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Businesses registered in Nebraska are mandated to file periodic reports to maintain active registration status. This includes corporations, benefit corporations, nonprofits, limited liability companies, and partnerships. Failure to submit the required report and pay the associated tax or fee during the designated reporting periods can lead to administrative dissolution.

Annually, numerous entities face dissolution due to non-compliance with this legal requirement. Under Nebraska law, an administratively dissolved entity may continue to exist but cannot conduct business operations, except for activities necessary to wind up and liquidate its affairs. Additionally, the entity may lose its limited liability protection and exclusive rights to its name. Consequently, the dissolved entity would no longer be considered in good standing and would be ineligible to obtain a certificate of good standing, which is often required by lenders before approving loans.