After successfully registered in Nevada, the Corporation or LLC are required to operate in compliance with the General Corporation Law/Limited Liability Company Act of the State of Nevada. The following describes the Nevada company’s basic maintenance requirements.
All Corporation and LLCs must have and maintain a registered agent, which has a physical street address in Nevada. You must file annual list with the Nevada Secretary of State every year. The annual list is an update to your corporate information registered with the state. The annual list due date for all businesses will be the last day of the anniversary month of the entity's formation in Nevada. You are required to renew state business license annually. The fee and renewal form are due on the last day of the anniversary month in which the license was originally filed. If you have local business license, you must renew the local business license/permit periodically. The license expiration date is printed on the license.
According to Federal and State tax rules, all active business registered in Nevada must file tax returns on time, including business income tax, sales tax, payroll tax and other relevant taxes returns.
Although Nevada state does not impose a state corporate income tax, you are still required to file business income tax (if your gross revenue over USD 4,000,000 during the taxable year); if you plans to sell certain tangible personal property and provide taxable services within Nevada, you have to pay the Nevada sales/use tax; if you have employees within Nevada, you have to report gross wages to the Nevada Employment Security Division and contribute to Unemployment Insurance Tax(UI).
According to Internal Revenue Code, the payments that certain foreign persons receive from U.S. sources, are subject to tax withholding. And they must report the amount withheld to IRS, if any. If a business entity in US held bank or financial account out of US, the entity maybe required to file FBAR with Department of Treasury, or FATCA related forms with IRS.
You are also required to maintain and update the accounting books in accordance with the tax and business law
As discussed above, all active Nevada Corporations and LLCs are required to operate in compliance with the Nevada business laws. The business entities may also need to apply for the license and permits with state according to different industries. Kaizen U.S. office is a professional CPA firm, offers complete compliance services and business support, such as bookkeeping, filing tax return, making payroll, etc.
All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.
The IRS Schedule C (Form 1040) is commonly utilized by individuals to submit their individual income tax returns, disclosing their annual income, and determining the taxable portion after accounting for tax deductions and credits. The following will talk about entities that are required to report on Schedule C, as well as the specific deductions applicable to Schedule C.
Maintaining accurate and organized records is a crucial obligation for small business proprietors, irrespective of the size of their workforce, the nature of their services, or the type of business entity. Recordkeeping involves the systematic and methodical storage of business documents. The subsequent section examines the significance of recordkeeping for small businesses and outlines the recordkeeping requirements stipulated by the IRS.
After an extensive search and evaluation process, you have identified a suitable candidate for the position. The next step in the hiring process is to extend an offer of employment to the selected candidate. At this stage, it is essential to act promptly, proactively contacting the chosen candidate, drafting an offer letter, considering a counteroffer if necessary, and conducting pre-employment checks. This is a complex process, and it is crucial to handle the offer with care.
The inquiries posed by HR during a job interview may lead to legal complications for the organization if specific protocols are not adhered to. Even seemingly benign questions have the potential to trigger a discrimination lawsuit. This article aims to provide a concise overview of the types of questions commonly asked by U.S. companies when interviewing job candidates.
