The filing requirement for Commerce Tax has been changed. If the Nevada gross revenue of your business from July 1, 2018 through June 30, 2019 was $4,000,000 or less, your business is no longer required to file a Commerce Tax return and your Commerce Tax Account will be automatically closed, effective June 30, 2019.
Congratulations on securing your State License from the Nevada Secretary of State. So, what now? Can you legally conduct business? Well, more often than not, your business will be required to have a local license at the county or city level. Depending on the operation of your business, you may be required to secure what's called a "privilege license" in Nevada.
Classifying as a nonprofit organization has always been a popular choice for Nevada business owners when deciding on the classification of their new business entity. Not all businesses can be classified as a nonprofit or 501(c)(3), however. To qualify for 501(c)(3) status, an entity must be formed for charitable, educational, literary, religious, or scientific purposes. A 501(c)(3), as many people know, is eligible for federal and state tax exemptions - and thus drives the popularity of the classification. In this blog, we will go over things to keep in mind if you're thinking of forming a nonprofit organization.
Earlier in the year, we talked about things to consider before signing your commercial lease. However, we didn't dive into understanding your lease or cover the common mistakes business owners make before signing their lease. As you read this, keep in mind that a lease between a landlord and tenant can supersede certain sections of Nevada law to the extent of any conflict. Since a lease can have an enormous influence on your business, we thought it would be best to follow up on this topic. In this blog, we'll discuss the key points you'll want to keep track of as you review your commercial lease.
Every business owner has signed an agreement at one point or another. In a perfect world, these agreements would always be executed as they're agreed upon. However, everyone knows that contracts are breached and agreements aren't honored all the time. These disputes and incongruities can lead to more trouble, headaches, and lawsuits more often than not. One thing is certain, when these issues arise, all parties are faced with potentially higher fees and costs than they initially anticipated. As a business owner, it's imperative to find a way to mitigate the cost of these issues when they do arise. So, how is this done?
There are many things at the top of every business owner's mind when they launch their company. This may include raising capital, revenue, sales, marketing, getting clients and customers - and rightfully so. There would be no company to manage without revenue. However, intellectual property is among the last things that a start up thinks about and it shouldn't be.
Nevada has been a popular destination to establish businesses and the popularity is recognized by foreign business owners as well. This is largely due to the tax benefits and protection that many Nevada entities currently have. It's no secret that many businesses form shell companies here to protect sensitive information. In comparison to other states, Nevada has little power under the current statute to audit or investigate companies that have incorporated here, unless asked by law enforcement. The reason for the discussion of tightening the rules for Nevada entities is due to the recent discoveries of shell companies being linked to the government corruption scandal in Brazil, most commonly known as the Panama Papers in 2016.
It wasn't long ago when documents weren't saved on a hard drive, a server, or sent via email. Today's businesses have gotten very good at going paperless and as a result have gotten more efficient. E-signatures are a big part of the efficiency and are essential for people on the go. They are common now but there are still some lingering questions related to e-signatures.
A commercial registered agent is an individual or entity chosen by an a corporation, organization of limited liability company (LLC), or partnership to receive tax and legal documents. The agent should be able to deliver the documents to the relevant companies they represent in a timely manner. In addition, the articles of incorporation of the company corporation or LLC should list the individual who or entity that acts as its registered agent.