City) to choose from. The counties are:

  • Churchill County
  • Clark County
  • Douglas County
  • Elko County
  • Esmeralda County
  • Eureka County
  • Humboldt County
  • Lander County
  • Lincoln County
  • Lyon County
  • Mineral County
  • Nye County
  • Pershing County
  • Storey County
  • Washoe County
  • White Pine County

It is important to understand that you can start a business in Nevada in each of the above counties but the jurisdiction and licensing requirements will be different for each county. The Code, Ordinances, laws related to regulated businesses and administrative services will vary from one county to another.

7. Register Your Business with the NV SOS

Once you have chosen the right business structure, business name, and location for your business in Nevada, it is time to take the first step towards establishing your business. The best way to doing business in Nevada is by registering it with the Secretary of State (SOS).

Some of the important resources that will assist you to register your business in Nevada with ease include:

  • Tax: The Nevada Department of Taxation provides useful resources regarding EIN and existing tax brackets for starting an online business in Nevada.
  • Statutes and Regulations: These can help you get information and understand laws pertaining to your business structure. Click Here for Business Laws.
  • Restricted Word List: This is a resource that will help you register your business name in Nevada as usage of certain words are restricted.

Form your New Nevada Start-up with Incparadise!

8. Get Your EIN

EIN Number or the Employer Identification Number is a Tax ID number that is issued by the IRS to those doing business in Nevada. It is similar to a social security number except that it is applicable only to businesses. You can apply for an EIN only if you are planning to form a business in Nevada. You can apply for it with the IRS through mail, fax, and online. Some of the important resources that will help you with obtaining the Nevada Tax ID are:

  • Department of Taxation FAQs: This is a page focused on helping you obtain EIN to start a business in Nevada. You can download or read through their EIN guide.
  • Nevada Tax: If you are unaware of the various applicable taxes for starting an online business in Nevada then visit the Nevada Tax Center. It provides an insight into business taxes and how to manage business tax filings.

We can file EIN on your behalf!

9. Open a Business Bank Account

An important financial aspect of any business is working capital and a bank account is what keeps the capital safe. A bank account is required if you plan to register your business in Nevada. It is easier to open a bank account once you have your Employer Identification Number (EIN).

Opening a bank account has its own benefits and hence is an important part of any Nevada business checklist. Some of the benefits are:

  • It will make recordkeeping of business finances easier
  • It will help demarcate business from personal finances
  • You will be able to calculate your taxes properly and make necessary payment
  • Helps in disbursement of salary
  • Helps in tracking business expenses
  • Helps in audit prevention
  • It adds credibility to any business in Nevada

In order to learn about how you can open a bank account of your business in Nevada, read our Bank Account Opening Guide.

10. Get a Nevada State Business License

When you start a business in Nevada there are several requirements that the state requires you to fulfill and one such requirement is that of a business license. Every entrepreneur starting a new business needs to know whether their business requires a license, permit, or both. This is an integral part of your Nevada business checklist and you can apply for one along with your business formation documents. Here are some facts:

  • A business license or permit can be issued by the Secretary of State or County Clerk
  • You may require a single or multiple licenses depending on business activity or industry
  • Apart from the state business license, you may also require city or county specific licenses

In order to learn about how you can apply for a business license, check our Nevada Business License information page.

11. Register with Nevada Department of Taxation

Once you register a business in Nevada the next step is to register with the Nevada Department of Taxation. You can register online and there are no filing fees for same. This registration will help you file your returns annually. You may have to register for the following:

  • Sales tax: If you are starting an online business in Nevada that will be concentrating on selling or transferring of tangible personal property then you will be required to collect sales tax from the buyers. This tax has to be filed with the Nevada Department of Taxation.
  • Other taxes: Once you register your business in Nevada, depending on the type of business or business activity or revenue generated, you may have to file different taxes like the Commerce Tax and Modified Business Tax.

If you are unsure of how to file taxes or the type of tax you would have to file then the following resources will be useful:

Formation of a Nevada start-up has never been this easy!

Business Entity Conversion in Nevada

Date: | Category: | Author: Martin Pouzar

BUSINESS ENTITY CONVERSION IN NEVADA

There are different types of businesses that can be formed in the state of Nevada and each form of business has its own advantages as well as tax benefits. Now, the question if you want to change the type of business from say, an LLC to Corporation, is such an entity conversion Nevada possible?

