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2025 Nebraska Revised Statutes
Chapter 21 - Corporations and Other Companies
21-104 - Nature, purpose and duration of limited liability company; classification for tax purposes.

Universal Citation:
NE Code § 21-104 (2025)
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21-104. Nature, purpose and duration of limited liability company; classification for tax purposes.

(RULLCA 104) (a) A limited liability company is an entity distinct from its members.

(b) A limited liability company may have any lawful purpose, except that a limited liability company may not operate as an insurer as defined in section 44-103.

(c) A limited liability company has perpetual duration.

(d) A limited liability company shall be classified for state income tax purposes in the same manner as it is classified for federal income tax purposes.

Source

  • Laws 2010, LB888, § 4;
  • Laws 2016, LB758, § 1.

Annotations

  • Because a limited liability company is an entity distinct from its members, any personal injuries suffered by a member of such a company are not personal injuries suffered by the company. Alpha Wealth Advisors v. Cook, 313 Neb. 237, 983 N.W.2d 526 (2023).

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