Nevada Limited Liability Company Pre-Organization Kit
Avoid the common pitfalls of starting up a limited liability company by using our Pre-Organization Kit.
By using the included worksheets and checklists, you will have before you all of the basic data you will need to complete your organization paperwork. But perhaps even more important, by using this kit you will also uncover any potential differences of opinion among the organizers.
Often, conflicts and demands are not known until the actual process of determining the company’s structure begins. Frank discussions regarding the questions of voting rights, distribution of profits, amounts of contributions, and other management decisions often will enable potential associates to resolve many of the difficult problems of company management in advance, thereby avoiding much larger and more costly problems in the future.
The use of a written worksheet will also provide all persons involved with a clear and permanent record of the issues discussed and the decisions made, which may be important as your company grows.
Included in this packet are the following:
· Instructions for completing Pre-Organization Worksheet
· Pre-Organization Worksheet
· Pre-Organization Checklist
· Document Filing Checklist
This Kit has been designed for use in Nevada.
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Nevada Limited Liability Company Pre-Organization Kit
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Nevada ent (mandatory) Articles of Dissolution (mandatory, if applicable) Any other required state forms
y Company Name (if desired) Articles of Organization (mandatory) Amendments to Articles of Organization (mandatory, if applicable) Annual Company Reports (mandatory) Change of Address of Registered Agnce requirements Prepare company accounting ledgers Prepare company record book (looseleaf binder)
LLC Document Filing Checklist Nevada
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Application for Reservation of Limited Liabilitw Articles of Organization prior to filing Review tax impact of organization with an accountant Check state tax, employment, licensing, unemployment, and workers compensation requirements Check insurasheet Check annual fees and filing requirements Reserve company name, if desired, by filing with the state. Prepare Articles of Organization Prepare Operating Agreement If desired, have attorney revie________
LLC Pre-Organization Worksheet
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LLC Pre-Organization Checklist Nevada
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Write state limited liability company office for information Complete Pre-Organization Work____________________________________________ Amendments to Operating Agreement (majority/%/unanimous?): _________________________ ______________________________________________________________________on of limited liability company: ____________________________________________ Amendments to Articles of Organization (majority/%/unanimous?): _______________________ _______________________________________________________________ Insurance needs: ________________________________________________________________ New members: _________________________________________________________________ Terminati______________________ ________________________________________
Transfer of membership interests: _________________________________________________ Expulsion of members: _____________________________Salaries of members: Name ___________________________________ ___________________________________ ___________________________________ Salary ________________________________________ __________________inancial authority : Name ___________________________________ Authority to Do ________________________________________
Loans to members: _____________________________________________________________ us?): __________________________ Fiscal Year: ___________________________________________________________________ Accounting type (cash or accrual?): ________________________________________________ F______________________________ Annual members meeting: Place ______________________________________ Date ____________________ Time _____________
Required vote for members actions: (majority/%/unanimoalification in other states necessary? ____________________________________________
LLC Pre-Organization Worksheet
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Company Operating Agreement
Required quorum for members meetings: _________________________________________ Proposed bank for company bank account: ___________________________________________ Cost of organization: ____________________________________________________________ Is qu___________________________________________ ________________________________________________ ________________________________________________
Proposed date of first members meeting: _________________________________ __________________________________________ __________________________________________
Proportionate Share of Profits and Losses
________________________________________________ _____fits and losses: _______________________________________ Initial indebtedness: $ _________________ Management of the company: Name
__________________________________________ ____________________________________________ ________________________________________________ ________________________________________________ ________________________________________________
Distribution and retention of pro________________________________________ __________________________________________ __________________________________________
Proportionate Share of Profits and Losses
______________________________ue _________________ _________________ _________________ _________________ _________________ _________________
Members' share of profits and losses: Name
__________________________________________ ______ _____________________________________ _____________________________________
Value _________________ _________________ _________________ _________________ _________________ _________________
Val____________ ________________ Cash/Property/Services _____________________________________ _____________________________________ _____________________________________ ______________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ ____te when due: Name ____________________ ____________________ ____________________ ____________________ ____________________ ____________________
Cash/Property/Services __________________________________
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Name ____________________ ____________________ ____________________ ____________________ ____________________ ____________________ Additional contributions: $ Daand office address: __________________________ ______________________________________________________________________________ Initial investment total: $ ________________ Date when due: _______________ _____________________________________ Phone _________________ _________________ _________________ _________________ _________________ _________________
Limited liability company's registered agent ___ Address _____________________________________ _____________________________________ _____________________________________ _____________________________________ ___________________________________________________________________________ Proposed members of the company: Name ____________________ ____________________ ____________________ ____________________ ____________________ ___________________ _________________________________ ___________________________________________ _________________________________ ___________________________________________ Number of proposed members: _____________ business: ___________________________________________ Names and addresses of those who will act as organizers: Name Address _________________________________ ________________________________________________________________________
Organization Matters
State of organization: Nevada Company existence (limited or perpetual?): __________________________________________ Proposed date to begin company_____________________________________________________________ State/local licenses required: ______________________________________________________ Patents/copyrights/trademarks: ________________________________________________________________
LLC Pre-Organization Worksheet
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Type of Business
Purpose of limited liability company: _______________________________________________ __________________ Other places of business: _________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________ Ownership of principal place of business (own or lease?): _______________________________ ______________________________________________________________________________________________________________________________________________ Description of principal place of business: ___________________________________________ _____________________________________________________________________ __________________________ __________________________
Location of Business
Address of principal place of business: ______________________________________________ ______________________ ________________________ ________________________ ________________________ ________________________ Phone __________________________ __________________________ __________________________ ___ny
Name _______________________ _______________________ _______________________ _______________________ _______________________ _______________________ Address ________________________ _______________ _______________________________________________________________ ______________________________________________________________________________
Parties Involved in Forming the Limited Liability Compaivision State Capitol Complex Carson City, NV 89710
Proposed Name of the Limited Liability Company
First choice: ___________________________________________________________________ Alternate choices:.