What is Business Entity Conversion in Nevada?

An entity conversion in Nevada is a process that allows a specific form of business entity to change its jurisdiction or state of formation or incorporation as well as the type of entity it currently is. Let’s look at an example to understand what conversion is:

  • If the existing business entity is a Nevada LLC and you want to convert it into a corporation then that is possible in this state.
  • If the existing business entity is a foreign LLC or a corporation and you want to change it to a Nevada LLC or corporation then entity conversion in Nevada for a foreign entity will also be possible if the jurisdiction in the state of formation has a reciprocal statute that allows the conversion process to take place.

It is important to know that if you convert LLC to corporation in Nevada or vice versa then you are not required to dissolve the existing entity. Instead, this conversion to another form of business entity will be seen and accepted as a continuation of the entity undergoing conversion.

Types of conversion

The merger, conversion, exchanges and domestication of business entities in the state of Nevada is governed by Chapter 92A of the 2017 Nevada Revised Statutes. Entity conversion Nevada can be categorized under three specific types.

Statutory Conversion

This is a new and streamlined process of conversion available to business entities in Nevada. Statutory conversion in Nevada allows you to convert your existing business entity to a new form of business entity like LLC to corporation or vice versa. The rules for statutory conversion vary from one state to another.

Statutory Merger

The process of statutory merger to convert corp to an LLC in Nevada or vice versa is more complicated as compared to the process of statutory conversion. This method is opted for by foreign business entities where the original jurisdiction or state of entity formation does not allow statutory conversions.

Non-statutory Conversion

This is considered to be one of the most expensive and complicated process of conversion. If you were to convert an LLC to a corporation in Nevada using this process then you will have to form a new business entity first and then transfer the assets and liabilities of your existing company into the new company.

Converting Nevada Corporation to Nevada LLC

If you are planning to convert a corporation to an LLC in Nevada, what is the process? In order to help you understand the process, we have created a brief reference guide of this conversion. In the state of Nevada, a statutory conversion is governed by Nevada Revised Statutes § 92A.105 (2017). According to the statutes, one domestic business entity like a Nevada Corporation can convert into a different type of domestic entity like an LLC if a plan of conversion is approved.

The steps to convert a corporation to an LLC in Nevada are:

  1. Create a plan of conversion in writing
  2. The plan of conversion must contain the following information:
    • Name of the existing business entity (corporation) and the proposed name for the converted entity (LLC)
    • Jurisdiction of the law that governs the existing business entity (corporation)
    • Jurisdiction of the law that will govern the converted entity (LLC)
    • In order to convert a corporation to an LLC in Nevada, all terms and conditions pertaining to the conversion needs to be provided
    • Manner and basis, if there are any, of converting the owner’s interest in the existing entity into the owner’s interests and other securities in the converted entity
    • A full text of the charter documents of the converted entity or Limited Liability Company
  3. The directors of the said corporation need to approve this conversion to a limited-liability company
  4. The directors have to recommend the approval of this entity conversion in Nevada as well as the plan to the respective stockholders
  5. You need to earn a majority of votes from stockholders approving this conversion
  6. Upon approval of the plan, you will be required to file “articles of conversion” with the Nevada Secretary of state pursuant to NV Rev Stat § 92A.205 (2017).
  7. The plan of conversion should be attached with the articles and submitted along with the filing fee.
  8. You will also have to submit Articles of Organization to convert corp to an LLC in Nevada.

Once the conversion is approved by the state, you will be required to complete documentation necessary for forming the Limited Liability Company like submitted initial list, operating agreement etc.

NOTE: You will require social security number (SSN) or employer identification number (EIN) for filing all federal income tax for Nevada LLC.

Converting Nevada LLC to S Corporation

The most common reason to convert an LLC to an S Corporation is because of the tax benefits. If you are an owner of an LLC and are wondering how to convert an LLC to a corporation in Nevada then here is a brief reference guide that will provide you with an insight into the process.

