LLCs, Corporations No Longer Eligible for State Business License Exemption

Previously, entities such as LLCs and corporations in Nevada could apply for an exemption from the $200 annual state business license fee if the business was home-based and made less than approximately $26,000 a year.

Today, the Secretary of State issued a press release about its regulation clarifying that the exemption was intended to apply only to natural persons – sole proprietors and general partnerships – and not to entities.

Therefore, effective immediately, all entities must pay the $200 annual state business license fee.