Nevada LLC

[Keri A.]

I live in Texas but I have been told it is beneficial to set up my LLC in Nevada because they have better liability protection. it would require more money as I would have to qualify it in TX...is it worth it?

[Shawn Dandridge]

I currently have a Nevada LLC. The Secretary of State just imposed that LLC's now required to buy a business license in Nevada, even if you do no business there. There used to be exemptions. The total cost of ownership per year would be the business license which is $250 and the annual list of officers which is $125 plus a registered agent fee since you don't live in the state which runs roughly $100 a yr as well. Not worth the cost since my LLC just holds membership units in a foreign llc. You can get the same iron clad protection that a NV LLC offers in Wyoming for $200 a year.