Reinstate a Business in Nebraska | A Step-by-Step Guide

by
Reinstate Nebraska Business

Running a business or forming an LLC in Nebraska can be a rewarding yet challenging experience. When operating a business, unforeseen circumstances may arise, leading to the suspension or dissolution of the entity. If your business has been suspended or dissolved in Nebraska, you do not need to worry. This guide will provide a step-by-step process to Reinstate your Business in Nebraska and get back on track.

Webinarcare Editorial Team will help you easily reinstate your Nebraska business. You must be guided by all the factors gathered in this article.

How to Reinstate a Business in Nebraska

Understanding Dissolution and Suspension

Before diving into the reinstatement process, it’s essential to understand the difference between dissolution and suspension.

Dissolution

Dissolution is the legal termination of a business entity. This can happen voluntarily by the owners or involuntarily by Nebraska due to non-compliance with state laws and regulations. When a business is dissolved, it must cease all operations and settle outstanding debts and liabilities.

Suspension

The state can suspend a business entity for various reasons, such as failing to file Biennial Reports or paying taxes. When a business is suspended, it loses its right to conduct business within Nebraska, and the owners may be personally liable for any debts or liabilities incurred during the suspension period. Hiring a Registered Agent for your documents to be compliant is very important. You could check out the Best Nebraska Registered Agent Services in Nebraska.

LLC Service

Rating & Pricing

Top Features

Learn More

#1 Recommendation

$299 Per Year

  • Free LLC Formation

  • RA service in all states

  • Legal consultation

Learn More

$125 Per Year

  • Flat price for RA service

  • LLC formation package

  • Fast service

Learn More

How to Reinstate a Business in Nebraska

In Nebraska, reinstating your business needs a lot of preparation, more specifically if it is located in Lincoln. To be aware and prepared, we have gathered information on the steps to reinstate your Nebraska business. If it is manageable to Dissolve a Business in Nebraska, it is also bearable to reinstate your Nebraska business. Keep in mind that you should follow the mentioned steps below. 

Step 1: Determine the Reason for Suspension or Dissolution

The first step in reinstating your Nebraska business is determining why it is suspended or dissolved. This information can be found in the notice issued by Nebraska or by contacting the Nebraska Secretary of State. Common reasons for suspension or dissolution include:

  • Failure to file Biennial Reports
  • Failure to pay taxes or fees
  • Failure to maintain a Registered Agent
  • Non-compliance with state laws and regulations

Step 2: Resolve Outstanding Issues

Once you have identified the reason for your business’s suspension or dissolution, you must resolve the outstanding issues. This may include:

  • Filing any missing Nebraska Biennial Reports and paying associated fees. In Nebraska, the LLC Biennial Reports costs $5 while the Corporation Biennial Report costs $26.
  • Paying any outstanding taxes or fees
  • Appointing or updating your Registered Agent information. 
  • Resolving any non-compliance issues with state laws and regulations

Ensure that you keep records of all payments and documents submitted to the Nebraska Secretary of State, as you may need to provide proof of compliance during the reinstatement process. We recommend hiring the Best Registered Agent Services if you plan to reinstate your business. This will ensure that your documents are up to date.

It is suggested that you speak with a legal professional before you begin reinstating your Nebraska business. They’ll understand what’s best for you and your company. To safeguard your personal assets from business debts, you can always start an LLC in Nebraska.

– WEBINARCARE EDITORIAL TEAM

Step 3: Obtain a Certificate of Good Standing

Certificate of Good Standing is a document issued by Nebraska that verifies that your business is in compliance with all state requirements and is authorized to conduct business within the state. Although obtaining a Certificate of Good Standing is not always required for reinstatement, it can be beneficial in demonstrating your business’s compliance and may expedite the reinstatement process.

To obtain a Certificate of Good Standing in Nebraska, you will need to:

Get and Submit the Form

The form is available on the Nebraska Secretary of State website. You can download the form and mail it or submit it online. 

Online Application Process:
  • Visit the State Website: In Nebraska, they offer an online portal for business services, which includes the option to request a Certificate of Status.
  • Register an Account: You may need to create an account or log in to your existing account to access the application process.
  • Provide Required Information and Documentation: The online application typically requires basic information about your business, such as the entity name, identification number, and business type. You may also need to upload supporting documents. 
Paper Application Process:
  • Download and Complete the Appropriate Forms: Visit the Nebraska Secretary of State to download the required application forms for the Certificate of Good Standing. Complete the forms, ensuring all information is accurate and up-to-date.
  • Provide Required Documentation: In Nebraska, you may need to include copies of your registration documents, Certificate of Organization, Biennial Reports, or other supporting materials.
  • Mail or Deliver the Application: Once you have completed the forms and gathered the necessary documents, mail or deliver the application package to the Robert B. Evnen, Secretary of State, P.O. Box 94608, Lincoln, NE 685098., along with the required fees.
Pay Any Associated Fees

The fees for obtaining a Certificate of Good Standing cost $10, vary depending on the type of business entity. Some states also offer expedited processing for an additional fee. Check the Nebraska Secretary of State website for the most up-to-date fee schedule. The Certificate of Good Standing’s processing time varies from state to state. Also, it depends on the expedited filing as well. It can take a few days to a few months to obtain the Certificate of Good Standing in Nebraska.

