In Nebraska, the most common structure for real estate enterprises is an LLC. This is due to the ease with which a limited liability corporation (LLC) may be formed and operated.
If your real estate firm is sued, an LLC may safeguard your personal assets (vehicle, home, money). LLCs also provide credibility and tax-saving possibilities.
It Is Simple to Form a Real Estate LLC in Nebraska
In Nebraska, you may form a real estate LLC by filing the Certificate of Organization with the NE Secretary of State. In Nebraska, forming a real estate LLC costs $100.
The first step in organizing a real estate LLC is to choose a firm name. You must offer your company a distinct name that complies with Nebraska naming regulations.
When you submit your Certificate of Organization, you will formally register your name.
For further information, see the complete list of Nebraska name requirements.
Determine if the name is available in Nebraska. Make sure the company name you choose isn’t currently in use by doing an online LLC name search.
Examine if your company’s name is accessible as a web domain. You may choose to purchase the URL in order to prevent others from using it.
A registered agent must be included when you submit your Certificate of Organization.
The role of a registered agent is to receive legal papers such as service of process and tax notifications on behalf of your LLC.
A person or a registered agent service might serve as the registered agent for your real estate LLC. Although you may serve as your own registered agent, many company owners choose to employ a registered agent service.
Consider the following while selecting a registered agent:
You must submit the Certificate of Organization with the Nebraska Secretary of State to register your Nebraska LLC. This may be done through email, mail, or in person.
Nebraska requires newly created LLCs to publish a Notice of Organization in an authorized newspaper in the county of the LLC’s primary office for three consecutive weeks. The name, street location, and kind of business of the LLC must be included in this Notice of Organization.
After three weeks, the newspaper will give your LLC an affidavit of publication, which you may file online with the Secretary of State as an existing company.
An LLC operating agreement is a legal document that defines your real estate LLC’s ownership and member responsibilities. An operating agreement is required for all Nebraska LLCs.
An operating agreement may benefit even single-member LLCs.
Your operating agreement should include the following provisions:
You may include conditions in your real estate LLC operating agreement as long as they do not violate Nebraska law.
The US Internal Revenue Service (IRS) uses an Employer Identification Number (EIN) to identify and tax firms. It’s essentially a business’s Social Security number.
Following the Formation of a Real Estate LLC
