LLC Annual Report and Tax Filing Requirements in Nevada

Once you've formed a limited liability company (LLC), you must file certain documents and pay various fees to maintain it. Below are the most important ongoing reporting and state tax filing requirements for Nevada LLCs.

Nevada LLC Annual List and Business License Renewal

The State of Nevada requires all LLCs to file an annual report, or what the state more technically calls an "annual list." Your LLC must also renew its state business license. You should've already applied for a business license and submitted an initial list of managers or managing members when you filed your articles of organization with the Nevada Secretary of State (SOS).

You can file the annual list and renew your business license online through SilverFlume, Nevada's business portal. You can also download the Annual or Amended List and State Business License Application from the SOS website. Only a few pieces of information—mainly the names and addresses of the LLC's managers or managing members—are required to complete the application and list.

The annual list and business license renewal are both due by the last day of the LLC's anniversary month. For example, if you created your LLC in June, each annual list and license renewal is due by the last day of June. As of 2023, the fee for filing your annual list is $150 and the fee for your business license is $200. Penalties apply for late filings.

State Business Taxes in Nevada

For the purpose of income tax, most LLCs are considered "pass-through tax entities." In other words, the responsibility for paying federal income taxes passes through the LLC itself and falls on the individual LLC members. So, as an LLC owner, you report your share of the LLC's income on your personal tax return. The LLC itself doesn't pay income tax.

Nevada is one of only a very few states that doesn't have a personal income tax or a corporation income tax. Consequently, for most LLCs, including those that might have elected to be taxed as corporations, no state income taxes are due. Moreover, because Nevada also doesn't have a personal income tax, LLC members generally will owe no state tax on income they earn from a Nevada LLC.

However, you'll still be responsible for reporting and paying taxes on your federal returns.

No franchise tax. Some states impose a separate franchise tax or fee on LLCs and other business entities for the privilege of doing business in the state. However, Nevada doesn't impose a franchise tax, making it a more attractive place for entrepreneurs to start their businesses.

Electing corporate tax status. Usually, LLCs are taxed as partnerships by default. However, you can choose to have your LLC taxed as a corporation for federal tax purposes by filing IRS Form 2553 with the IRS. If you elect federal corporate tax status, Nevada will also recognize your LLC as a corporation for tax purposes. However, Nevada has no corporate income tax. So your LLC wouldn't need to pay corporate income tax.

Nevada Employer Taxes

Does your LLC have employees or does it plan to hire anyone? If so, you must pay employer taxes to the federal and state governments. You'll need a federal employer identification number (EIN) from the IRS to report and pay these taxes as an employer.

Withholding employee wages. Nevada doesn't impose an income tax on individuals. Therefore, you don't need to withhold wages from employees at the state level.

Nevada's Modified Business Tax (MBT). Nevada has a quarterly payroll tax—the MBT—paid to the Nevada Department of Taxation (DOT). In general, if your LLC is required to pay unemployment compensation, you'll also be liable for the MBT (discussed below). You must register with the Employment Security Division (ESD) to pay the tax. You'll automatically be registered with the DOT to pay the MBT when you register with the ESD for unemployment compensation.

Unemployment insurance (UI) tax. If your business pays at least $225 in wages during a calendar quarter, then you must register with the ESD to pay state unemployment compensation taxes—also known as "UI taxes." You can register your business to pay the UI tax using the Employer Self-Service portal. Employers must file quarterly wage and tax reports electronically.

Nevada Sales and Use Tax

If your LLC plans to provide taxable goods or services to customers in Nevada, you must collect and pay sales tax to the DOT. You can register your business to pay the state sales tax either:

• online through the Nevada Tax Center, or
• by mail by completing a Nevada Business Registration form.

After you've registered, the DOT will issue your business its sales tax permit. Every month or quarter, you'll have to pay and file a sales and use tax return.

Review the DOT's sales tax information and FAQ webpage for answers to commonly asked questions. You can find additional information in the various sales and use tax publications found on the DOT website.

LLC Registration in Other States

If you plan to do business outside of Nevada, you might need to register your LLC in some or all of the states where you conduct your business activities. Each state has its own standards and requirements for when a business is required to register or qualify as an out-of-state business. But, in general, you probably need to register as an out-of-state LLC if you have a physical presence in a state, hire employees in the state, or advertise directly to residents of the state.

To review individual state requirements, check out our state guide to qualifying to do business outside your state.

More Information About Nevada LLCs

If you're looking for information about other states' LLC requirements, you can review our article on LLC tax and filing requirements. To help you with managing and running your LLC, check out the articles in the LLC section of our website.

If you're still unsure about what's required of your business or you have any legal questions, consider speaking with a Nevada business attorney. A local lawyer can help you figure out the filing requirements and tax responsibilities specific to your LLC. They can also help you register your LLC with the appropriate state departments or divisions and keep your registration active.