Selecting the Nevada Corporation or LLC Name
As you narrow down the selection process for a name for your Nevada corporation, it should be remembered that the name will need to be unique and will identify you as a separate entity transacting business in the state. The name of a corporation must end with “Incorporated,” “Corporation,” “Corp” or “Inc.”. When developing a name for a limited liability company it must end with “Limited Liability Company” or “LLC”.
Since the name you choose for your business based in Nevada will be identifying your business as a unique entity, the name will not be accepted if it is likely to confuse the public or if it too closely resembles the name of another corporation or LLC formed in the state of Nevada.
Do not use any type of punctuation such as hyphens, underscores, periods or commas in name selection. It is advantageous to try to name your corporation or LLC so that it identifies with the goods or services you provide, but this is not a requirement.
Selecting a Board of Directors
A corporation can have several members serve as director but is only required to have one do so. Since the board of directors is responsible for managing the business, it is suggested that the board be comprised of individuals that are officers or shareholders who have some type of daily involvement with the corporation. Nevada requires a director to be at least 18 years of age.
Nevada does not maintain a corporation business tax but all businesses are required to register and file an annual Business Tax Return.
Nevada does not maintain an individual income tax so employers are not expected to withhold state income tax. Nevada maintains a general sales and use tax with rates from 6.5% to 7.5% depending on the local jurisdiction.
The registered agent must have a physical street address within Nevada state. PO boxes are not acceptable, within Nevada.