Instructions for LLC Pre-Organization Worksheet
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LLC Pre-Organization Worksheet Nevada
Name/Address of State Limited Liability Company Department:
Nevada Secretary of State Limited Liability Dd liability company will amend the Articles of Organization. Amendments to Operating Agreement: Here should be the determination of how the limited liability company will amend its Operating Agreementnsiderations relating to the dissolution of the limited liability company that you may wish to be considered. Amendments to Articles of Organization: Here should be the determination of how the limiterance. New members: Will new members be allowed in the company? Here note the terms and conditions for their entry. Termination of limited liability company: How will the company end? Here list any co that you will need, ranging from general casualty to various business liability policies. Also consider the need for the members or the company to provide the members with life and/or disability insuajority consent of the other members. Expulsion of members: Here you should consider the terms and conditions for the removal of members. Insurance: Under this heading, consider the types of insurancewhether and how members are to be allowed to transfer their ownership interests in the limited liability company to third parties. This may range from "not at all" to "freely" or may be unanimous or mes to members: Here you should decide if the members will earn a salary for their work on behalf of the company. Transfer of membership interests: Under this listing, a decision should be noted as to liability company.
Instructions for LLC Pre-Organization Worksheet
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Loans to members: In this item, decide if you wish the company to have the ability to make loans directly to its members. Salari competent accounting professional. Financial authority: Here list the authority of each proposed member to sign checks, borrow money in the company name, or sign documents in the name of the limited ous. Fiscal year and accounting type: For accounting purposes, the fiscal year and accounting type (cash or accrual) of the limited liability company should be chosen in advance. Please consult with aote in the affirmative in order to officially pass any member business. This is normally set at a "majority" (more than 50 percent), although this figure can be set higher and can be made to be unanimcified. Required vote for member action: Once it is determined that a quorum of members is present at a meeting, this is the percentage of ownership shares of the limited liability company that must v business. This is normally set at a "majority" (over 50 percent), although this figure can be set higher. Annual members meeting: The date, time, and place of the annual members meeting should be spey. Required quorum for members: This is the percentage of ownership of shares in the limited liability company that must be represented at a members meeting in order to officially transact any companyreferred to as a "foreign" limited liability company. If you desire that your limited liability company qualify for activities in another state, you are advised to consult a competent business attorneility company in that state. This generally requires obtaining a Certificate of Authority to Transact Business from the other state. In this context, a limited liability company from another state is s. Out-of-state qualification: If the limited liability company desires to actively conduct business in a state other that the main state of organization, it is necessary to "qualify" the limited liab. This cost should also reflect the cost of obtaining professional assistance (legal or accounting); the cost of procuring the necessary supplies; and any other direct costs of the organization proceshe first members meeting. Cost of organization: The state fee for organization in Nevada is a filing fee of $75. (Please note that a complete fee schedule is available at the web address listed above)unt: In advance of organization, you should determine the bank which will handle the company accounts. Obtain from the bank the necessary bank resolution form, which will be signed by the members at tst members meeting: This will be the date proposed for holding the first meeting of the members, at which the company Operating Agreement will be officially adopted Proposed bank for company bank accony: If the business is to be managed by members only, or members and managers, or managers only, note the decision here. Also note who will actually comprise the management of the company. Date of fires to each partner. If the company will retain a portion of the profits for reinvestment, note that here.
