A series LLC in Nevada is a form of LLC that offers its owners and members unique liability and tax advantages. The series LLC is made up of a master LLC and one or more sub-series that branch out of it.
It is not difficult to establish your own Series LLC in Nevada. It’s easy with our step-by-step instructions!
A series L L C enables its members to split the assets and activities of a “parent” L L C into a set of “child” series.
You should know the answers to the following questions before naming your series LLC:
1. Series LLC name regulations differ per state. When name your series LLC in Nevada, you are just obliged to follow regular LLC naming regulations.
Follow the Nevada LLC Naming Regulations:
3. Does my company name exist in Nevada? Check the Nevada Secretary of State’s website to see if the name you desire isn’t already taken.
Is my company’s name accessible as a URL? We propose that you investigate if your company’s name is accessible as a web domain. Even if you don’t intend to create a company website right away, you may wish to purchase the URL to prevent others from doing so.
You must choose a Registered Agent for your Nevada series LLC. The parent LLC’s Registered Agent must be the same for each child series.
What exactly is a Registered Agent? A registered agent is a person or corporation that agrees to deliver and receive legal documents on your series LLC’s behalf. Service of process of legal action (if you are sued) and state filings are examples of such paperwork.
Who is eligible to be a Registered Agent? A registered agent must be a Nevada resident or a company allowed to do business in Nevada. You may choose someone from your organization, even yourself.
You must submit the Articles of Organization with the State of Nevada to register your LLC. This may be done online or in the mail.
Section 1 of the Nevada Articles of Organization form includes a checkbox where you may designate whether your LLC is a series LLC.
To outline your series LLC, experts recommend adding an addition to the Articles of Organization. We suggest that you engage with an attorney to complete your series LLC Articles of Organization.
The filing fee for the Articles of Organization is $75.
When forming a series LLC in Nevada, an operating agreement is necessary. The operating agreement is not required to be registered with the state.
What exactly is an operating agreement? An operating agreement is a legal document that outlines an LLC’s ownership and running processes.
Why are operating agreements necessary? The operating agreement for a series LLC is crucial since it sets the liability restrictions (asset protection) of the individual series.
What exactly is an EIN? A corporate entity is identified by its Employer Identification Number (EIN) or Federal Tax Identification Number. Each of your series LLC’s offspring series will need an EIN.
Why do I need an EIN? An EIN is necessary for the following activities:
How can I get an EIN for my LLC series? The IRS does not have precise procedures for obtaining an EIN for a series LLC’s child series. For each subsequent EIN, experts recommend utilizing the name of your series LLC coupled with the name of the child series.