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1,940 sections in this chapter.
Neb. Rev. Stat. § 77-5519 Genetic test, defined.
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Genetic test means the analysis of human DNA, RNA, and chromosomes and those proteins and metabolites used to detect heritable or somatic disease-related genotypes or karyotypes for clinical purposes. A genetic test must be generally accepted in the scientific and medical communi…
Neb. Rev. Stat. § 77-5520 Investment, defined.
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Investment means the value of qualified property incorporated into or used at the project after the date of the application. For qualified property owned by the company, the value is the original cost of the property. For qualified property rented by the company, the value is the…
Neb. Rev. Stat. § 77-5521 Nebraska average annual wage, defined.
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Nebraska average annual wage means the most recent average annual wage paid by all employers in this state for the most recent calendar year as reported by the Department of Labor on or before the July 1 immediately prior to the beginning of the particular year the company applie…
Neb. Rev. Stat. § 77-5522 Number of new employees, defined.
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Number of new employees means the excess of the number of equivalent employees employed at the project during a year over the number of equivalent employees during the base year.
Neb. Rev. Stat. § 77-5523 Project, defined.
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Project means a project described in the Invest Nebraska Act and approved by the board.
Neb. Rev. Stat. § 77-5524 Project year, defined.
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Project year means any year or portion of a year during the entitlement period of the project.
Neb. Rev. Stat. § 77-5525 Qualified business, defined.
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Qualified business means any business engaged in the activities listed in subdivisions (1) through (5) of this section or in the storage, warehousing, distribution, transportation, or sale of tangible personal property. Qualified business does not include any business activity in…
Neb. Rev. Stat. § 77-5526 Qualified employee leasing company, defined.
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Qualified employee leasing company means a company which places all employees of a client-lessee on its payroll and leases such employees to the client-lessee on an ongoing basis for a fee and, by written agreement between the employee leasing company and a client-lessee, grants …
Neb. Rev. Stat. § 77-5527 Qualified property, defined.
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Qualified property means any tangible property of the type subject to depreciation, amortization, or other recovery under the Internal Revenue Code of 1986, as amended, or the components of such property that will be located and used at the project. Qualified property does not in…
Neb. Rev. Stat. § 77-5528 Related persons, defined.
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Related persons means any corporations, partnerships, limited liability companies, or joint ventures which are or would otherwise be members of the same unitary group, if incorporated, or any persons who are considered to be related persons under section 267(b) and (c) of the Int…
Neb. Rev. Stat. § 77-5529 Start date, defined.
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Start date means the first date after the date of the application on which a qualified investment, that is either all or a part of a building in the project, is placed in service by the owner. For purposes of this definition, placed in service has the same meaning as that used fo…
Neb. Rev. Stat. § 77-5530 Year, defined.
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Year means the taxable year of the company.
Neb. Rev. Stat. § 77-5531 Wage benefit credit; calculation; use.
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(1) The policy of the state in adopting the Invest Nebraska Act is to encourage new businesses to relocate to and existing businesses to expand in Nebraska and to provide appropriate inducements to encourage new and existing businesses to do so. Depending on the nature of the com…
Neb. Rev. Stat. § 77-5532 Refund; interest disallowed.
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Interest shall not be allowable on any refunds paid because of benefits earned under the Invest Nebraska Act.
Neb. Rev. Stat. § 77-5533 Alternate investment tax credit; use.
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(1) A company which has signed an agreement under section 77-5536 may receive, in lieu of any wage benefit credit otherwise allowed by the Invest Nebraska Act, the incentive provided in this section if the agreement is for a project which will result in the investment in qualifie…
Neb. Rev. Stat. § 77-5534 Application; contents; fee; confidentiality.
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(1) In order for the company to be eligible for the wage benefit credit or the investment tax credit, as applicable, the company shall file an application for an agreement with the board. (2) The application shall contain: (a) The exact name of the company and any related compani…
Neb. Rev. Stat. § 77-5535 Board; quorum; meetings; procedures.
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(1) Any two members of the board shall constitute a quorum for the transaction of the business of the board. The Governor shall be the chairperson of the board. The address of the board is the Department of Revenue. (2)(a) The Tax Commissioner is designated as the secretary of th…
Neb. Rev. Stat. § 77-5536 Application; approval; procedure.