Provide Proof of Compliance

To prove compliance with state requirements, you must file Biennial Reports and pay the necessary taxes.

Recommended: Legalzoom’s annual report services provide a comprehensive and streamlined approach to ensuring businesses maintain compliance and transparency. Their attention to detail and dedication to client satisfaction make them the go-to choice for all your annual reporting needs. We recommend using –

LegalZoom – Starts at $99 + filing fees

Step 4: Submit Reinstatement Application

Once you have resolved all outstanding issues and obtained a Certificate of Good Standing, you can submit your reinstatement application to the Nebraska’s Secretary of State. The reinstatement application process may vary depending on the state and the type of business entity (corporation, LLC, etc.).

In general, the reinstatement application process will require:

  • Completing a reinstatement application form is typically found on the Nebraska Secretary of State’s website.
  • Providing proof of compliance with state requirements, such as filing Biennial Reports, paying taxes, and maintaining a Registered Agent.
  • Pay the reinstatement fee in Nebraska. The cost of the reinstatement fee amounts to $25. However, the cost will vary depending on the length of time your Nebraska business has been suspended or dissolved.

Step 5: Wait for Approval

After submitting your reinstatement application and all required documentation, you must await approval from the Nebraska’s Secretary of State. The processing time for reinstatement applications can vary depending on the Nebraska and the complexity of your case. Being patient and prepared to provide any additional information or documentation requested by Nebraska during this time is essential.

Step 6: Notify Creditors and Stakeholders

Once your business has been reinstated, you must notify creditors and stakeholders of your business’s renewed status. This may include:

  • Sending a formal letter to creditors and stakeholders informing them of the reinstatement.
  • Updating your Nebraska business’s website and social media accounts to reflect the reinstated status.
  • Informing any relevant licensing or regulatory agencies of the reinstatement.

Step 7: Resume Business Operations

After your Nebraska business has been reinstated and all relevant parties have been notified, you can resume your business operations. Be sure to maintain compliance with state laws and regulations moving forward to avoid future suspensions or dissolutions.

Reinstating or Creating a New Business?

Whether to reinstate a business or start a new one from scratch depends on several factors specific to your situation. Here are some points to consider when making your decision:

  • Costs: The costs of reinstating and starting a new business can vary significantly. Reinstating a business may involve paying outstanding taxes, fees, and penalties while starting a new business requires registration fees and potential legal costs. Compare both options’ costs to determine which is more financially viable.
  • Business History and Reputation: If your previous business has a strong reputation and established customer base, reinstating it may be more beneficial than starting from scratch. On the other hand, if your Nebraska business has a negative history or unresolved legal issues, start fresh with a new business.
  • Time and Effort: Reinstating a business can be a time-consuming process, as you need to resolve outstanding issues, submit a reinstatement application, and wait for approval. Starting a new Nebraska business may be faster, as you can register the business and begin operations relatively quickly. Consider which option is more time-efficient based on your situation.
  • Legal and Regulatory Compliance: If your previous Nebraska business was suspended or dissolved due to non-compliance with state laws and regulations, you should carefully evaluate whether you can maintain compliance if the business is reinstated. If you are confident in your ability to comply with requirements, reinstating the business might be a good option. However, starting a new Nebraska business might be a better choice if you still determine your ability to maintain compliance.

Ultimately, deciding to reinstate a business or start a new one from scratch depends on your circumstances and goals. Consider the abovementioned factors, consult with professionals such as Nebraska Business Attorneys and accountants, and evaluate which option best suits your needs and long-term business objectives.

