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NEVADA CERTIFICATE OF GOOD STANDING OR STATUS
If you are planning to establish a new business in the state of Nevada then there are several factors that will play a key role in ensuring that your business is able to take advantage of all the benefits and financial incentives the state has to offer. One of the key factors is good business status in the state. How can you achieve this status? This is possible through a Nevada certificate of good standing!
What is Nevada Certificate of Good Standing?
The Nevada certificate of good standing is a document that certifies that your business corporation or limited liability company exists legally and that the business entity is up to date when it comes to submitting different business documents, fees, and annual reports with the Secretary of State. This certificate is required by both domestic and foreign corporations, LLC, LLLP’s etc. In some states, it is also known as the certificate of existence or certificate of status.
It is important to understand that the certificate of good standing is not a business license but a form of implying that your Nevada business status is active and not revoked or forfeited. This certificate also comes with an expiration date and has to be renewed normally during registration of the business entity, which could be the initial date of registration or a date specified by the Secretary of State. Normally, this certificate has to be renewed annually.
It is also important to note that according to 2010 Nevada Code for foreign corporations (NRS 80.010) and foreign LLC (NRS 86.544), a Nevada certificate of good standing is required in order to transact business in the state.
How to get a certificate of good standing in nevada?
In order to ensure that a domestic or foreign corporation or LLC enjoys a good Nevada business status you will be required to apply for a certificate of good standing in the state. What is the process? How can you apply for the certificate? We have created a step by step approach towards applying for the good standing certificate.
1. Type of Business
The first step is to identify what type of business you are planning to register. For example, is it a corporation, an LLC, an LLLP, or a sole proprietorship. You will also have to specify if it is a domestic or foreign business entity. This will ensure you are able to make a request for the appropriate certificate for the specific business type.
2. Information
You have to provide information specified by the Secretary of State or Nevada Statutes in your order request for a Nevada certificate of good standing. The following information needs to be provided by a business entity applying for this certificate:
- Name of the business entity as filed in the articles or certificate of registration
- Date of formation or registration of the business
- State of formation, which in this case would be Nevada
- Physical address of the business entity
- The name of the Registered agent and their address
- Federal tax identification number
3. Order Request
In order to ensure a good Nevada business status, you can order or file the certificate of good standing with the office of the Nevada Secretary of State. It can be done in the following ways:
- By Mail: You can request for a certificate through mail. You will be required to mail a letter mentioning the name of the business entity along with a fee of $50 through check, credit card authorization, or money order payable to the “Secretary of State”. It has to be mailed to the Secretary of State Barbara K. Cegavske, 202 North Carson Street, Carson City, Nevada 89701-4201.
- By Email: You can also send the request for a certificate of good standing along with your credit card information to copies@sos.nv.gov. You will have to provide specific information on the order request including name of the business entity, credit card payment form or authorization, a daytime phone number, and return address information.
- By Fax: A request for Nevada certificate of good standing can also be made through fax although this is applicable to expedited orders only. You will also have to fax the request along with credit card information to 775-684-5645. Note: There will be an extra fee for expedited requests.
- Online: One of the fastest ways to receive a certificate of good standing in the state of Nevada is by applying Online. We at IncParadise, offer an online request or order option for businesses in the state so that it can be processed as early as possible.
Order Your Certificate of Good Standing Today!
Why do I need a Certificate of Good Standing in Nevada?
A Nevada certificate of good standing is an important document for most business entities registered in the state. It is issued by a state agency and in Nevada; it is issued by the Secretary of State. The importance of this document is that it certifies that a business entity is legally registered within the state of Nevada and is authorized to do business in the state. The question is – why would you require this certificate?
There are several reasons why a certificate of good standing is required and some of them are:
- A certificate of good standing shows the Nevada business status. It simply means that if your business has submitted all documents pertaining to the business and met all annual requirements including requirements prescribed in NRS 78.152 or NRS 86.274 then the status of your business will be “active”. If you are unable to or fail to meet the requirements then the Secretary of State has the power to suspend or revoke the right to do business in the state. Such a situation can cause damage to the integrity and reputation of the business entity apart from the fact that you will have to apply for a reinstatement.
- A Nevada certificate of good standing indicated that the business entity has a good standing in the state and this is extremely useful for conducting financial and other transactions in the state. Whether your company is planning to work with vendors or is in the process of obtaining financing, and renewing licenses or permits, the certificate will ensure there are no impediments in the business processes.
- A foreign business entity requires a Nevada certificate of good standing by law. According to NRS 80.120 (foreign corporation) and NRS 86.5463 (foreign LLC) if a business entity doesn’t have the certificate of good standing then they will not be authorized to transact their business within this State.
How long does it take to get a certificate of good standing in Nevada?
In the state of Nevada, a certificate of good standing is also known as a “Tax Status Compliance Certificate” or “Tax Status Letter”. The Tax Compliance Certificate is issued by the Nevada Department of Taxation and once you have this letter, you can apply for a good Nevada business status certificate with the Secretary of State.
The normal processing time can vary from 10 to 15 days, and you will have to take into account additional time for mailing. You can expedite the process by applying through our easy to access ONLINE system and using it:
- You will have a personalized secure business account
- You can view the certificate order form, fill it, and submit along with the required fee
- You can save time and any extra fee for expedited service
- You will be able to view the certificate and download it right from your account