Instructions for LLC Pre-Organization Worksheet
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Management of the limited liability compad not, be based on the amount of the contributions of the members to the company. Distribution of profits and losses: Here decide how the limited liability company will distribute its profits and losst here. Share of profits and losses: Under this heading is noted how the members decide in what proportions the profits and losses of the business will be distributed to the members. This may, but neeanned additional member contributions of money, services, or property, list them here. Initial indebtedness: If there is to be any initial indebtedness for the limited liability company, please list i the limited liability company. This is also referred to as "paid-in capital." List also the dates on which the contributions are to be made. Additional contributions by members: If there are to be plThis figure is the total amount of money or property that will be transferred to the limited liability company upon its beginning business. This transfer will be in exchange for ownership interests inimited liability company. The registered agent need not be a lawyer. Normally, the main owner or the attorney of the limited liability company is selected as the registered agent. Initial Investment: as the agent of the limited liability company for the service of process (that is: to accept subpoenas or summons on behalf of the limited liability company). The person need not be a member of the less: Here you should list the name and actual street address of the person who will act as the registered agent of the limited liability company. All states require that a specific person be availableresses of the proposed members of the company. In Nevada, it is required that these names and addresses be stated in the Articles of Organization. Limited liability company's registered agent and addr members: In Nevada, the minimum number of members for a limited liability company is one. Members may be natural persons or business entities. Proposed members: Here you should list the names and addy. Organizers: This should be the person (or persons) who will prepare and file the Articles of Organization. In Nevada, an organizer need not be a natural person, nor need they be a member. Number ofpproves the Articles of Organization), the organizers of your limited liability company will continue to be legally liable for any business conducted on behalf of the proposed limited liability compan
Proposed date to begin company business: This should be the date on which you expect the limited liability company to begin its legal existence. Until this date (actually, until the state formally ass. Company existence: The choices here are perpetual (forever) or limited to a certain length. In virtually all cases, you should choose perpetual.
Instructions for LLC Pre-Organization Worksheet
1sferred into the limited liability company, they should be noted here. State of organization: In general, the limited liability company should be organized in the state in which it will conduct busineetent local attorney for details regarding the types of licenses required for your locality and business type. Patents/copyrights/trademarks: If patents, copyrights, or trademarks will need to be tran all limited liability companies. Additionally, certain types of businesses will require health department approvals, state board licensing, or other forms of licenses. If necessary, check with a compfic requirements for licenses to operate your type of business. Most states require obtaining a tax ID number and a retail, wholesale, or sales tax license. A Federal tax ID number must be obtained byl-purpose" business purpose clause in describing the main activity of the business; for example, "to conduct any and all lawful business." State/local licenses required: Here you should note any speci It may not be a post office box. If the limited liability company is homebased, this address should be the home address. Purpose of limited liability company: All states provide for the use of an "al all of the people who are involved in the planning stages of the limited liability company. Principal place of business: This must be the address of the actual physical location of the main business.ed Liability Company," "Limited Company," or "Limited Co.," or the abbrevations "LLC," "L.L.C.," "LC" or "L.C." Parties involved: This listing should provide the names, addresses, and phone numbers ofclearly explain the business of the limited liability company through the choice of name. In Nevada, a company name may be reserved for 90 days for a fee of $25. The name must contain the words "Limitname is often crucial to the success of a limited liability company. The name must not conflict with any existing company names, nor must it be deceptively similar to other names. It is often wise to on will save you time and trouble. Please note that you can also download state forms and fee schedules at http://secretaryofstate.biz/comm_rec/crforms/llc_index.htm. Company name: The selection of a information on organization of a business limited liability company in the State of Nevada, as state laws and fees charged for organization are subject to change. Having the latest available informatirganization Worksheet - Nevada
Address of state limited liability company department: The address is listed on the Worksheet. You should write to this department immediately, requesting all available liability, or tort (including negligence or otherwise) arising in any way out of the use of these materials. An attorney should be consulted for all serious legal matters.
Instructions for LLC Pre-Ong, but not limited to, procurement of substitute goods or services; loss of use, data, or profits; or business interruption) however caused and on any theory of liability, whether in contract, strict partners, or affiliates, or ii) the providers, authors or publishers of the forms, be responsible or liable for any direct, indirect, incidental, special, exemplary, or consequential damages (includinties of merchantability, suitability or completeness for any of the materials for your particular needs. The materials are used at your own risk. In no event will: i) FindLegalForms, Inc, its agents, The purchase and use of these materials is subject to the "Disclaimers and Terms of Use" found at findlegalforms.com. These materials are provided "AS-IS." We do not give any express or implied warraecretary of State or visit their website at http://sos.state.nv.us. Disclaimer No Attorney-Client relationship is created by use of these materials. FindLegalForms, Inc. does not provide legal advice.et Pre-Organization Checklist Document Filing Checklist
Note: Please note that the state specific information provided in this packet may change. To ensure its accuracy, please contact your state's Sthe company with vital support for later decisions that may be required. Included in this kit are the following: · · · · Instructions for completing Pre-Organization Worksheet Pre-Organization Worksheoblems of company management in advance. The use of a written worksheet will also provide all persons involved with a clear and permanent record of the information. This may provide the principals of s regarding the questions of voting rights, distribution of profits, amounts of contributions, and other management decisions often will enable potential associates to resolve many of the difficult pr the persons who are desiring to form the limited liability company. Often, conflicts and demands are not known until the actual process of determining the company's structure begins. Frank discussion company's purpose, structure and governance prior to organization within the State of Nevada. The process of preparing this worksheet will also help uncover any potential differences of opinion amongInformation LLC Pre-Organization Kit Nevada
Provided under agreement with copyright holder, © Nova Publishing Company 2004
This kit provides tools for determining the details of a limited liability Nevada
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