FAQs

What do I need to do to reinstate my Nebraska business?
To reinstate your Nebraska business, you will need to file a reinstatement application and pay any overdue fees.
How much does it cost to reinstate a Nebraska business?
The fee to reinstate a Nebraska business varies depending on the type of business and the amount of time it has been inactive. Check with the Secretary of State’s office for specific fees.
Can I reinstate my Nebraska business online?
Yes, you can file your reinstatement application online through the Secretary of State’s website.
How long does it take to reinstate a Nebraska business?
The time it takes to reinstate a Nebraska business will vary depending on the type of business and the backlog of applications being processed. Check with the Secretary of State’s office for estimated times.
What documents do I need to reinstate my Nebraska business?
To reinstate your Nebraska business, you will need to file a reinstatement application and provide any requested documentation to the Secretary of State’s office.
Can I reinstate my Nebraska business if it was dissolved or revoked?
Yes, you may be able to reinstate your Nebraska business if it was dissolved or revoked. Check with the Secretary of State’s office for specific requirements.
Does my Nebraska business have to pay any late fees to reinstate?
Yes, your Nebraska business will likely have to pay any fees or penalties that have accrued during the time it was inactive.
What happens if I don’t reinstate my Nebraska business?
If you don’t reinstate your Nebraska business, it may be assessed additional fees and penalties and could be administratively dissolved or revoked.
Can I change my business name when I reinstate my Nebraska business?
No, you cannot change your business name when you reinstate your Nebraska business. You will need to file a separate application for a name change.
Can I change my registered agent when I reinstate my Nebraska business?
Yes, you can change your registered agent when you reinstate your Nebraska business. Fill out the appropriate form and file it with your application.
How do I know if I need to get a new EIN when I reinstate my Nebraska business?
Contact the IRS to determine if you need to get a new EIN when you are reinstating your Nebraska business.
What happens to my Nebraska business’s tax records if it is reinstated?
Your Nebraska business’s tax records will be updated to reflect the reinstatement. Consult with a tax professional to ensure you complete all necessary steps.
Can I dissolve my Nebraska business again after reinstating it?
Yes, you can dissolve your Nebraska business again after reinstating it if you need to.
What is the difference between a dissolved and revoked Nebraska business?
A dissolved Nebraska business is no longer regarded as an entity, while a revoked Nebraska business has had its certificate of incorporation revoked, but it may still exist as an entity.
When should I start the process to reinstate my Nebraska business?
You should start the process to reinstate your Nebraska business as soon as possible to avoid additional fees and penalties.
How do I check the status of my Nebraska business?
You can check the status of your Nebraska business online through the Secretary of State’s website.
How do I obtain a Certificate of Good Standing for my Nebraska business?
Contact the Secretary of State’s office to request a Certificate of Good Standing for your Nebraska business.
What happens if I have outstanding taxes when I need to reinstate my Nebraska business?
Contact the Nebraska Department of Revenue to determine what actions you should take if you have outstanding taxes when you need to reinstate your Nebraska business.
How do I know if my Nebraska business is up-to-date on filing requirements?
The Secretary of State’s office can provide you with information regarding your Nebraska business’s filing status and due dates.
What is the registered agent’s role in reinstating a Nebraska business?
The registered agent plays an important role in notifying the Secretary of State’s office of any address changes or updates to a Nebraska business’s information.
What should I do if I didn’t receive notice that my Nebraska business’s certificate of incorporation was revoked?
Contact the Secretary of State’s office to determine why you didn’t receive notice that your Nebraska business’s certificate of incorporation was revoked.
Can I operate my Nebraska business during reinstatement?
It is advisable not to operate your Nebraska business during reinstatement, as you may still be liable for taxes and penalties.
What is the reinstatement period for a Nebraska business?
The reinstatement period for a Nebraska business can vary. Check with the Secretary of State’s office for specific guidelines.
Can I apply for reinstatement of a foreign Nebraska business?
Yes, you may be able to reinstate your foreign Nebraska business. Check with the Secretary of State’s office for specific requirements.
How do I change my business structure when reinstating a Nebraska business?
You will need to file appropriate documents with the Secretary of State’s office if you want to change your business structure when reinstating a Nebraska business.
What is the fee to switch my business structure when reinstating a Nebraska business?
The fee to switch your business structure when reinstating a Nebraska business varies depending on the type of business and structure. Check with the Secretary of State’s office for specific fees.
What is the first step to reinstating a Nebraska business taken offline?
The first step to reinstating a Nebraska business taken offline is contacting the Secretary of State’s office to inquire about specific procedures for offline application submissions.
Can I still file a Nebraska reinstatement application if I’m no longer listed as a business owner or authorized individual?
Someone who is authorized to act on behalf of the Nebraska business can still file a reinstatement application with the proper authorization paperwork.
