Business Formation

I often run into businesses that say "I want to form an S-corp" or "I am an S-corp."  There is some degree of misunderstanding in this that I want to try to clear up.  Hopefully I won't muddy the waters even further.  Here goes... A business entity resides simultaneously in two different worlds - the legal world and the ta...

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When you form an LLC in Nevada, you're asked whether the entity will be Member-Managed or Manager-Managed.  The owners of the LLC are called "members."  As owners, members have broad discretion to run the company any way they see fit, restricted only by terms outlined in an operating agreement.  For Member-Managed LLCs with no opera...

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I recently formed a business for a client who insisted on using a post office box as her business address.  I warned her that sometimes the business license bureaus in Vegas are hip to this trick and won't approve a license at a post office box.  Part of the application process involves a fire inspection at your listed business address. &...

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On May 5, 2011, current and aspiring small business owners will enjoy a rare opportunity to meet with more than 15 agencies and organizations that help small businesses, at no charge, under one roof. Organizations participating include: Nevada Small Business Development Center US Small Business Administration Nevada Departme...

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The Nevada Secretary of State has contracted with a technology company to create a $4.5 million online portal that offers "one-stop shopping" to the business community.  When complete, this website promises to allow companies to conduct nearly all state and local government business through the Secretary of State's site (www.nvsos.gov).  ...

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By popular demand, here is the checklist for starting a business in Las Vegas, Henderson, North Las Vegas, Boulder City and Clark County. 1.  Choose a name. Start with my article Naming Your Business.  Make sure no one else has it.  When you've chosen a name, move on to step 2. 2.  Figure out your business address. Whether y...

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When naming your business, it's important to check the public records to be sure there isn't any other business already using the name.   I received a call today from a client who wanted to use the plural version of a name already in use for the exact same business.  In support of his using the name, he said that the city business licens...

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An insurance agent in one of my networking groups recently explained why one insurance company in particular can consistently offer much lower rates than his competition.  By allowing customers to choose their own coverage, no agent of the company is involved and the customer assumes all responsibility for choosing his liability coverage. ...

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