Nevada Business License Fee Increase Effective July 1, 2015

Effective July 1, 2015, the Nevada Secretary of State is raising its fees for initial and annual lists, and business licenses for corporations, per NV Senate Bill 483.

The fee for initial and annual lists is increasing by $25 across the board, including for nonprofit corporations. For example, LLCs currently pay a $125 list fee. As of July 1, that number is now $150.

The Nevada business license fee increase only affects domestic and foreign profit corporations, but it’s a doozy. The annual business license fee is increasing from $200 to $500. The state business license fee stays at $200 for all other entity types.

Lastly, Nevada is changing the name of this filing from “State Business License” to “State Business Registration.”

What does this mean for my business?

If you have a Nevada corporation, Senate Bill 483 is a tough piece of legislation. A $500 annual state business registration plus $150 annual list of officers and directors makes Nevada one of the most expensive states to maintain an entity. And, if you don’t file either of these documents on time, the state adds hundreds in penalties, and can revoke your corporate good standing.

If you have a different entity type, the news isn’t as bad. However, as Senate Bill 483 demonstrates, state legislatures can raise fees by tremendous amounts at any time.

Ultimately, if you have a business in Nevada, whether you make a dime or not, you’ll have to pay the state, or face consequences for noncompliance. A fee hike of any kind is yet another reason to file on time!

If you manage annual reports in house, or are overwhelmed by tracking due dates and fees in multiple states, see how Harbor Compliance can make your life (and compliance!) easier. Visit our managed annual report page to learn more.