How to Start a Series LLC in Nevada

A Nevada Series LLC is a special type of limited liability company that consists of a parent LLC and one or more divisions, called “series,” within itself. Each series can have its own business purpose, assets, finances, and—if properly formed and maintained—limited liability.

This means that in the case of a lawsuit, the parent LLC typically won’t be held liable for the debts of any of the series within it. Likewise, each series is protected from the liabilities of other series and the parent LLC. If formed and maintained correctly, a Series LLC can separate and protect multiple business assets in the event that another part of your organization is sued.

Series LLCs are offered in more than a dozen states. To learn about the Series LLC business structure in general, which states allow it, and the main steps involved in starting a Series LLC, see our Series LLC Guide.

To form a Nevada Series LLC, you must submit the Nevada Series LLC Articles of Organization, the Initial List of Managers or Managing Members, and the State Business License Application to the Nevada Secretary of State. These articles can also be used to form a PLLC or register a foreign LLC or PLLC, so check the box for “Articles of Organization – Limited Liability Company” at the top. See the document below and instructions for how to fill it out.

How much does it cost to start a Nevada Series LLC?

It costs $425 total to form a Nevada Series LLC. Here’s a breakdown of the fees:

Articles of Organization: $75
Initial List of Managers or Members: $150
Nevada State Business License Application: $200

You can pay by check, money order, or credit card.

How long does it take to form a Nevada Series LLC?

Online filings are usually processed within a day of being received, but you may be looking at around a month-long wait if you file with a paper form.

Does a Nevada Series LLC need a registered agent?

Yes. Per NV Rev Stat § 86.231, all Nevada LLCs need a registered agent. Your registered agent is your business’s official point of contact for important legal mail and correspondence from the Nevada Secretary of State. For a lawsuit to move forward in the courts, a business must be properly notified. When your registered agent is “served,” your business is considered legally notified. That’s a serious responsibility that we don’t take lightly.

Does each series of a Nevada Series LLC need its own registered agent?

No. Each series in your Nevada Series LLC shares a registered agent with the parent LLC.

Your Nevada Series LLC operating agreement is an internal document that describes how your LLC is structured, who owns it, which members are associated with which series, and how your LLC will handle disputes, among other issues. Per NV Rev Stat § 86.296, members can create a new series by adopting an operating agreement for that series.

How do I write a Nevada Series LLC Operating Agreement?

If you’re not a lawyer or a legal prodigy, writing a Nevada Series LLC operating agreement from scratch is going to be pretty tricky. Hire us and we’ll provide you with a general template for crafting your own operating agreement.

Does my Series LLC need an EIN?

Yes. An EIN is necessary for hiring employees, changing your tax designation, getting a business license, and opening a business bank account. You can apply for an EIN through the IRS website.

Should I get a separate EIN for each series in my Nevada Series LLC?

Yes. To maintain your Nevada Series LLC’s limited liability, you need to maintain separate finances for each series. That means opening separate bank accounts for each series. For separate bank accounts, you need separate EINs.

To open a bank account for your Nevada Series LLC, you’ll need to bring to the bank:

• A copy of your Nevada Series LLC Articles of Organization
• Your Series LLC operating agreement
• Your Series LLC’s EINs

If your Series LLC has more than one member, you might want to bring an LLC resolution to open a bank account stating that the person opening the account on behalf of the LLC is authorized to do so by the other members.

Nevada requires a state business license and the application is included with the Articles of Organization. You’ll have to renew your Nevada state business license each year.

Depending on where your business is located in Nevada, you may also need to obtain a business license on the local level. For example, Washoe County requires a county-level business license for businesses operating in unincorporated parts of the county; the City of Reno requires a business license to do business in the city.

Every year, your Series LLC will need to file the Nevada Annual List and State Business License Application. A Series LLC will need to pay $350 total ($150 for the Annual List and $200 for the Business License Application). Luckily, Series LLCs only need to file one Annual List and State Business License Application, not one for each series.

Learn more with Northwest’s Nevada Annual Report Service & Filing Instructions.