Can I still restart my Nebraska business if it was dissolved a long time ago?
Yes, you may be able to restart your Nebraska business, but it may require more steps than a simple reinstatement. Check with the Secretary of State’s office or an attorney for additional guidance.
How do I reinstate my Nebraska business?
To reinstate your Nebraska business, you must file an application for reinstatement with the Secretary of State and pay all necessary fees.
What are the consequences of a Nebraska business being in inactive status?
The consequences of a Nebraska business being in inactive status include not being able to conduct any business activities and not having access to the courts.
Who do I contact for information about reinstating my Nebraska business?
For information about reinstating your Nebraska business, you can contact the Nebraska Secretary of State.
Can a Nebraska business be reinstated if it has been administratively dissolved?
Yes, a Nebraska business can be reinstated if it has been administratively dissolved by the state.
What do I need to do to reinstate my Nebraska LLC?
To reinstate your Nebraska LLC, you need to file an application for reinstatement with the Secretary of State and pay all necessary fees.
Can I reinstate a Nebraska corporation that has been forfeited for non-payment of taxes?
Yes, you can reinstate a Nebraska corporation that has been forfeited for non-payment of taxes by paying all outstanding taxes and filing the proper paperwork with the Nebraska Department of Revenue.
How can I tell if my Nebraska business is in good standing?
You can check the status of your Nebraska business by visiting the Nebraska Secretary of State website and accessing the business entity search tool.
What is the difference between a Nebraska business that is in good standing and one that is not?
A Nebraska business that is in good standing is up to date on all required filings and payments, while one that is not is not current on its state obligations.
Is it possible to reinstate a Nebraska business that has been voluntarily dissolved?
Yes, it is possible to reinstate a Nebraska business that has been voluntarily dissolved by filing the appropriate paperwork with the Nebraska Secretary of State and paying all necessary fees.
How can I request a copy of my Nebraska business’s articles of incorporation?
You can request a copy of your Nebraska business’s articles of incorporation by submitting a request to the Nebraska Secretary of State.
What types of filings must be made to bring a Nebraska business back into compliance?
The types of filings required to bring a Nebraska business back into compliance will depend on the type of entity and the reason for the entity’s non-compliance status.
Are there any penalties for failing to reinstate a Nebraska business in a timely manner?
Yes, failing to reinstate a Nebraska business in a timely manner can result in additional fees and, in some cases, legal consequences.
Can someone reinstate their Nebraska business without a lawyer or CPA?
Yes, individuals can reinstate their Nebraska business without the assistance of a lawyer or CPA, but it is recommended that they seek professional guidance.
How long does a Nebraska business typically have to file all necessary paperwork for reinstatement?
A Nebraska business typically has up to three years to file all necessary paperwork for reinstatement.
Why might a Nebraska business need to be reinstated?
A Nebraska business may need to be reinstated if it has been administratively dissolved, been forfeited for non-payment of taxes, or voluntarily dissolved without properly completing the necessary paperwork.
What happens to an Nebraska business’s assets if it is not reinstated in time?
In some cases, if a Nebraska business is not reinstated in time, its assets may be seized.
Can a Nebraska business with shares that are publicly traded be reinstated?
Yes, a Nebraska business with shares that are publicly traded can be reinstated if it meets all the necessary requirements.
Will a Nebraska business be reinstated automatically after the period of suspension is over?
No, a Nebraska business will not be reinstated automatically after the period of suspension is over without the necessary paperwork and fees being submitted.
How long does a Nebraska business have to wait before it can be reinstated if it has been dissolved by court order?
The waiting period before a Nebraska business can be reinstated after being dissolved by court order may vary, depending on the specific situation.
What if my Nebraska business was administratively dissolved and I don’t want to reinstate it?
If your Nebraska business was administratively dissolved and you do not wish to reinstate it, you may still be responsible for certain tax liabilities and other debts.
Do all Nebraska businesses need to file taxes to be reinstated?
All Nebraska businesses to be reinstated are required to file taxes on a state and federal level.
How will reinstating my Nebraska business affect existing contracts and agreements?
Reinstate to a nerve – ask again please.
What happens if the Nebraska Secretary of State denies my application for reinstatement?
If the Nebraska Secretary of State denies your application for reinstatement, you will need to find out the specific reason and correction and re-appeal for the approval.
Does a Nebraska business need to have a registered agent to be reinstated?
Yes, a Nebraska business is required to have a registered agent to be reinstated.
Can I operate my Nebraska business while it is in inactive status?
No, you cannot operate your Nebraska business while it is in inactive status.

Also Read

Conclusion

Reinstating a business in Nebraska can be complex and time-consuming. However, following the steps outlined in this guide, you can successfully reinstate your business and resume operations. Remember to stay diligent in maintaining compliance with state laws and regulations to avoid future issues and ensure the continued success of your business.

Leave a Comment