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Legislative Changes in Nevada

Below is information we recently received through the National legislative changes in nevadaPublic Records Research Association (NPRRA) concerning legislative changes in Nevada. As an active member of the NPRRA, one of the many benefits is the continuous flow of information such as this between members regarding changes in policy, law, and processing of public records searching and filing across the US.

Notice of 2017 Legislative Impacts The 2017 Legislative session imposed several changes to certain requirements within Title 7 of the Nevada Revised Statutes. Below is a highlight of the changes. For further information and a complete list of bills, please refer to the Nevada Legislature website at: https://www.leg.state.nv.us

Assembly Bill 6 – Effective July 1, 2017 Removes an exemption from the requirement to obtain a state business license for businesses whose primary purpose is to create or produce motion pictures.

Assembly Bill 123 – Effective October 1, 2017 Revises provisions governing initial and annual lists and revises provisions relating to a series created by a limited-liability company. Each new business entity subject to Title 7 of the Nevada Revised Statutes shall file an initial list at the time of filing its organizational documents. If an amended list is filed within 60 days after the initial list is filed, the business entity shall not be required to pay a fee. If the articles of organization or operating agreement of a limited-liability company creates one or more series, the registered agent of the company shall be deemed to be the registered agent for each series of the limited-liability company. Each series may be served with any legal process, notice or demand required or authorized by law by serving the registered agent of the limited-liability company which authorized the creation of the series.

Senate Bill 41 – Effective October 1, 2017 Revises provisions governing the examination of the records required to be maintained by registered agents and revises the provisions governing the examination of records required to be maintained by certain business entities. The Secretary of State may conduct periodic, special or any other examinations of any records required to be maintained pursuant to this chapter or any other provision of NRS pertaining to the duties of a registered agent as the Secretary of State deems necessary or appropriate to determine whether a violation of this chapter or any other provision of NRS pertaining to the duties of a registered agent has been committed. Upon the request of the Secretary of State, a limited liability company shall provide the Secretary of State with the name and contact information of the custodian of records, if different from the registered agent for such company. Each limited partnership shall continuously maintain a principal office in this State, which may but need not be a place of its business in this State, or a custodian of records whose name and street address is available at the limited partnership’s registered office. A limited partnership shall maintain at its principal place of business in this State or with the custodian of records a current list of the full name and last known business address of each partner, separately identifying the general partners in alphabetical order and the limited partners in alphabetical order.

Assembly Bill 423 – Effective January 1, 2018 The Secretary of State shall work in consultation with the Nevada Commission for Women to design and conduct an annual survey of businesses in this State for the purpose of collecting data and information related to issues of gender equality in the workplace. The survey shall be offered through the state business portal at the time the business submits an online application or renewal for a state business license. The Secretary of State shall make the voluntary responses electronically available and searchable on the Internet website of the Office of the Secretary of State and shall annually compile the responses into a report and submit the report to the Governor and to the Director of the Legislative Counsel Bureau.

Assembly Bill 436 – Effective January 1, 2018 The Secretary of State shall ensure that the state business portal enables a person who applies for the issuance or renewal of a state business license to indicate whether the applicant is a minority-owned business, a woman-owned business or a veteran-owned business and shall provide information electronically concerning programs to provide financing for small businesses and information concerning the process by which the business may become certified as a disadvantaged business enterprise. The Secretary of State shall include and maintain the same information on its Internet website. The Office of Nevada Secretary of State

If you have any questions about how the legislative changes in Nevada may affect you or if you need assistance with forming or maintaining your entity in Nevada, please don’t hesitate to contact us.

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Did you know?

Did you know?

nevada

Here’s an informational fact that you might not know about Nevada. The Nevada Secretary of State’s office requires all foreign corporations to publish an Annual Statement in two Nevada newspaper publications. They require the Annual Statement to be published no later than the end of 3rd month following the close of their fiscal year and then each year after, prior to March 1st.

For more information on Foreign Corporation Publication Requirements in Nevada, click here.

If you have questions or need assistance, do not hesitate to contact us.

Thanks for reading,

Gennine

Gennine Cooper is a Marketing Associate in our Dover, Delaware office.

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Business License Fee Increase in Nevada

Effective July 1, 2015, Senate Bill 483 will go into effect in Nevada. The Nevada Secretary of State’s office will be implementing the following changes:

  • The annual State Business License fee for corporations will increase from $200 to $500.   All other entity types will remain at $200 per year.
  • The fee for Initial and Annual Lists will increase by $25 for all types.

Any Annual or Initial Lists or State Business License application due by the end of August, 2015 or earlier, received prior to July 1, 2015 will be assessed the pre-July fees.

The fees for Annual or Initial Lists or State Business License applications, reinstatement and revivals received after July 1, 2015 will be calculated based on the new fees, even if for prior years.

Also as of July 1st, State Business License will be referred to as the State Business Registration. To read Senate Bill 483 in its entirety click here.

Gennine Cooper is a Marketing Associate in our Dover, Delaware office. To learn more about Gennine read her bio here.