Annual Requirements for Nevada Corporation
Every business formed or incorporated in the state of Nevada have certain annual requirements that ensure businesses can enjoy a good standing status in the state.
If you are planning to incorporate in Nevada or have already formed a business corporation then in order to ensure your business remains operational, you will be required to prepare and file specific documents annually. As a business corporation, you will be required to file Nevada annual report also known as the Annual List pursuant to NRS 78.150 (2010). Another annual requirement is the filing of business license renewal.
A business corporation is required to file the Nevada annual report on or before the last day of the anniversary month of incorporation. The fee for filing of the Annual List is $150. However, the annual list fee for business corporations can vary according to the total number of shares mentioned in the articles of incorporation.
Example: The fee is $150 for shares of $75,000 or less but if the shares are over $1,000,000 then the fee is $400.
The Nevada annual report or the Annual List is a document that contains information regarding the business as well as its activities through the previous year. According to Nevada Revised Statutes § 78.150 (2010), the annual list contains:
- The name of your business corporation
- The names and titles of all president, secretary and treasurer
- The addresses of each of the president, secretary and treasurer
Note: If a business corporation is unable to file within the due date then they will be charged a late fee of $175. The entity may even lose its ‘good standing’ status in Nevada.
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Nevada State Business License Renewal
Although, Nevada business license fee is $500 for initial filings as well as annual renewals; you should check with respective state departments for exact fee amount for permits. The fee will be different for different types of businesses like the fee for business permit for a 40-seater food establishment is $200 but for a bed & breakfast facility, it will be $166. You may also require special permits from other local authorities like Building, Health, Police, or Fire Departments before making your business operational.
Note: If any business entity fails to file their annual Nevada business license renewal fee as required by the due date then there will be a penalty of $100 apart from the annual fee.
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