Form a Partnership in Nevada
Everything you need to know about forming a Partnership in Nevada. Filing fees, requirements, timeline, and step-by-step guidance.
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How to File
Choose Your Partnership Type
Decide between a General Partnership (GP), Limited Partnership (LP), or Limited Liability Partnership (LLP), as each has different liability protections and filing requirements in Nevada. GPs require no state filing, while LPs and LLPs must register with the Nevada Secretary of State.
1-2 hours
Select and Reserve a Business Name
Choose a unique business name that complies with Nevada naming rules; LPs must include 'Limited Partnership' or 'LP' in the name, and LLPs must include 'Limited-Liability Partnership' or 'LLP.' Search the Nevada Secretary of State business name database to confirm availability before filing.
30 minutes
Designate a Registered Agent
Appoint a Nevada registered agent with a physical street address in Nevada who is authorized to receive legal and official documents on behalf of the partnership. The registered agent can be an individual Nevada resident or a registered commercial agent service.
30 minutes
File Formation Documents with the State
For an LP, file a Certificate of Limited Partnership with the Nevada Secretary of State along with the $100 filing fee and the initial list of general partners with a $125 fee. LLPs must file a Registration of Limited-Liability Partnership; General Partnerships are not required to file with the state but should register a trade name if operating under a fictitious name.
1-2 hours
What's Next After Filing
Once your Partnership is officially formed, you'll want to complete these important steps:
- •Draft a Partnership Agreement — Although not legally required in Nevada, a written partnership agreement is strongly recommended to define each partner's roles, profit and loss sharing, decision-making authority, and procedures for adding or removing partners. This document governs the internal operations of the partnership and can prevent future disputes.
- •Obtain an EIN and Open a Business Bank Account — Apply for a Federal Employer Identification Number (EIN) from the IRS for free at IRS.gov, which is required for tax filings, hiring employees, and opening a business bank account. Use the EIN to open a dedicated business bank account to keep partnership finances separate from personal finances.
- •Obtain Required Business Licenses and Permits — Nevada requires most businesses to obtain a State Business License from the Secretary of State for an annual fee of $200, and local business licenses may be required by the county or city where the partnership operates. Check with the Nevada Department of Taxation and local authorities for industry-specific permits or licenses.
Advantages
- ✓Nevada has no state personal income tax, meaning partners pay no state tax on their share of partnership income, making it highly tax-advantaged.
- ✓Simple and low-cost formation, especially for General Partnerships which require no state filing and minimal startup costs.
- ✓Pass-through taxation avoids double taxation, with profits and losses flowing directly to partners' personal federal tax returns.
- ✓Nevada offers strong privacy protections, as General Partners are not always required to be publicly listed depending on structure, and the state has favorable business laws.
Considerations
- •General partners in a GP or LP have unlimited personal liability for the debts and obligations of the partnership, putting personal assets at risk.
- •Partnerships can be less stable than corporations or LLCs because the death, withdrawal, or bankruptcy of a partner can trigger dissolution under default state rules.
- •Nevada's annual State Business License fee ($200) and LP annual list fee ($125) add ongoing costs that some states do not impose on simple partnerships.
Annual Obligations
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