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Member Managed vs Manager Managed LLCs

October 11th, 2018 by

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 Operating […]

ITINs, EINs, and Responsible Parties

October 19th, 2016 by

In order to open a bank account for your business entity, you have to present Articles of Organization/Incorporation and an EIN, which is an Employer Identification Number issued by the IRS.  In order to apply for an EIN number, you have to supply the EIN, ITIN, or Social Security Number of a “Responsible Party” for […]

Should I Form a New Entity for My Idea?

September 6th, 2016 by

You have a new idea and you’ve got a guy who has connections or resources or ways to help get that idea off the ground.  It’s clear you want to work together.  The assumption is, often, that you’ll “simply” form a new entity, like an LLC, to make this idea happen.  Holdupwaitaminute. Now that my […]

Changing Your Entity in Nevada – Conversions and Domestications

June 14th, 2016 by

Are you thinking of relocating your existing business to Nevada, or reorganizing as a different entity type? As business attorneys, we get asked about this all of the time. Nevada allows owners of foreign entities to convert or domesticate as Nevada based companies. This allows you to keep your EIN, the credit your company has […]

Trademarks and Word Mark Classification

November 13th, 2015 by

When you’re thinking of your company’s name, slogan and/or tag line, be sure to weigh its “trademarkability.” Yes, yes, I realize “trademarkability” is not a real word, but it leads me to an important concept about trademark protection and your business. The short of it is, not all trademark protection is created equally, and the […]

Changing Ownership Interest in Your Company

October 19th, 2015 by

Boy, has this issue come up a lot lately.  I know you’re tired of hearing me say it, but this, like many other issues in your business, is not as simple as you think.  Regardless of whether you are selling interest, giving it away, or allowing someone to work for your company in exchange for […]

Changing from Corporation to LLC in Nevada

August 15th, 2015 by

Recently, the Nevada legislature increased the cost of doing business here in Nevada.  Initial and annual lists (required annually) increased for every type of entity by $25.  While this is may be the cost of a few cups of fancy coffee, the real heartburn is being felt by our clients who are organized as corporations. […]

How to Start a Business in Las Vegas

May 19th, 2015 by

By popular demand, here is the checklist for starting a business in Las Vegas, Henderson, North Las Vegas, Boulder City and Clark County.  First, Southern Nevada is a bit wacky in its structure. While it would make sense for there to be three levels of business licensing – state, county, city – that’s not the […]

An Ounce of Prevention is Worth a Pound of Cure

February 20th, 2015 by

We often meet new business owners who say, with a sigh of relief and a superstitious knock on wood, “we’ve never needed a lawyer.” That’s because most people think lawyers are only helpful in an emergency. Many lawyers make a lot of money from clients who hire them in panic mode – when they’re being […]

New Rules for Nonprofits

January 25th, 2015 by

As one of my clients discovered the hard way, many states have charitable solicitation registration laws.  As of January 1, 2014, Nevada is one of these states.  Assembly Bill 60 requires a nonprofit corporation to register with the Nevada Secretary of State before it begins soliciting or accepting tax-deductible donations within the state. Organizations may […]

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