Starting an LLC in Nebraska is not for the faint of heart. Maintaining one isn’t, either. There’s a bunch of annual requirements: annual taxes, business licenses to renew, and of course, annual reports. A lot of the annual requirements can be pretty complicated, too.
Annual reports can be pretty complicated…but only if you don’t know what to expect. That’s what we’re here for. In this guide, we’ll cover all the essentials to annual reports in Nebraska: LLC filing fees, where to file, due dates, and if you want, where to go to get help filing. By the end, the annual report won’t feel so daunting anymore.
What is an annual report?
An annual report is a lot like an annual newsletter for your LLC—except you only send it to one place: the state government. Each year, the state needs updated information about your business. And this isn’t a requirement that’s unique to Nebraska. In fact, nearly every state requires some form of annual (or similar timeline) update.
That said, the newsletter analogy falls short because you don’t need to tell the state what you did each month. You don’t even have to tell them the highs and lows of your year. And thankfully, you don’t have to write it out as a letter. All you’ll have to do is fill out the requested information.
Here’s a quick glance at the information Nebraska will require from you:
- Legal name of the business
- Address of your designated office
- Principal office address (only different from the above entry for foreign LLCs)
- Name and address of your registered agent
- Name and title of the individual filing the form
Sound overwhelming? Don’t panic. It’s actually a lot easier than you might think! In the rest of this guide, we’ll cover all the essentials to annual reporting—including a DIY approach and how to get help if you’d rather not file on your own.
Where do I start?
When the time comes to file your annual report, your gut might tell you to head to the Secretary of State’s website. And your gut would be right; that’s exactly where you need to be.
More specifically, you’ll want to head to the Annual/Biennial Reports page on the Secretary of State’s website. That’s where you’ll find links to file online, or if you’d rather, links to file by mail. One quick note about this page: you’ll see some links for annual reports and some for biennial reports. We’ll dig into this more in a minute, but you’ll want to hit the biennial report links for LLCs. Nebraska calls them biennial reports, but the concept is almost identical.
The annual report isn’t extremely difficult to fill out, honestly. But if you’re extremely busy (and who isn’t these days?), the report can seem overwhelming—it’s yet another thing you have to do. That said, you can hire a Nebraska LLC Service to handle the work for you. Not only will these services actually form your business for you (if you need it), but they’ll also help you handle annual requirements like the annual report.
How much does Nebraska’s Biennial Report cost?
Some states have a pretty hefty price tag of several hundred dollars for their annual report. Other states charge more reasonable fees of less than $100. Nebraska, however, keeps rates very manageable; the fee is just $10.
If you file by mail, the fee stays at just $10, and you can usually pay by check. But if you file online, you’ll pay using a credit card. Nebraska adds on a $3 convenience fee for credit card transactions.
When is the Biennial Report due?
In most states, the annual report is due, well, annually. In other states, entrepreneurs often refer to it as an annual report even though it’s due every other year. Nebraska is one of the states in the “every other year” camp. You won’t file a report every year—just every other year.
More specifically, you’ll file on odd-numbered years only. The due date is April 1st. So let’s say you formed your LLC in March 2022. Then you’d need to file your annual report by April 1st in 2023 and again by April 1st in 2025.
What happens if you don’t file your annual report?
Sometimes annual check-ins are a pain, right? And we get it: with some things, like annual physicals, dental cleanings, and eye appointments are tempting to skip. Usually, there isn’t a big penalty if you skip them for a year or two (aside from a minor scolding from your doctor).
However, that isn’t the case with annual reports. You should never skip filing your annual report, and you should always do it on time. For one thing, filing on time ensures that you don’t spend any more than you have to.
More importantly, though, failing to file your annual report can cost you your good standing in the state. Leave your report unfiled past June 1st, and your state will label your business as delinquent. Shortly afterwards, they’ll administratively dissolve your LLC.
Long story short, they’ll shut down your business by force. If that happens, don’t panic; you can get reinstated by filing an Application for Reinstatement. But it’s a hassle to do so, and there’s a $10 fee. It’s far easier to simply file on time each year and avoid the hassle entirely. You’ll save yourself a lot of time and money.
Maintaining a Nebraska LLC is no laughing matter, and the annual report is without a doubt one of the most important annual filings. Thankfully, it doesn’t have to be too complicated. Hopefully this guide has helped take out some of the guesswork. And don’t forget: an LLC Service can make things even easier.