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How to start a business in Nevada using Wholesale Shelf Corporations

 

Nevada is one of the best states in the U.S to start a business. Since it has no franchise tax and no personal income taxes, it becomes one of the tax-friendly states to start a business. If you are considering starting a business in Nevada, you should also consider purchasing a shelf corporation.

What is a shelf corporation and why do you need one?

A Shelf Corporation or an aged corporation is an off-the-shelf company that is kept dormant and has no activity whatsoever. These kinds of companies are solely established to age and increase the credibility of businesses. Since it has some history of longevity it will make your business look more trustworthy and reliable in front of investors and other businesses. It will also save you a lot of time that goes in during the initial stages of a business. You no longer need to worry about extensive paperwork since a shelf company is already established.

Now that you know what a shelf company is, let us look at the steps required to start a business in Nevada using Wholesale Shelf Corporations.

Decide on a business structure.

You need to thoroughly research your options before you decide on a business structure. The four main types of businesses are Sole Proprietorship, S corporation, C corporation, and Limited Liability Company or LLC. It is suggested that you receive guidance from an attorney or accountant before making this decision. This is a very important step since the type of entity you select will have tax and legal implications.

Get your shelf company and negotiate with the supplier.

The next step is to find a shelf company that best suits your business needs and wants. Remember, the older the shelf company is the more expensive it will be. Most lenders and suppliers typically invest in a company that has at least been established for 2 years. You will have to choose a shelf company based on its date of incorporation. Once you have found the shelf company best suitable for your business, it is time for you to negotiate with the seller and seal the deal. Look for additional services offered with the purchase. Also, research the market to make sure that you do not pay more than required. Before you make the purchase, make sure that the shelf company is clean and does not have any pending debts and liabilities.

Sign the contract of sale.

You will be agreeing to the transfer agreement by signing the “Contract of sale.” Once you sign this, the ownership and the shares of the shelf company will be transferred to you. You will become the new owner and the shareholder of the shelf company.

Come up with a business name 

You can choose to go along with the existing name of your shelf company for your business or decide to change it. Once you have decided on a business name, you need to make sure that it is not already in use by any other existing business. Also, conduct a trademark search if you want to use your business name in other states. Once you finish the registration, your business name will be made official. The state lets entrepreneurs reserve a business name for 90 days.

Hire a registered agent service 

The state of Nevada requires registered business entities to hire a registered agent. This registered agent will be accepting and receiving all legal paperwork on behalf of your company. Your registered agent will be required to reside in Nevada and also have a physical street address to receive paperwork for your business.

Decide on a business location and register your business. 

If you are planning to serve your audience at a physical location, you need to know that the location that you choose will directly affect your success. Make sure that you research the zoning, licensing, and permit requirements of the jurisdiction. Check with the Nevada Department of Business and Industry to connect with local governments and research if the government provides any programs or incentives for locating your business in the area.

It is now time to register your business. “Silverflume” is Nevada’s online portal that handles everything related to business registration and licensing. You will be needed to file other state reports and documentation along with the proper formation documents.

Obtain an EIN 

EIN or employer identification number is a unique nine-digit identification number that is required to hire employees, file certain reports and open a business bank account. If you have a social security number or an individual tax ID number then you can obtain an EIN for free from the IRS.

Apply for a business bank account and seek funding 

Once you have your EIN, you can now start applying for business credit cards or open a business bank account. This is required to keep your business finances separate from your personal bank account. You will also need to work on securing funding. Your shelf corporation can prove helpful for you in this case. Your shelf corporation will make your business look more professional and experienced.

Apply for Nevada State Business License and Permits 

Every business in the state of Nevada is required to apply for an annual business license. You can read more about these requirements on Nevada’s State Business License FAQ list. Also, make sure that you check with the county and the local city licensing requirements. Licensing fees differ from jurisdiction to jurisdiction and also depend on the type of business.

Apart from the general business licenses and permits, the state also requires businesses operating in certain industries to apply for special state licenses and permits such as building contractors, childcare, eldercare and, other related services.

To conclude, Nevada is home to many businesses due to its business-friendly nature. A shelf corporation can definitely help your Nevada business get off the ground. Wholesale Shelf Corporation has been in business for quite a long time and can provide you professional service. Their team is made up of industry experts to make sure that you fulfill all your business goals

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