To form a corporation in Nevada, you need to take the steps set forth below. You can also use Nolo's Online Corporation service, which will form a corporation for you with everything you need.
A name appearing to be that of a natural person and containing a given name or initials may not be used as a corporate name except with the addition of a corporate ending such as Incorporated, "Inc.," "Limited," "Ltd.," Company," "Co.," "Corporation," "Corp." or other words that identify it as not being a natural person.
Your corporation's name must be distinguishable from the names of other business entities already on file with the Nevada Secretary of State. Names may be checked for availability by at the Nevada Secretary of State business name database.
You may reserve a name for 90 days by filing a Name Reservation Request form with the Nevada Secretary of State. The application may be filed online through the Nevada SilverFlume Business Portal website or by mail. The filing fee is $25.
Your corporation is legally created by filing Articles of Incorporation with the Nevada Secretary of State. The articles must include the corporate name and address; the name, address, and signature of an agent for service of process; the number of shares with or without par value the corporation is authorized to issue; the names and addresses of the board of directors; and the name and address of the incorporator. The registered agent must complete and sign a certificate of acceptance, which is included with the Articles of Incorporation form.
The articles and initial list form may be filed online or by mail. The filing fee is based on the number of shares the corporation is authorized to issue with an initial minimum of $75 for $75,000 or less of authorized shares. The initial list fee is $150 plus a $500 business license fee.
You must file an Initial List of Officers, Directors, and Registered Agent and State Business License Application with the Secretary of State at the time you file your articles. The form is included with the Articles of Incorporation forms packet. The initial list fee is $150 plus a $500 business license fee.
Every Nevada corporation must have an agent for service of process in the state. This is an individual or corporation that agrees to accept legal papers on the corporation's behalf if it is sued. The registered agent must be a Nevada resident, or a business entity authorized to do business in Nevada. The registered agent must have a physical street address in Nevada. The agent should agree to accept service of process on your corporation's behalf prior to designation.
Set up a corporate records book in which you keep all of your corporation's important papers, including minutes of director and shareholder meetings, stock certificates, and stock certificate stubs. Keep your corporate records book at the principal office of your corporation. You can use a three-ring binder as the corporate records book or you can order a special corporate records kit through a corporate kit supplier.
Bylaws are an internal corporate document that set out the basic ground rules for operating your corporation. They are not filed with the state. Your corporation is not legally required to have corporate bylaws, but you should adopt them because they (1) establish your corporation's operating rules, and (2) help show banks, creditors, the IRS, and others that your corporation is legitimate. For corporate bylaw forms, see Nolo’s website or Incorporate Your Business, by Anthony Mancuso (Nolo). Corporate kits also typically contain sample bylaws.
The first meeting of the corporation's board of directors should be held at which the directors can appoint adopt bylaws, select a corporate bank, authorize issuance of shares of stock, set the corporation's fiscal year, and adopt an official stock certificate form and corporate seal. The directors' actions must be recorded in corporate minutes prepared by the incorporator or any of the directors. Additionally, if the corporation will be an S corporation, the directors should approve the election of S corporation status. For corporate meeting minute forms, see Nolo’s website or refer to Incorporate Your Business, by Anthony Mancuso (Nolo).
Issue stock to each shareholder. Although not legally required in most states, small corporations usually issue paper stock certificates. Enter each shareholder's name and contact information in the corporation’s stock transfer ledger.
A share of stock in your corporation is classified as a security under state and federal securities laws that regulate the offer and sale of corporate stock. However, the federal government and all states exempt most small corporations from these laws. For example, federal law exempts "private offerings:" a non-advertised sale to a limited number of people (generally 35 or fewer). Most states have enacted their own versions of this SEC exemption. Visit your state securities office website for information about your state's securities laws. Links to all such offices can be found at the Contact Your Regulator web page of the North American Securities Administrators Association.
All corporations doing business in Nevada must file an Annual List of Officers, Directors, and Registered Agent and State Business License Application every year with the Nevada Secretary of State. These can be filed online at the Nevada Secretary of State website or by mail. The annual list fee is based on number of authorized shares. There is also a $500 state business license fee payable with the annual list fee.
Additional tax and regulatory requirements apply to your corporation. These include:
EIN: Your corporation must obtain a federal employer identification number (EIN). You may obtain an EIN by completing an online application on the IRS website. There is no filing fee.
S Corporation Filing: If the corporation wants to elect S corporation status for tax purposes, it must submit Form 2553 Election by a Small Business Corporation (signed by all the shareholders). The election should be filed within two months and 15 days after the beginning of the corporation's first tax year. See the IRS S Corporation Fact Sheet for details.
Business Licenses: Depending on its type of business and where it is located, your corporation may need to obtain other local and state business licenses.
All corporations organized outside of Nevada must register with the Nevada Secretary of State to do business in Nevada. Foreign corporations must appoint a registered agent for service of process physically located in Nevada. To register, file a Foreign (Non-Nevada) Corporation Qualification. The application must be accompanied by an original certificate of good standing or existence, no more than 90 days old, from the Secretary of State or similar official of the foreign corporation's home state. The form may be filed online, or by mail. The filing fee is based on the number of authorized shares of the foreign corporation with an initial fee of $150.
Before filing, make sure the corporation's name is available in Nevada by checking the Nevada business name database. If the name is not available, the foreign corporation must adopt a fictitious name for use in Nevada, and provide a resolution from the Board of Directors signed by the Secretary adopting this fictitious name.