The LLC, or Limited Liability Company, is a business structure that was invented to offer an array of benefits usually provided by other traditional business forms. An LLC enjoys the same type of limited liability as a corporation, but like the sole proprietorship and partnership, it is not taxed as its own entity. Also like corporations, LLC's can have as many shareholders, or members, as it likes. Unlike a corporation however, the death or bankruptcy of one of the members will dissolve the LLC. Various forms of limited liability companies have been around for hundreds years, but the modern LLC, like the legislature enacted in Nebraska, became more popular in the past several decades.

Can My Business Be Formed as an LLC?

A business in Nebraska can be organized using the form that it chooses. If the founders want to organize as an LLC, all that is required is filing the appropriate form with the Secretary of State. However, there may be an additional fee required for forming your LLC, determined by Nebraska laws that govern the formation and actions of LLC's. In deciding whether you should organize as an LLC, you should consider carefully the applicable laws. Finding the right business structure for your company can lead to increased profits, but the process may take some time.

Can I Change the Form of My Business to an LLC?

Businesses in Ogallala may change their forms in particular circumstances. Whether a business may convert to a LLC or not is determined by Nebraska law.

How Can an Attorney Help?

Attorneys practicing business law in Nebraska can advise you on whether it would be favorable for your business to form or convert to a LLC.