A Nevada professional limited liability company — also known as a PLLC — is formed to provide licensed professional services. PLLCs require state registration and have one or more members who are also owners of the business.
This article provides all the information you need to form a Nevada PLLC. But first, let’s see if you’re qualified to form one.
Registered, licensed, or otherwise legally authorized professionals can form a Nevada professional limited liability company to perform their services in the state. Each member of the PLLC needs to have a professional license in Nevada. Although Nevada doesn’t have a set list, Nevada’s Professional Entities and Associations Act does provide recommendations as to which types of businesses qualify.
A professional corporation (PC) comprises shareholders who base their ownership on shares of stock. Comparatively, a PLLC consists of members who are also owners of the business.
Nevada allows professionals to form both PCs and PLLCs. Both PCs and PLLCs provide essentially the same amount of personal legal liability and asset protection to individual shareholders or members.
As PLLCs are easier to form and operate, many professionals prefer the PLLC structure.
Select a unique name that suits your PLLC’s focus and meets the following criteria:
To check whether your name is available, the state’s site. If your name is available but you’re not ready to file, you can reserve it using ZenBusiness’s name reservation service. If you want to take it a step further, you can register your domain name using ZenBusinesses domain registration service to start building a web presence.
A registered agent is an individual or business responsible for accepting legal notices on behalf of your Nevada professional limited liability company. This agent must be physically present at a registered office in Nevada during regular business hours.
To take some of the pressure off your shoulders, you can take advantage of ZenBusiness’s Nevada-based registered agent partners. This service will accept critical legal documents such as lawsuits and subpoenas on your behalf and store them in your ZenBusiness client dashboard. You can view them online and download or print them anytime.
Forming a PLLC in Nevada requires the submission of Articles of Organization. Once filed and stamped, the state then legally recognizes your PLLC. There is a filing fee of $75 for the Articles of Organization and a fee of $150 for the initial list of members.
A number of different parties may file Articles of Organization for a Nevada PLLC. This can be a licensed professional member of the PLLC, but any authorized person can also complete and file this document once all proper signatures are obtained. You can file online or by mail.
You will need to decide in advance if managers or members will manage your Nevada PLLC.
Your Articles of Organization document needs to include the following information:
Your Nevada PLLC operating agreement is a customized document that outlines its functional and financial decision-making structure. Although not a mandatory form, this agreement is a good idea so those within your PLLC know how things will be run.
All Nevada PLLCs need a federal tax ID number — or Employer Identification Number (EIN) — even if there are no employees. This nine-digit personalized number lets the IRS identify your business on tax returns and other necessary financial paperwork.
You can get an EIN from the IRS website or by using ZenBusiness’s EIN service. This number lets you hire employees and open a business bank account.
Nevada is one of the few states that doesn’t have a personal or corporate income tax. Therefore, most Nevada PLLCs won’t pay state income tax, and PLLC members won’t pay state income tax on money earned from the PLLC.
If your PLLC has employees, you’ll have to pay a quarterly payroll tax to the Department of Taxation (DOT). Payment of this tax requires registration with the Nevada Employment Security Division (ESD).
If your Nevada professional limited liability company plans to sell goods to Nevada customers, you’ll need to register with the DOT and collect and pay sales tax. You’ll receive a sales tax permit for each business location where you plan to sell goods.
You are responsible for securing all business licenses and permits your PLLC may need to operate legally in Nevada. In general, all businesses active in Nevada need to obtain a state business license from the Nevada Secretary of State. You must renew this license annually.
Licensing can take place on the local, state, or federal level. Since the requirements vary based on your business activities, location, and industry, understanding them can be challenging. Plus, no centralized resource provides this information.
ZenBusiness offers a business license report service that provides a list of licenses and permits needed for your company’s operation.
It’s always a good idea to contact an insurance agent to determine what type of insurance your PLLC needs. Below are three types of business insurance required in Nevada.
Nevada requires most business owners to hold general liability insurance. General liability insurance helps protect your PLLC from direct or indirect damage to another party. These can include personal injuries involving customers, visitors, and subcontractors, as well as property damage.
General liability insurance only covers damages caused by your business’s or employees’ actions that are not due to your own malpractice.
A Nevada PLLC does not protect its members from their own malpractice. Therefore, each member will need professional liability insurance.
A PLLC will protect you personally from liability for the malpractice of other PLLC members — vicarious liability. However, for some professions, PLLC members must have a minimum amount of malpractice insurance before they are eligible for such protection.
Nevada state law requires Nevada PLLCs with one or more employees to obtain and maintain workers’ compensation insurance.
A business bank account separates your personal from your company assets, providing personal protection and making accounting and tax filing easier. To open this account, you’ll need some Nevada-based ID along with the following information:
You may need to provide the nature, address, and age of your PLLC, as well as the number of employees. Banks may ask the approximate size of your customer base and your current or expected annual turnover. They may also want to see a copy of your operating agreement.
At ZenBusiness, we are proud to support small businesses through a variety of different tools and services. Whether you need a registered agent service, want to reserve a business name, or looking to register a domain, our goal is to help you stay on the road to success. Check out our services, and contact us today to see how we can help you grow your company.
The filing fees for a Nevada PLLC are: $75 for the Articles of Organization $150 for the initial list of members $200 for the initial business license registration You must file the last two items annually. Annual costs are the same as the initial fees.
No. You can do it on your own, but a legal advice might be a good idea.
Yes, Nevada allows professionals to form PLLCs and PCs.
A Nevada PLLC can only provide one kind of professional service unless the services are related and in certain combinations.
Nevada doesn’t have a personal or corporate income tax. This means most Nevada PLLCs won’t pay state income taxes, and members won’t pay state tax on income they earn from the PLLC. If your Nevada PLLC plans to sell goods to customers in Nevada, you’ll need to collect and pay sales tax. You’ll also have to pay a quarterly payroll tax if your PLLC has employees.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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