Friday, June 19, 2015

Nevada Corporation Business License Fee Increased

As part of an overall state budget, Nevada's state license business fee for corporations will increase on July 1, 2015, from $200 to $500 per year. Nevada limited liability companies will remain at $200 per year. Both fees were slated to decrease to $100 per year until the recent lawmaking. Additionally, annual list fees for most corporations and LLCs will also increase from $125 to $150 per year.

The tax package that was enacted to balance the state budget also makes "temporary" increases in the sale tax and payroll taxes permanent.

Nevada does not have a state-level corporate tax.

For new incorporations, it may be possible to avoid the increased fee by selecting an LLC instead (when appropriate). For existing Nevada corporations, there are some other alternatives to consider, the complexity of which will vary depending on the client's circumstances - please contact me to discuss these.

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