How to Form a Limited Liability Company in Nevada

A limited liability company (LLC) is one that affords its members limited liability against company debt. Originally imported from Europe and Latin America, the concept of LLCs has provided a boost to small businesses in recent years.

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• Computer with Internet access
• Legal assistance

1. Gather the necessary forms from the Nevada Secretary of State Web site (see Resources below). The complete package is available in PDF format, and includes a complete explanation of what you must file for standard processing, as well as forms for expedited filing.
2. Pay premium prices and your paperwork can be processed in Nevada within 1 hour to 24. Fees range from $25 dollars to $1,000 per filing.
3. Decide who your resident agent will be. It is necessary in many states, including Nevada, to name a person associated with the company who is a state resident.
4. Fill out the articles of organization form and have all members sign.
5. Ask your lawyer for help with the operating agreement, which is the last part of the filing process. In the operating agreement, you must specify the responsibilities and rights of the members, as well which percentage of the business each member owns.
6. Send the paperwork to the appropriate office designated on the articles of organization form.

Tips & Warnings

• If you've never formed an LLC, seek legal assistance. Many lawyers specialize in the intricacies of company formation and dissolution issues.
• LLCs provide a big benefit in the form of protection from personal financial liability. You are, as a member, only liable for the capital you invest in the company. In other words, a creditor may not come after your house, but may pursue your business assets.