In order to be a viable Nevada Limited Liability Company (LLC) you need only file Articles of Organization with the Nevada Secretary of State. However, if there is more than one owner of the LLC, running your business without an Operating Agreement (OA) is like lying naked by your pool for the whole month of July without sunscreen. You are going to get hurt; ill; you may die; and you will surely regret it.

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As a business owner, you are no doubt a planner.  You plan for the start of your business.  You plan for each expansion of your business.  You plan when you are going to hire more staff or buy new equipment.  But have you planned your exit strategy?

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As you may be aware, the 2015 Nevada Legislature and Governor Sandoval created a new gross receipts tax that affects Nevada businesses. The tax has commonly been referred to as the “Commerce Tax” and will impact all Nevada businesses. Although the tax will only be due on gross receipts that exceed $4,000,000, all Nevada businesses will be required to report to the State. This may seem like old news, but as with all things, the devil is in the details. You have the ability to have your voice heard and have the State take your business concerns into account as the details are being created.

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