The steps to convert an LLC into S Corporation in Nevada are:

  1. Create a plan of conversion in writing, which should include the following:
    • Name of the existing business entity (corporation) and the proposed name for the converted entity (LLC)
    • Jurisdiction of the law that governs the existing business entity (corporation)
    • Jurisdiction of the law that will govern the converted entity (LLC)
    • In order to convert a corporation to an LLC in Nevada, all terms and conditions pertaining to the conversion needs to be provided
    • Manner and basis, if there are any, of converting the owner’s interest in the existing entity into the owner’s interests and other securities in the converted entity
    • A full text of the charter documents of the converted entity or Limited Liability Company
  2. The members of the existing LLC need to approve the conversion to an S Corporation
  3. There has to be a conversion vote. According to Nevada laws, a majority of members or owners of the LLC have to agree to the business entity conversion in Nevada
  4. Upon approval of the plan, you will be required to file “articles of conversion” with the Nevada Secretary of state pursuant to NV Rev Stat § 92A.205 (2017).
  5. Upon approval of the plan, you will be required to file “articles of conversion” with the Nevada Secretary of state pursuant to NV Rev Stat § 92A.205 (2017).
  6. The plan of conversion should be attached with the articles and submitted along with the filing fee

NOTE: After you convert LLC to corp in Nevada, it is important to adjust the newly converted entity’s tax designation by the IRS.

Moving your business from another state to Nevada

Due to attractive business incentives and no corporate or personal tax, many entrepreneurs and small businesses like to locate or establish their business in Nevada. The question is how do you move your existing business to Nevada especially if your current jurisdiction doesn’t allow entity conversion in Nevada?

According to the Nevada Revised Statutes, there are three options for moving your business from another state and they are:

  • Dissolve home business entity and establish a new business: You can move your business instead of entity conversion Nevada by simply dissolving your existing business in the state of formation and apply for a new business. Example: If you have an LLC or Corporation in New York then you will need to dissolve it and then apply for a new business in Nevada.
  • Domesticate: If the current state or jurisdiction doesn’t allow entity conversion in Nevada then domestication would be the best possible option. Domestication is another statutory process through which a foreign business entity is allowed to become a domestic business entity in Nevada.
  • Foreign Registration: You can also move your business to Nevada by registering it as a foreign entity. You will be required to apply for Qualification to do business in Nevada.

NEED HELP MOVING YOUR BUSINESS TO NEVADA?

Nevada Foreign Corporation

Date: | Category: | Author: Martin Pouzar

NEVADA FOREIGN CORPORATION

Nevada is a land of exciting business opportunities and with no corporate and personal income tax, it presents just the right environment for a small business. This is one of the many reasons why businesses based in any other state want to explore the Silver State for growth opportunities. If your business has been registered in another state, can you register in Nevada? Yes, it is possible by registering as a Nevada foreign corporation.

What is Foreign Corporation in Nevada?

A foreign corporation is a business entity that conducts its business in a jurisdiction or state other than where it had been originally incorporated. A Nevada foreign corporation will be a business entity that conducts its business in any other state except Nevada. The foreign corporation can be an existing corporation in any other state or any other type of corporate entity like a limited liability company (LLC). Such a business entity can be a domestic corporation incorporated in another state or corporation registered outside the USA. Let’s look at an example:

A business “ANBC Inc.,” was formed in 2010 in California and is looking to expand. If the said entity wants to conduct its business in Nevada then they will have to register with the state first. It is important to know that different states have different laws and requirements for registering a foreign business entity.

How to File a Foreign Corporation in Nevada

If you already have an established business corporation in another state but want to establish it in Nevada then it needs to be registered as a foreign corporation. The formation of foreign corporations in Nevada is governed by Chapter 80 of the 2017 Nevada Revised Statutes. You will be required to file a “Certificate of Authority” with the Secretary of State pursuant to NV Rev Stat § 80.010 (2017).

The process of forming a Nevada foreign corporation is not difficult but you have to be careful and provide specific information required by the office of the Secretary of State. In order to help you identify the process for filing a foreign corporation in Nevada, we have created a step-by-step approach.

Step#1

The first step is to download the “Qualification to do Business in Nevada” form available with the Secretary of State. You can fill the information required and process to be followed as mentioned in the following steps.

