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Nevada Business Licensing Information
- Basic business licenses cost $200 per application in Nevada. Extra industry-specific licenses may apply for gaming, food, beverages, and entertainment. Most licenses stay valid for 1 year.
- The State Business License Fee is $500 for Corporations and $200 for other types. It must be renewed annually. The cost is $200 per year for Sole Proprietors and General Partnerships, $400 per year for LLCs and Corporations.
Starting a Sole Proprietorship in Nevada
- The filing fee for a sole proprietorship in Nevada is around $20, but it may vary from county to county.
- Some bars and restaurants will need zoning permits and liquor licenses which will cost extra fees.
Advantages and Disadvantages of Sole Proprietorship
- The sole proprietorship is the simplest and most common business structure.
- Disadvantages include personal liability for business debts and obligations, and significant responsibility handling the business.
Sole Proprietorship Setup Information
- A DBA isn’t a Sole Proprietorship.
- A sole proprietorship is a business entity run by one person and is the cheapest and easiest way to set up a business in Nevada.
- Sole proprietors, like Nevada corporations, don’t have to pay certain taxes but may be required to pay others.
Cost Information for Sole Proprietorship
- It costs $31 to register a sole proprietorship online with the Department of Revenue, and $50 if you register by mail.
Establishing Sole Proprietorship in Other States
- There are no formal registration costs to start a sole proprietorship in Indiana.
- Understanding the taxation obligations specific to a sole proprietorship in Indiana is vital. Business income and expenses will be reported on your personal tax return.
