How to Syndicate an Apartment Deal in Nevada

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What is the Nevada Rule 506 notice filing?
How do you form the deal LLC in Nevada?
What Nevada landlord and tenant rules should a sponsor know?
How does Nevada property tax work for an apartment building?
What does Nevada charge when an apartment building sells?
Does Nevada tax the deal LLC or its investors?
How DoorRaise fits in
FAQ

To syndicate an apartment deal in Nevada, you form the deal LLC (or register an outside LLC with the Nevada Secretary of State), raise under Rule 506(b) or 506(c), and file a Form D notice with a $500 fee through NASAA's EFD, one of the higher state fees. Nevada has no personal income tax, but the LLC has real yearly costs: an annual list and a state business license, both due each year. Property tax increases are limited by an abatement cap, so the seller's bill can be a reasonable starting point, but check how the cap applies to your building.

This is the Nevada version of our general syndication guide. It covers what changes when the building, the investors or both are in Nevada. It is general information, not legal advice.

What is the Nevada Rule 506 notice filing?

Nevada treats Rule 506 interests as federal covered securities and asks for a notice: a copy of the SEC Form D and the fee, filed through the NASAA Electronic Filing Depository (EFD) for the Securities Division of the Nevada Secretary of State. DoorRaise's state data, from NASAA's fee schedule, lists the fee as $500. File within 15 days of the first sale to a Nevada investor. EFD shows the exact amount before you pay, and that amount wins. See blue sky notice filings and blue sky fees by state.

How do you form the deal LLC in Nevada?

A Nevada LLC is formed by filing Articles of Organization with the Nevada Secretary of State, together with an initial list of managers or members and a state business license, through SilverFlume. The published fees are $75 for the articles, $150 for the list and $200 for the business license. Each year the LLC files an annual list ($150) and renews the business license ($200). An LLC formed elsewhere that will own Nevada property registers as a foreign LLC and pays similar yearly fees. Confirm fees with the Secretary of State before you file. See forming an LLC for a syndication and Delaware versus Wyoming LLCs.

Nevada's residential landlord and tenant law is NRS Chapter 118A. A security deposit, including any surety bond, cannot exceed three months' rent, and the landlord must return it, with an itemized list of deductions, within 30 days after the tenancy ends (NRS 118A.242). For unpaid rent, the landlord serves a 7 judicial day notice to pay or quit before going to court, and Nevada's summary eviction process has specific forms and timelines. Your property manager should use Nevada notices and keep them current, since the legislature changes eviction rules often.

How does Nevada property tax work for an apartment building?

Nevada values land at market and improvements at replacement cost less depreciation, and assesses property at 35% of that taxable value. The total tax rate is capped by the state constitution. Nevada also limits how fast a property's tax bill can rise each year through partial abatement: the cap is 3% for a primary home and for qualifying rental housing whose rents are at or below a set fair market level, and a higher cap, set each year by formula and at most 8%, for other property. After a sale, new construction or major improvements, the abatement can change. Underwrite taxes using the assessor's taxable value and the cap that applies to your building, and confirm with the county assessor. See property tax reassessment in apartment underwriting.

What does Nevada charge when an apartment building sells?

Nevada charges a real property transfer tax on the value of the property, and the rate varies by county; in Clark County (Las Vegas) it is $5.10 per $1,000. Who pays is set in the purchase contract. Put your share in sources and uses.

Does Nevada tax the deal LLC or its investors?

Nevada has no personal or corporate income tax, so investors usually do not file a Nevada return for the deal's income. A business with Nevada gross revenue above $4 million a year files the Commerce Tax return, and businesses with employees pay a payroll tax. Ask your CPA how your structure fits. See state tax returns for nonresident syndication investors for states that do tax investors.

How DoorRaise fits in

DoorRaise helps sponsors raise equity for apartment buildings from their friends and followers under Rule 506(b) or 506(c), and verifies that every investor is accredited before they sign. Investors fund by wire into the deal's escrow account at Enterprise Bank & Trust. By default DoorRaise files the notice in the property's state; on new deals, the first investor from another state pays that state's filing fee by card when they sign, later investors from that state pay nothing, and the sponsor never fronts it. Sponsors pay a $1,500 setup fee (non-refundable) and a flat $5,000 a year administration fee; see pricing or how it works.

FAQ

How much is the Nevada Rule 506 notice fee?

$500, per NASAA's fee schedule. EFD shows the final amount before you pay.

What does a Nevada LLC pay each year?

An annual list ($150) and a state business license renewal ($200).

Do Nevada investors owe state income tax on the deal?

Nevada has no personal income tax, so generally no Nevada return for the deal's income.

What is the Clark County transfer tax?

$5.10 per $1,000 of value.

Sources

This article is general information as of November 2026, not legal, tax or investment advice. State laws and fees change: confirm with the state agency and your own attorney before you file. DoorRaise is not a law firm, broker-dealer, investment adviser or funding portal.