Alternatively, you can save time by ordering it through us! All you have to do is just provide the necessary information regarding your business and we will take care of the rest as your registered agent in Nevada. You can also be your own registered agent and order it directly from incparadise. Through this process, you will not be required to follow any of the steps mentioned below and your application will be submitted on the same day.

Step#2

You will have to provide specific information in the certificate of authority or qualification to do business in Nevada document pursuant to NV Rev Stat § 80.010 (2017). The information required includes:

  • Name of the foreign corporation
  • Original jurisdiction or state of incorporation
  • A declaration or letter of good standing of the corporation from the state of jurisdiction or incorporation
  • Details pertaining to being a registered agent in Nevada pursuant to NRS 77.310
  • If you are registering for Profit Corporation then information pertaining authorized stock including number of shares with par value has to be provided
  • The purposes of the said corporation
  • Name, title and signature of the officer preparing the certificate of authority or qualification to do business in Nevada
  • Signature of the Nevada registered agent along with the date signed on

Step#3

Once you have completed the certificate of authority or qualification to do business in Nevada application, you will have to fill out the customer order instructions. This document is used for indicating the payment method you have chosen to submit the required fee. You will have to provide the following information in the customer order instructions:

  • The type of processing requested by you – regular or expedited
  • Name of the business entity or corporation
  • A return address
  • Contact name
  • Phone number
  • Return delivery instructions like email, fax, etc
  • The total filing fee
  • Method of payment

Step#4

The final step for registering a Nevada foreign corporation is to make the payment. The filing fee for stock corporations is dependent on the total number of authorized shares.

What does it cost to register a foreign corporation in Nevada?

The cost of registering a Nevada foreign corporation can vary according to the total number of authorized shares that the entity has. The fee based on shares is as follows:

  • If you have shares worth $75,000 or less, the fee is $75
  • If the authorized shares are over $75,000 and less than $200,000 – Fee is $175
  • If the authorized shares are over $200,000 and less than $500,000 – Fee is $275
  • If the authorized shares are over $500,000 and less than $1,000,000 – Fee is $375
  • If the authorized shares are over $1,000,000 then the fee for the first $1,000,000 will be $375
  • For each additional $500,000 worth authorized shares or any fraction thereof will have a fee of $275
  • The Maximum fee applicable will not exceed $35,000

How long does it take for the state to process the Nevada Certificate of Authority?

The normal time it takes to process the certificate of authority or qualification to do business in Nevada application is around 30 business days. There is always the option to opt for expedited processing for which there will be an additional fee. Either option that is regular and expedited processing is available if you hire IncParadise as your Nevada resident agent.

Will I need a Nevada registered agent for Nevada Foreign Corporation?

The corporate laws in most states in the U.S including Nevada, requires each and every business entity formed or registered in the state, to designate as well as maintain a commercial or registered agent in that state’s public records. According to NRS 77.310, NRS 77.390 and NV Rev Stat § 80.060 (2017) of the Nevada Revised Statutes, a Nevada foreign corporation has to designate as well as maintain a registered agent in Nevada to enable service of process.

Will I need a Nevada annual report for my corporation?

An annual report is also known as an annual list in the state of Nevada. Each foreign corporation conducting business in this State has to submit an annual list with the Secretary of State pursuant to NV Rev Stat § 80.110 (2017). This list has to be filed annually on or before the last day of the anniversary month or the month in which the qualification to do business application or Certificate of Authority was filed. So, if you had filed for qualification in December 2018 then you will have to file the annual list by December 31, 2019.

The annual list or report should contain the names and addresses, of the entity’s secretary, president, treasurer, or all of its directors. The annual list for a Nevada foreign corporation has to be signed by an officer of the corporation or any person authorized by the entity to sign the report.

How IncParadise helps you with Nevada Foreign Corporation

Sometimes, filing of paperwork and the entire process of qualification of a Nevada foreign corporation can be overwhelming. It is important to know that incorrect information or lack of details in the Nevada foreign incorporation application can lead to the Secretary of State rejecting the documents. This is where IncParadise can provide its expertise and a team of experienced professionals to ensure you are able to submit your incorporation documents on time and it contains all the information as required.

