Depending on the kind of business you wish to launch, different fees apply to registering it in Nebraska. For instance, creating a corporation costs $100 + $10 for each $10,000 of authorized capital stock, while registering a limited liability company (LLC) costs $100. Additionally, every firm in Nebraska is required to file an annual report, which costs corporations $20 and LLCs $10 plus $2 for every $1,000 of authorized capital stock.
Your company’s demands will determine whether an LLC or a sole proprietorship is best for you. The simplest and least expensive business form to start up is a sole proprietorship, but it does not provide personal liability protection. This implies that your personal assets, such as your home and money, may be in jeopardy if your company is sued. In contrast, an LLC provides limited liability protection, which means that your personal assets and corporate assets are kept apart. Your personal assets may be better protected as a result, but there are additional charges and paperwork involved.
The steps are as follows to create an LLC in Nebraska: 1. Pick a name for your LLC that is not in use previously.
2. Submit the articles of incorporation to the Secretary of State of Nebraska. Online or mail-in filing is an option. 3. Choose a registered agent to represent your LLC. This is the person or thing that will get legal notices on your company’s behalf.
4. Within two months of submitting your articles of organization, submit an initial report to the secretary of state. Which is preferable, a DBA or an LLC?
When a company wants to conduct business under a name different than its legal name, it creates a DBA (doing business as) name. A DBA does not provide any personal liability protection because it is not a distinct legal entity like an LLC. To operate under a name other than their legal name, such as a sole proprietor who wants to utilize a business name, a company may want to consider a DBA.
In conclusion, establishing a business in Nebraska is a straightforward procedure that may be carried out online or by the mail. The optimum sort of business structure for your requirements should be taken into account before registering your company. A single proprietorship can be the most cost-effective choice, but an LLC provides better personal liability protection. A DBA may also be an excellent choice if you want to run your business under a name other than your legal name. You can confidently register your firm and begin your entrepreneurial adventure in Nebraska if you keep these factors in mind.
Doing Business As (DBA) is not a separate legal person and is not an independent tax payer. The business owner is responsible for paying the taxes. All revenue derived from the DBA must be included in the owner’s personal tax return.