LLCs in Nebraska must comply with state law and have the words “Limited Liability Company” or the abbreviations “LLC” or “L.L.C.” included in their name. The name must be distinguishable from the names of other business entities doing business in the state. The Nebraska Secretary of State Business Name Database (https://www.nebraska.gov/sos/corp/corpsearch.cgi?nav=search) is available to help LLCs check for name availability.
The formation process requires the Certificate of Organization to be filed with the Nebraska Secretary of State. The certificate can be filed by postal mail or online at the Nebraska government website (https://www.nebraska.gov/apps-sos-edocs/).
Nebraska requires LLCs to publish the notice of the incorporation to a local newspaper for three consecutive weeks. The proof of publication must be filed with the Secretary of State.
What is an LLC?
LLC refers to a Limited Liability Company, and it is organized by business owners. They have fewer corporate formalities and can be taxed by the IRS as a sole proprietorship, S corporation, or C corporation.
Each state has different requirements and regulations regarding the formation of an LLC. Business owners should check with state laws when considering forming an LLC.
Owners of LLCs are known as members, they can be individuals, corporations, other LLCs, or foreign entities. There is no limit on the number of members an LLC can have. In most states, “single-member” LLCs are allowed, where there is only one owner involved in managing the LLC.
The IRS will treat the LLC as a corporation, partnership, or included in the LLC owners personal tax return. A domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless they file Form 8832 and elect to be treated as a corporation.
LLCs carry tax advantages over other forms of business such as limited partnerships. The owners of an LLC do not assume personal liability for business debt, and any losses of the LLC can be used as tax deductions against active income.
An LLC can be formed through the state business formation process or consulting with LegalZoom.