Nevada Limited-Liability Company(NRS CHAPTER86)

• Category: Nevada Secretary of State - Partnership
• State: Nevada
• Control #: NV-SKU-1596
• Format: PDF

Description

Limited-Liability Company(NRS CHAPTER86) A Nevada Limited-Liability Company (NRS CHAPTER86) is a business entity that combines the limited liability of a corporation with the flexibility and tax advantages of a partnership. It is a type of business structure available in Nevada, which allows the owners (known as members) to separate their personal liability from the company's liability. The Limited Liability Company (LLC) provides a limited liability shield to its members, meaning that the members are not personally liable for the company's debts and liabilities. There are two types of Nevada Limited-Liability Companies: single-member LCS and multi-member LCS. Single-member LCS have one member, while multi-member LCS have more than one member. All members of the LLC must be at least 18 years old, and there is no limit to the number of members. In addition to the limited liability shield, LCS also provide members with pass-through taxation, meaning that profits and losses are passed through to the members and taxed on their individual tax returns. LCS also offer flexibility in terms of management and operations, and can be managed by members or by non-members. Finally, LCS must file an initial list of officers and directors and annual reports with the Nevada Secretary of State. The LLC must also maintain a registered agent in Nevada, and must pay annual fees and taxes as required by Nevada law.

A Nevada Limited-Liability Company (NRS CHAPTER86) is a business entity that combines the limited liability of a corporation with the flexibility and tax advantages of a partnership. It is a type of business structure available in Nevada, which allows the owners (known as members) to separate their personal liability from the company's liability. The Limited Liability Company (LLC) provides a limited liability shield to its members, meaning that the members are not personally liable for the company's debts and liabilities. There are two types of Nevada Limited-Liability Companies: single-member LCS and multi-member LCS. Single-member LCS have one member, while multi-member LCS have more than one member. All members of the LLC must be at least 18 years old, and there is no limit to the number of members. In addition to the limited liability shield, LCS also provide members with pass-through taxation, meaning that profits and losses are passed through to the members and taxed on their individual tax returns. LCS also offer flexibility in terms of management and operations, and can be managed by members or by non-members. Finally, LCS must file an initial list of officers and directors and annual reports with the Nevada Secretary of State. The LLC must also maintain a registered agent in Nevada, and must pay annual fees and taxes as required by Nevada law.