This bill amends the Reissue Revised Statutes of Nebraska to update the biennial reporting and occupation tax requirements for both domestic and foreign corporations. A key provision establishes a sunset date of January 1, 2026, for the submission of biennial reports and payment of occupation taxes, mandating that these reports be delivered to the Secretary of State by March 1 of each even-numbered year, with a grace period until April 15 for payment. Corporations that fail to comply may face administrative dissolution or revocation of their authority to conduct business in Nebraska. The bill also requires the Secretary of State to notify corporations that have not met their reporting or tax obligations by the due date, emphasizing the importance of timely compliance.

Additionally, the bill outlines the procedures for revoking a foreign corporation's certificate of authority to conduct business in Nebraska, specifying that the Secretary of State must file the original certificate and serve a copy to the corporation. The authority to transact business will cease on the date indicated in the revocation certificate, but the revocation does not terminate the authority of the corporation's registered agent. The bill establishes that all delinquent occupation taxes will be a lien on the corporation's assets, subordinate only to state, county, and municipal taxes. Furthermore, it stipulates that a foreign corporation cannot voluntarily withdraw from doing business in the state until all owed occupation taxes have been paid and a biennial report has been filed. The bill also includes the repeal of several original sections of the Reissue Revised Statutes of Nebraska.

Statutes affected:
Introduced: 21-301, 21-303, 21-304, 21-306, 21-313, 21-323, 21-325