Got a Nevada Business? Get Ready to Pay a Little More

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If you’ve got a Nevada-incorporated corporation, LLC or limited partnership, you’ll be paying an extra $100 (or possibly $200) for your yearly business license fee. The Legislature approved a temporary (!!) increase of $100/year for this year and next year. That will bring your NV Business License Registration fee to $200/year, starting on July 1, 2009.

The fee will be reviewed in 2011, the next time our state government meets and will either be dropped back to its pre-2009 rate or kept in place.

There’s been a few other changes to the Nevada business license procedure as well. The argument that non-resident businesses don’t have to pay the tax is gone. The law has been rewritten to specifically include all businesses organized or incorporated in this state.

Payment and collection of the business license fee has also been incorporated into the Secretary of State’s office. That means you’ll soon be paying the $200 at the same time you file your Annual List, and you won’t be able to file your Annual List without paying the license fee. You won’t want to be filing late, either. The late-filing penalty on an Annual List is $75, and the late-filing fee on the business license is $100 – that’s a lot of late fees.

If you prepaid your 2009 business license fee hoping to avoid the extra $100 … it didn’t work. The State has announced that it will still be collecting the additional $100.

That brings the average Nevada renewal fee to $325, before you add in resident agent fees. Those range from $125+ per year to $125+ per month. Nevada is becoming an expensive state to do business! With the exceptions of the Nevada Series LLC, which I think is still a fantastic bang for the buck, and the Charging Order protection granted to Nevada S Corporations (the only state in the country with this legislation, as far as I know), Wyoming is starting to look like an attractive place to form and maintain an entity.

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