If you hire IncParadise as the registered agent for your Nevada foreign corporation then your business can benefit from the following services:

  • Service of process i.e., accepting any legal notices from the state on behalf of your foreign corporation including summons and subpoenas
  • Help your foreign corporation to file their certificate of authority or qualification to do business in Nevada application
  • Provide information on how best you can form a Nevada foreign corporation and what information and documentation is required to be submitted with the state
  • You can benefit from our highly secure dashboard that will help you to submit your annual report online
  • You will also get annual report due date alerts so that the report is submitting on time thus avoiding penalties
  • Provide additional services like filing of annual report, getting EIN or Tax ID, application for a business license etc.

EXPAND YOUR BUSINESS IN NEVADA WITH FOREIGN QUALIFICATION!

Nevada Business Tax

Date: | Category: | Author: Martin Pouzar

NEVADA BUSINESS TAX
– ALL YOU NEED TO KNOW

Whether you are an entrepreneur planning a start-up in Nevada or an individual with a medium sized business idea; the state is a tax haven for all types of businesses. Does this mean you will never have to pay any type of Nevada business tax? Although there is no corporate or personal income tax, there are specific taxes that may be applicable depending on the type of business and revenue generated.

Informative Guide to Nevada Business Taxes

Most states in the US have a tax structure under which business income derived from the activities in the state are taxed. How a Nevada commerce tax will be levied is normally dependent on the legal form of the business.

It is important to know that corporations in most states are subjected to a corporate income tax and pass-through entities like limited liability companies (LLCs), S corporations, sole proprietorships, and partnerships are subjected to a personal income tax or some form of state tax on personal income. The tax rate for corporate and personal income can vary from one state to another. Currently, businesses are not required to pay Nevada business tax or corporate and personal income tax and this is applicable for 5 other states, namely Texas, South Dakota, Ohio, Washington, and Wyoming.

However, Nevada does have a form of gross receipts tax to be paid by corporations registered in the state. In order to ascertain the type of Nevada business tax you may have to file in the state, it is important to understand that taxes exist in the form of federal, state, and local tax.

Taxes for Nevada LLC

A Nevada limited liability company is considered to be a pass-through tax entity. An LLC can choose the type of Nevada business tax treatment from the following options:

  • A Nevada limited-liability company can elect to be taxed as an S Corporation. In such a scenario, the LLC will be required to file Form 8832 and Form 2553 for Nevada business tax. What is Form 8832 and Form 2553? The IRS Form 8832 is known as the “Entity Classification Election” form. If an LLC doesn’t file the form then it will be provided a default tax classification status and this can lead to paying higher taxes. The Form 2553 is required for confirming that the LLC wants to be taxed as an S Corporation.
  • A Nevada limited-liability company can also elect to be taxed as a C Corporation. It will be required to file Form 8832 for the same. The LLC will also be required to file a form 1120 for corporate tax return and pay Nevada commerce tax on its profits at the corporate tax rate. If the limited-liability company has profits distributed as dividends to the LLC owners then those dividends will be taxed too.

Most often than not, in order to avoid the double taxation of a C Corporation, a Limited Liability Company opts to be taxed just like an S Corporation. It is important to know that if a Nevada LLC chooses the above Nevada business tax treatment then they will not be able to change their tax treatment for a period of five years.

Federal Taxes for Nevada LLC

When it comes to federal taxes, a Nevada Limited Liability Company needs to consider several aspects so that it is not taxed incorrectly. In reality, the Internal Revenue Service (IRS) does not recognize a limited-liability company as a taxable entity but it is also a standard for the IRS to tax an LLC based on the number of owners or members in the company. The Nevada business tax for a limited-liability company can be that of a sole proprietorship if there is a single member or owner and that of a partnership if there is more than one member.

  • Single Member LLC: A single member LLC is also known as a disregarded entity. This simply means that an LLC will retain its protection from liability clause but at the same time the business will be treated like a sole proprietorship and the activities of the member or business will reflect on the federal tax return. Apart from this, all items pertaining to Nevada business tax like income, gain, deduction, credit and loss have to be reported on Schedule C, E or F of the said individual or member’s personal income tax return.
  • Multi-Member LLC: If the LLC has multiple members, what would be the Nevada commerce tax? Partnerships are considered to be flow-through business entities when it comes to federal tax. The partnership will not be subject to taxes but individual items like income, gain, deduction, credit and loss will flow through to the individual member’s or partners personal tax return. The member’s will be taxed at the personal income tax rates. The LLC would be required to file a Form 1065 – Return of Partnership Income and also report income and loss in Form 1040 – Individual Income Tax Return.

