Summary
The fact that you may need to register with state agencies like Nevada SilverFlume is a sneaky misconception that many folks miss.
However, with the rise of remote work, states have begun cracking down and levying penalties for those who (unknowingly) fail to register.
If you're considering operating in Nevada, use this guide to:
- Explore the that triggers the need to register with the Nevada SilverFlume, including criteria such as physical presence, economic activity, and advertising efforts.
- Determine where and how to register with the Nevada SilverFlume.
- Understand additional requirements such as Registered Agents, registration with other state departments, and ongoing annual reports.
What criteria would trigger the requirement to register with the Nevada SilverFlume?
Key Factors Nevada Considers Physical Presence: This is a strong indicator of doing business in Nevada. The following would typically qualify:
- Having an office, store, warehouse, or other physical place of business in Nevada.
- Having employees or representatives based in Nevada.
- Owning or leasing property in Nevada. Economic Nexus: Nevada, like many states, also considers economic activity as creating "nexus." Here's what could trigger business obligations:
- Regularly selling goods or services to Nevada customers (even remotely).
- Providing services in Nevada.
- Soliciting business or engaging in a significant number of transactions within Nevada.
Exemptions Nevada law provides a list of activities that don't constitute doing business in the state. These include things like:
- Defending or settling lawsuits.
- Holding meetings of the company's board or shareholders.
- Maintaining bank accounts.
- Creating or owning debt or securities.
Specific Examples of Doing Business in Nevada Here are some activities that would likely require business registration and potentially taxation in Nevada:
- Operating a retail store located in Nevada.
- Maintaining a warehouse or distribution center in Nevada to fulfill orders.
- Having a sales team that regularly visits Nevada-based clients.
- Providing consulting or other professional services to clients in Nevada.
- Selling products to Nevada residents through an online store or marketplace (especially if you hit certain sales thresholds).
"Doing Business" vs. "Conducting Business" Nevada has two separate business-related concepts that can be confusing:
- Doing Business: Refers to the activities that require your business to register with the Nevada Secretary of State.
- Conducting Business: This determines if you need to obtain additional county or city business licenses for your activities.
Where do I register, and what else is required?
- A Certificate of Good Standing is not required.
In addition:
A Registered Agent is required to serve as the company's physical in-state presence to receive important legal documents. Do not fall victim to the common misconception that you can leverage an in-state employee as your Registered Agent. It's far too risky.
You'll want to review the other registrations required in Nevada. Here's a Nevada specific guide we put together.
What is the registration fee?
The fee charged by Nevada is $300+, determined by the county of residence of the employee..
How long does Nevada usually take to process?
Nevada usually takes approximately Less than 1 week to process registrations.
What is required ongoing?
Each state has a complex schedule of required annual reports, which can vary by entity type. Let's take a look at Nevada's:
C-Corporation
- Filing Date: By your registration anniversary day
- Filing Frequency: Annual
LLC
- Filing Date: By your registration anniversary day
- Filing Frequency: Annual
Non-Profit
- Filing Date: By your registration anniversary day
- Filing Frequency: Annual
There is an Easier Way
Automate registration and annual report tracking in AbstractOps.This guide should definitely help reduce some of the confusion for Nevada. However, if you have multiple states to worry about, you may look to:
Automate state registrations and annual reports
Centralize email, snail mail, state ID’s, and registered agents, and
Take control of action items, eliminating risks before they become penalties.
Start the AbstractOps product demo to see how easy this can be.
Note: For the avoidance of doubt, nothing provided here shall contemplate, constitute or include tax or legal advice. Always double check with state agency websites for the most up-to-date requirements.
