You did it. Your Nebraska LLC is officially up and running, ready to take on challenges, roll in the profits, and change the world.
There’s no doubt that this is an exciting time in your business journey. After starting your LLC, it’s easy to get carried away in all the excitement and expectations. After all, as a new business owner, you’ve got a lot on your plate.
But the state does too. They need to keep updated records on thousands of businesses so that they can effectively reach out with any important tax or legal communications down the road. How do they do it? With your cooperation, of course.
In Nebraska, an LLC’s annual report consists of two parts: a Franchise Tax and a Public Information Report. Each LLC must submit these filings to the Nebraska Comptroller every year to keep their information current. Unsure how to go about it? Never even heard of it? No worries at all. That’s why we’re here. Keep reading for everything you need to know.
For brevity’s sake, we’ll refer to these two combined filings as the “Annual Report” in this guide.
What is the Nebraska Biennial Report? Why is it Important?
Consider a Biennial Report the state’s yearly checkup on your LLC. It’s similar to a census in that its purpose is to collect the necessary contact and structural information about each Nebraska business.
Each state has its own biennial reporting requirements, and some don’t even require them. But in most states, you’re required to submit one per year that includes your LLC name, principal office address, registered agent information, and member/manager names and addresses. Whether you run a domestic or foreign LLC, you should plan on submitting a Biennial Report.
Don’t be intimidated, but it’s not something you want to take lightly. This is how the state updates your LLC’s record with the most recent information. They need to know how to reach you with important information about your business status, upcoming filings, taxes, and service of process.
For example, if you change your registered agent, or your current agent resigns, you’ll need to keep the state informed so they can update their contact information. Miss one of their communications and your LLC in Nebraska might end up falling out of good standing or, even worse, administratively dissolved.
Moreover, keeping your information current will help other businesses and potential customers find you. If the Secretary of State has the most updated data on record, anyone can find your business by performing a name search.
How Much Does the Nebraska LLC Biennial Report Fee Cost?
If you’re putting together a budget for all your LLC’s costs – like formation costs, name reservation fees, and initial operating expenses – it’s important to include recurring filings like this one, just so that there are no surprises.
Costs vary from state to state. Some are free while others can be several hundred dollars. Nebraska doesn’t charge exorbitant rates, though, just $10 for the form along with a $3 credit card processing fee if you’re filing online.
Due Date and Frequency for a Biennial Report in Nebraska
Limited liability company Biennial Reports are due by April 1st on every odd-numbered year. This means that your first Biennial Report will be due on the first odd-numbered year after you form your LLC. So, if you filed your Certificate of Organization in 2017 or 2018, your first Biennial Report would be due by April 1, 2019. If you want to file early and get it out of the way, you can do so as early as January 2nd.
What Happens if You Don’t File?
You might be thinking, “that sounds like a pain. How bad could it be if I just fly under the radar?” The short answer: don’t try it. Failing to file your Biennial Report can yield some serious consequences.
The Secretary of State doesn’t impose any late fees on Biennial Reports, but if you don’t file by June 1st, your LLC will be labeled “delinquent” and administratively dissolved. At this point, you must file an Application for Reinstatement and pay its $10 fee (plus $5 per page) and any other delinquent fee payments.
If you’re reading this and it’s currently an odd-numbered year between January 1st and April 1st, it’s go time. Here’s the information that’s included on your Biennial Report:
- LLC name
- Designated office address (Nebraska office location)
- Principal office address (Same as the designated office address for domestic LLCs, but different for foreign ones)
- Registered agent name and address
- Filer name and title
Finding this information shouldn’t be too difficult. In fact, you probably know it off the top of your head. If not, you can find it on your LLC’s online record or Certificate of Organization.
You can file your Biennial Report either online or by mail, but both routes start on the Secretary of State’s Annual/Biennial Reporting page.
Online Filing: From the Annual/Biennial Reporting page, click the button that reads “File Online LLC and LLP.” On the next page, enter your LLC’s account number and you’ll be on your way. The subsequent page will show your LLC name, designated office address, and registered agent information. Look good? Simply enter your filer and payment information and submit the form.
However, if you need to change one of these items, check the box that reads “if this information has changed…” Here’s the thing: you can’t make these changes directly on the Biennial Report form. Instead, you must submit a separate Statement of Change form online for $17 or by mail for $15.
Filing by Mail: On the Annual/Biennial Reporting page, there’s also a button that says “Print a Paper Report to mail in.” Enter your LLC’s account number and follow the onscreen instructions to download your document. Fill it out and include a check for $10 to:
Secretary of State’s Office
Business Services Division
P.O. Box 94608
Lincoln, NE 68509
Does the State Send Reminders?
Reminders are always nice. They help you stay on top of your business requirements and ensure that you won’t fall out of good standing.
The state will lend you a hand to make sure you don’t forget by mailing a reminder to your registered office address when your due date is approaching. But just to be sure, you should set up your own system of reminders. Use your planner, calendar, phone, whatever will best help you remember to file your report.
Can I Hire a Service to Handle it?
You probably have a full plate as it is, and the thought of adding one more responsibility to your to-do list might make you shudder. You’re not alone.
Plenty of other LLC owners have outsourced their reporting duties to LLC services. These companies will take the entire process off your hands, handling your Biennial Report each year. If that piques your interest, we recommend ZenBusiness, which is an experienced and trustworthy LLC company.
But their services aren’t restricted to forming an LLC or managing Biennial Reports. They can also help you form your business, draft an operating agreement, handle registered agent responsibilities, and much more, all for a reasonably low price.
If thinking about your LLC responsibilities ties your stomach in knots, let ZenBusiness take some of those worries off your plate.
There you have it, everything you need to know about Nebraska’s reporting requirements. Follow this guide to a T and your LLC will be prepared to operate smoothly and in good standing long into the future.
And remember, if at any point it seems overwhelming, you’re not alone. A good LLC service like ZenBusiness (or LegalZoom) can be a valuable resource, taking care of all the little details, so you can focus on growing your business.