Do you own a business operating in the state of Nevada? If so, you may need to acquire licenses and permits to ensure that your company operates in a compliant fashion.
But how do you determine which permits and licenses you need (if any), and where do you acquire them? In this guide to Nevada business licenses and permits, we’ll answer all the tough questions about this process.
Are There Federal Licenses That My Business Needs?
First off, let’s discuss the matter of federal licenses and permits. There are many business activities that are regulated by various federal agencies, from agriculture to transportation and logistics. We recommend taking a look at the U.S. Small Business Administration’s guide to federal licenses and permits to make sure you’ve got your bases covered.
In addition, most businesses should acquire a federal tax ID number, also known as an EIN (employer identification number). This is essentially a social security number for your business, and it enables you to hire employees, pay business taxes, open business bank accounts, and more. You can acquire an EIN from the IRS for free.
What State-Level Licenses and Permits Apply in Nevada?
In Nevada, every business must apply for and maintain a State Business License. You can start the application process right here. The filing/renewal fee is $500 per year for corporations, and $200 per year for all other business types.
In addition to Nevada’s State Business License, there are a variety of professional, environmental, and industry-specific licenses that your business may need to obtain. Thankfully, Nevada business owners can easily determine which licenses and permits they need to apply for by using the New Business Checklist. For more information on acquiring one of these licenses, consult the Guide to Starting and Growing a Business in Nevada.
Which Tax Registrations are Required for Nevada Businesses?
In addition to occupational licenses and permits, there are a number of state-level tax registrations, which are based on the industry you operate in and which business structure your company uses.
Every Nevada business that registers for Unemployment Compensation with the Employment Security Division (i.e. every Nevada business with employees) is automatically registered for the Modified Business Tax. For most businesses, the Modified Business Tax applies a 1.475% tax on wages. Additionally, Nevada corporations must pay corporate income tax.
There are many industry-specific tax registrations in the state of Nevada, from the Live Entertainment tax to the Real Property Transfer tax. You can learn more about industry-specific taxes on the Department of Revenue website.
Are There Local Licenses, Permits, or Registrations in Nevada?
The answer to this question obviously depends on where in Nevada you’re operating your business, but there are indeed quite a few licenses, permits, and tax registrations required by Nevada localities.
Local business licenses are managed at the city or county level. You will need to contact the city or county clerk in your area for more information. Here is a list of jurisdictions in the state, with links to their websites.
If we were to break down the exact rules and regulations regarding permitting in every locality in the state of Nevada, this article would become excessively lengthy. With that in mind, we’ll simply say that every business owner should check with their local government to determine whether there are licenses, permits, or tax registrations required to operate in compliant fashion.
Can I Hire Someone to Research Licenses and Permits for My Business?
If this process sounds like a bit of a hassle, that’s because it certainly can be. If you would rather hire a reputable business services provider to handle this for you, that is always an option.
Companies like Incfile can research the necessary licenses and permits for your company on the federal, state, county, and municipal levels. They will then send you the applications you need to acquire these permits and licenses, meaning all you need to do is fill them out and mail them in.
There is no one-size-fits-all answer for the question of which licenses and permits your business might require to operate in the state of Nevada. Instead, it’s important that you know how to access the resources to determine which permits your company needs to operate in a compliant fashion.
We hope this article helped you to do just that, and we wish you good fortune in your business future!