NOTE: You will require social security number (SSN) or employer identification number (EIN) for filing all federal income tax for Nevada LLC.

Modified Business Tax

MBT or Modified Business Tax is a type of Nevada commerce tax that is applicable to two types of categories and they are:

General Business

General business is considered as any employer who will be required to pay a contribution to the Department of Employee Training and Rehabilitation/Employment Security Division pursuant to NRS 612.535, in any calendar quarter. Businesses excluded in this category include Indian tribes, nonprofit organizations, financial institutions, and political subdivisions. The Nevada business tax as defined for the general business category is pursuant to NV Rev Stat § 363B (2017).

The tax rate is 1.475% on wages. This is after the deduction of any health benefits paid by the business or employer. One of the salient aspects is that the first $50,000 of gross wages will not taxable.

The Nevada business tax returns are normally due by the last day of the month following the calendar quarter in which the limited-liability company is required to pay the Unemployment Compensation pursuant to NRS 363B.110. It is important to note that there is a late filing penalty of 10% pursuant to NRS 360.417 and the interest will be calculated at .75% per month on the entities unpaid tax balance.

Financial Institutions and Mining

A Financial institution from the perspective of the MBT category is an entity that is required to pay a contribution pursuant to NRS 612.535 for any calendar quarter towards any type of business activity of the said institution. Mining under Modified Business tax category is pursuant to NV Rev Stat § 363A.030 (2017) and is an individual subjected to the Nevada business tax on the net proceeds of minerals in accordance with the provisions of NRS 362.100 to 362.240. Businesses excluded in this category include Indian tribes, nonprofit organizations, credit unions pursuant to NRS 678, and political subdivisions.

The Nevada business tax rate for financial institutions is 2% on the gross wages including financial institutions and net proceeds of minerals entities. This is after the deduction of any employee health care benefits that have been paid by the business or employer.

It is important to note that there is a late filing penalty of 10% pursuant to NRS 363A.130 and the interest will be calculated at .75% per month on the entities unpaid tax balance.

Commerce Tax

Nevada commerce tax is a type of business tax applicable on the privilege of engaging in business in the state. The term “engaging in business” stands for conducting, commencing or continuing a business. The term also takes into account business activities like exercising franchise or corporate powers as well as liquidation of a business entity.

The Nevada commerce tax return has to be filed by any business entity whose gross revenue within a taxable year is more than $4,000,000. A business would be taxed irrespective of the type of entity and hence a limited-liability company (LLC), limited-liability partnership, C- or S-corporation, sole proprietorship, and business or professional association will be required to file the return.

There are certain entities that are exempted from Nevada commerce tax and the list of such entities is available with the Nevada Department of Taxation.

Payroll Taxes

Nevada is one of the few states that do not have personal income tax. The types of Nevada commerce tax that businesses normally have to pay include modified business tax (MBT); employer paid state unemployment tax, and Nevada Bond Factor Tax also known as new employer tax. Payroll tax imposition in Nevada is governed by NV Rev Stat § 363A.130 (2017).

Payroll tax is a type of excise tax that is levied on each employer in Nevada. The rate of this type of Nevada business tax is different for general business category and for financial institutions and mining.

General Business

Imposition of excise tax at the rate of 1.475% of the wages paid by an employer. This tax is paid by the employer during a calendar quarter on amounts that exceed $50,000 and this is pursuant to NV Rev Stat § 363B.110 (2015). There is an allowable credit of 50% of the amount of Nevada commerce tax paid by business entities or employers in the preceding taxable year.

Financial Institutions and Mining

Imposition of excise tax at the rate of 2% of the wages paid by an employer pursuant to NV Rev Stat § 363A.130 (2017). There is an allowable credit of 50% of the amount of Nevada business tax paid by business entities or employers in the preceding taxable year.

A NEVADA BUSINESS ENTITY ENJOYS SEVERAL TAX BENEFITS!