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ITINs, EINs, and Responsible Parties

ITIN EEN

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 […]

WTF(LSA) – New FLSA Regulations

Business Regulations Nevada

Goodness gracious.  Every time I think regulations affecting small businesses can’t get any more onerous, I’m proven wrong. From the ACA to state and local regulations that place a disproportionate (IMO) burden on employers to prove their compliance with the law, it seems to be getting more and more arduous to run a small business. […]

Changing from Corporation to LLC in Nevada

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. […]

Nevada Consumer Use and Sales Tax Returns

If you’re doing business in Nevada, you have to register with the Nevada Department of Taxation for either a sales tax permit or a use tax permit.  If you’re selling tangible goods, you’ll need a sales tax permit. If you aren’t, like many service providers, you’ll need a consumer use tax permit. With a sales […]

Benefit Corporations

On January 1, 2014, the Nevada Secretary of State began accepting filings for a new entity, the benefit corporation, or “B corp.” Officers and directors of traditional corporations labor under a fiduciary obligation to turn a profit for shareholders.  A corporation’s failure to do so can result in a shareholder derivative suit, where the individual […]

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