Bill > LB315

This bill provides a sunset date of January 1, 2026, for the existing biennial reporting and occupation tax requirements for domestic and foreign corporations in Nebraska. Currently, corporations are required to submit a report to the Secretary of State every two years, along with an occupation tax payment that varies based on the corporation's paid-up capital stock. The bill modifies multiple sections of Nebraska law to specify that these biennial reporting and tax payment requirements will only apply to even-numbered years before January 1, 2026. After this date, the existing provisions will be repealed. The bill maintains the current process for these reports, including the due dates (March 1), delinquency dates (April 15), and consequences for non-compliance, such as administrative dissolution for domestic corporations or revocation of business authority for foreign corporations. The occupation tax schedule remains unchanged, with taxes ranging from $26 to $23,990 depending on the corporation's capital stock. The bill essentially sets an expiration date for these existing corporate reporting and taxation requirements, potentially signaling a future review or revision of these regulations.

Business and Industry

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59395