Forming an LLC is generally a good idea if you’re starting a business. If your business is based in Nevada, then you have to file your LLC with the Nevada state government. That way, you’re legal to operate and you avoid unnecessary fines and penalties.
However, if it’s your first time to form an LLC, then you need to know that it will involve quite a bit of paperwork. And that paperwork doesn’t end once you’ve formally established your LLC. To maintain the good standing of your Limited Liability Corporation, you have to periodically send in more paperwork.
These paper works include filing your LLC Annual Reports. Nevada law requires all LLCs based in Nevada to file Annual List and Business License Renewal with the Secretary of the State of Nevada.
What is an LLC Annual List and Business License Renewal?
An LLC Annual List and Business License Renewal is a report you file every year, and it’s meant to furnish the state government with the crucial details regarding your LLC. This information should include any updated info or changes that may have happened since the last filing period. As the Annual List and Business License Renewal contains crucial data, it’s also sometimes referred to as a statement of information.
Every LLC in most states has to submit its annual reports, however, the equivalent is the Annual List and Business License Renewal in the State of Nevada. The required information may change a bit depending on the state, but usually, the report will contain the following information:
The name of the LLC
- The main business address of the LLC
- The names of each LLC member (owner), and their addresses
- All the crucial ID numbers for the LLC, such as the state entity number
- The main purpose of the LLC
- A list of authorized signatories
- Information regarding your registered agent
In the State of Nevada, you can file through the mail and also through the online option through the State of Nevada’s SilverFlume system. Submission through the mail and in person is done by first downloading the form, completing the form, and dropping it off or mailing it with the required payment to the address:
Expedited and Regular filings:
Secretary of State
New Filings Division
202 North Carson Street
Carson City, NV 89701-4201
Expedited filings only (125 USD for 24-hour, 500 USD for two-hour, and 1,000 USD for one-hour). A customer order instruction form must be submitted along with your documents if you’re making use of the expedited service.
Secretary of State – Las Vegas
North Las Vegas City Hall
2250 North Las Vegas Blvd, 4th Floor
North Las Vegas, NV 89030
Note that the State of Nevada takes between 3 to 5 working days to complete the processing of your regular submission.
The cost of the Annual list and Business License Renewal in the State of Nevada is 150 USD and 200 USD respectively. And, these payments must be made simultaneously when you file each of the forms. Note that, it may cost more if you fail to file the report on time, as it may result in the dissolution of your LLC. You’ll then have to spend money, time, and effort to reestablish the LLC.
Filing the Annual list and Business License Renewal helps to make sure that your LLC is compliant with all state regulations. That should keep your LLC in good standing with the Nevada state government, ensuring that your business enjoys all the LLC benefits and protections.
If you’re a member (owner) of a Nevada LLC, you have to ensure that you send in these Annual List and Business License Renewals on time. Your Annual list and Business License renewal are due on the last day of the month you formed your LLC every year.
Your LLC’s first Annual List and Business License Renewal is required for the year right after the LLC’s year of formation. For example, let’s assume your LLC was formed on January 27, 2021. Your first Annual List and Business License Renewal will be due by January 31, 2022.
To keep you from forgetting, the state helpfully sends out reminders 3 months before your due date for filing the annual list and business license renewal. These reminders will be sent to the address of your registered agent.
It’s easy since you only have to go online. Here are the detailed steps you need to take to file your Nevada LLC Annual List and Business License Renewal:
- Log in to the Silverflume system of the State of Nevada.
- You’ll need to create a new account on the system if you don’t have one before.
- After you have logged in, choose the “renew your business option” and then the “File Annual List and/or State Business License.”
- In the search box, enter the name of your LLC or the number of your LLC.
- Choose the name of your LLC from the list and input the necessary information required on the page.
- Make payment for the filing fees and submit
- Your annual list and business license renewal will then be processed immediately.
Again, just make sure you do all this on or before the last day of the month your LLC was formed/approved. Your Annual List and Business License Renewal will be processed immediately after submission.
Who Should Do This Task?
Basically, the right person to do the task is the person with access to the necessary information that must be included in the Annual List and Business License Renewal. This can be a member or LLC officer. It can be someone that the LLC authorizes to file on its behalf.
It’s very possible that you can foist this task to professionals, such as the online service provider that helped you with the LLC formation procedure and provided you with its registered agent services. This may be part of a package (usually the medium or premium package), though it may be available as an extra service for a fee with the basic formation package.
This does save you a lot of time and tedium. Plus, you can concentrate on your business while the service deals with all the necessary report filing.
In addition, the service provider can maintain your privacy, as it will take care to submit only the absolutely required information. The privacy benefits may include the following:
- The service provider can list their contact information, so that you won’t have to file your residential address and personal smartphone number.
- The service provider will also list only their IP address. This limits the connection between your smartphone, personal PC, and LLC work computers. That way, advertisers can’t track you online.
- In case that the report asks for bank and credit card information (when the filing suddenly comes with a fee), then the service providers also furnish their own bank and credit card information. You still protect your own bank and credit card info.
An online service provider charges much more reasonable rates, compared to what a lawyer might charge. A reputable service provider can also file the Annual List and Business License Renewal as soon as possible, so you can be sure that it won’t be late and your LLC won’t suffer any fines and penalties (such as dissolution). You can check our top brands such as ZenBusiness or Northwest Registered Agent.
There’s no uniform fee as to what a service provider will charge for filing the Nevada LLC Annual List and Business License Renewal. The best brands in the business usually charge $100 or so.
If you’re the sole owner of the LLC and you have the time to spare, then it’s really no trouble doing this yourself. The main risk is that you may make a mistake, by entering the wrong information or by pressing the wrong keys. A professional with extensive experience with this task will be very unlikely to make those mistakes.
Still, it’s all up to you. Just make sure you get the Annual List and Business License Renewal filing done for the year!