Business Licenses and Permits:: Published by Corporation Service Company » Blog Archive

Business creation in Nevada is down as the state has taking a severe beating from the ongoing recession. New entity filings including incorporations, limited liability companies and partnerships have plummeted 25 percent over the last two years.

In 2008 there were 72,893 new entity filings. But in 2009 that number fell to 62,907, and through June of 2010 there have only been 54,932 new filings. One of the biggest factors in the decline has been the crash of the housing market, as Nevada has been one of the hardest hit states.

The lack of filings has hurt the total revenue collected by the state. In 2008 $82.8 million was collected by the Secretary of State Office. In 2009 only $74.7 million was collected, and the just-ended fiscal year of 2010 only saw $70.1 million collected once business license fee totals are subtracted.

Ryan Julson, Business License Research Analyst, Corporation Service Company