Bill
AB 373
The bill cuts several Nevada LLC fees to 25 for newly formed LLCs naming an initial manager or member who received unemployment benefits within 7 days before filing, and also lower
Status: Chaptered — Approved by Governor (Chapter 146, Statutes of 2025)
Summary
This bill reduces several Secretary of State filing and license fees for newly formed limited‑liability companies (LLCs) when the articles of organization name an initial manager or member who received unemployment compensation within the 7 days immediately before filing. It also reduces the fee to dissolve an LLC in certain circumstances.
Purpose / intent
Encourage entrepreneurship by lowering the upfront cost of forming and dissolving an LLC for people recently receiving unemployment benefits, easing the transition from unemployment to self‑employment.
Key provisions
- Fee reductions for qualifying LLCs:
- State business license issuance fee (NRS 76.100): reduced from $200 to $25 when the LLC’s original articles of organization include an initial manager or member who received unemployment compensation within the 7 days preceding filing.
- Initial list filing fee (NRS 86.263 and related provisions): existing law requires an initial list with the Secretary of State (historically $150); the bill reduces the filing fee to $25 for qualifying LLCs (as described above).
- Articles of organization filing fee (statutory references in Legislative Counsel’s Digest): existing filing fee (historically $75) is reduced to $25 for qualifying filings.
- Dissolution fee reduction:
- Fee for filing articles of dissolution (existing law historically $100) is reduced to $25 (Section references in bill text).
- Eligibility condition:
- The reduced fees apply only if the LLC’s original articles of organization explicitly include an initial manager or member who received unemployment compensation within the 7 days immediately before filing.
Who is affected
- Primary beneficiaries: individuals who recently received unemployment compensation and who form an LLC naming such a person as an initial manager or member.
- Secondary impacts: Secretary of State administration (processing fee exemptions/discounts); potential minor reduction in state fee revenue relative to baseline.
- No direct effect on local governments (bill’s fiscal note: no local government effect; state fiscal effect noted).
Fiscal and administrative notes
- Fiscal note summary included in bill materials: Effect on Local Government — No; Effect on the State — Yes (reduced state receipts).
- Implementation requires the Secretary of State to administer the reduced fee rules and verify the eligibility condition as part of filings.
Legislative timeline (selected)
- Introduced: Feb 3, 2025
- Passed Legislature: Assembly and Senate (reads and committee actions in spring/summer 2025)
- Enrolled and presented to Governor: Sept 9, 2025
- Approved by Governor and chaptered: Oct 1, 2025 (Chapter 146, Statutes of 2025)
Notes
- The bill amends multiple provisions of Nevada law (NRS chapters governing business licensing and LLC registration).
- The fee reductions are narrowly targeted to promote business formation by people recently collecting unemployment benefits; they are not a blanket reduction for all entities.
Compiled from official sources — confirm details with the bill’s official record.
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