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One of the salient aspects of establishing a startup company Nebraska is that you will be able to leverage the business-friendly climate and community. The Business Facilities magazine ranked Nebraska among the top 10 states in terms of business climate. It is one of the most competitive locations for businesses in the entire midwest because of the following:
Transportation and logistics
A strong transportation and logistics network that includes Interstates/Highways, Rail, Freight Services, Air, and even Waterways. The network enables businesses including manufacturing, agriculture, mining, and services to derive optimum results.
Workforce and training
If you register a new company in Nebraska, you can leverage a job-ready workforce. Your business can achieve high productivity levels as the workforce is well trained, has necessary skills for technical, service sector, blue collar, and white collar occupations.
Whether you are planning a small start-up or a mid-size business establishment, you can access a variety of business resources made available by the state of Nebraska. The resources vary from learning how to start or do business in Nebraska to benefiting from funds, grants, and incentives offered by the state and counties.
Advantages for setting up an LLC or Corporation in Nebraska
One of the advantages of Nebraska Corporation is that the state has implemented a pro-business tax structure. If you establish a start-up company in Nebraska then these are some of the tax benefits:
– No sales tax on raw materials used for manufacturing
– No inventory tax
– No state property tax
– No sales tax on sales of energy used for manufacturing purposes
– No personal property tax on intangibles
– Sales and use tax credits on property that qualifies for specific investment incentives
If you register a new business in Nebraska as an S Corporation then the most important advantage is that it will enjoy an independent life. The business entity will continue operation undisturbed even if it is faced with the death of one of its stockholders. If you have formed an S Corporation in Nebraska then sale, purchase, as well as gifting of stock can facilitate changes in ownership. The changes can take place without disturbing the ability of the corporation to conduct its business.
Register a company as an LLC in Nebraska
If you are planning to register a new company in Nebraska as an LLC then you can benefit from the fact that Nebraska’s economic development, tax, and finance organizations provide a variety of incentive programs that aim at supporting new businesses during their start-up phase. The Nebraska Progress Loan Fund (NPLF) and the Angel Sidecar Fund are two programs that provide funding to start-up companies.
The owner of a Nebraska LLC will be able to enjoy limited liability protection, which means creditors can sue the LLC but not the owner or investors. Also when you register a new business in Nebraska as an LLC, it will enjoy the benefit of being able to select different ways of distribution of profits.
Business Incentive Programs
Starting a business is not as difficult as sustaining a business and this is where you can take advantage of the several programs that are targeted at aiding growth and expansion of small and medium sized enterprises (SME’s). Let’s take a look at some of the top programs for a start-up company in Nebraska:
Disadvantages of incorporating in Nebraska
If you are wondering if there are any disadvantages when you register a new company in Nebraska then it is important to know that the disadvantages are few as compared to the advantages or benefits. The disadvantages are specific to the type of business entity you form like a limited liability company has “Limited Life” while the process of incorporation takes more time than other forms of organization. The bottom line is that Nebraska is one of the best locations to start your business and help it achieve growth.