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(1) The board shall determine whether to approve the company's application by majority vote based on its determination as to whether the project will sufficiently help enable the state to accomplish the purposes of the Invest Nebraska Act. The board shall be governed by and shall…
Neb. Rev. Stat. § 77-5537 Employment practices prohibited.
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A company entering into an agreement under the Invest Nebraska Act is prohibited from requiring as a condition of employment or promotion at the project that an employee or an individual applying for employment at the project submit to a genetic test or provide genetic informatio…
Neb. Rev. Stat. § 77-5538 Tax credit; recapture or disallowance; interest and penalties.
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(1) If the company fails to utilize a project in a qualified business at or above the required levels of employment and investment required in the Invest Nebraska Act for the entire entitlement period, a portion of the wage benefit credit or investment tax credit shall be recaptu…
Neb. Rev. Stat. § 77-5539 Transfer of project.
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A project covered by an agreement may be transferred in its entirety by sale or lease to another person or in an acquisition of assets qualifying under section 381 of the Internal Revenue Code of 1986, as amended. The acquiring persons shall be entitled to the same benefits as th…
Neb. Rev. Stat. § 77-5540 Transactions and activities excluded.
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The following transactions or activities shall not create an investment, result in an increase in the number of new employees, or create any wage benefit credits or investment tax credits under the Invest Nebraska Act except as specifically allowed by this section: (1) The acquis…
Neb. Rev. Stat. § 77-5541 Rules and regulations.
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The Department of Revenue, in consultation with the Governor and the Department of Economic Development, may, but is not required to, adopt and promulgate all rules and regulations determined by the Tax Commissioner in his or her discretion to be necessary or appropriate to carry…
Neb. Rev. Stat. § 77-5542 Report; contents; joint hearing.
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(1) The Department of Revenue shall submit electronically an annual report to the Legislature no later than July 15 each year. The report shall list (a) the agreements which have been signed during the previous calendar year, (b) the agreements which are still in effect, (c) the …
Neb. Rev. Stat. § 77-5543 Filing of applications; limitation.
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(1) Except as provided in subsection (2) of this section, there shall be no project applications filed on or after June 1, 2005, without further authorization of the Legislature, except that all project applications and all project agreements pending, approved, or entered into be…
Neb. Rev. Stat. § 77-5544 Audit; costs; confidentiality; violation; penalty.
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(1) By January 1, 2005, and each January 1 every five years thereafter for so long as there are companies that have qualified for benefits and remain within the entitlement period and there are sufficient companies qualified for benefits so as not to reveal confidential informati…
Neb. Rev. Stat. § 77-5601 Tax amnesty program; application; department; powers and duties; Department of Revenue Enforcement Fund; created; use; investment.
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(1) From August 1, 2004, through October 31, 2004, there shall be conducted a tax amnesty program with regard to taxes due and owing that have not been reported to the Department of Revenue. Any person applying for tax amnesty shall pay all unreported taxes that were due on or be…
Neb. Rev. Stat. § 77-5701 Act, how cited.
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Sections 77-5701 to 77-5735 shall be known and may be cited as the Nebraska Advantage Act.
Neb. Rev. Stat. § 77-5702 Legislative findings.
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The Legislature hereby finds and declares that it is the policy of this state to make revisions in Nebraska's tax structure in order to (1) encourage new businesses to relocate to Nebraska, (2) retain existing businesses and aid in their expansion, (3) promote the creation and re…
Neb. Rev. Stat. § 77-5703 Definitions, where found.
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For purposes of the Nebraska Advantage Act, the definitions found in sections 77-5704 to 77-5721 shall be used.
Neb. Rev. Stat. § 77-5704 Applicability of other definitions.
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Any term shall have the same meaning as used in Chapter 77, article 27.
Neb. Rev. Stat. § 77-5705 Base year, defined.
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Except for a tier 5 project that is sequential to a tier 2 large data center project, base year means the year immediately preceding the year of application. For a tier 5 project that is sequential to a tier 2 large data center project, the base year means the last year of the ti…
Neb. Rev. Stat. § 77-5706 Base-year employee, defined.
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Base-year employee means any individual who was employed in Nebraska and subject to the Nebraska income tax on compensation received from the taxpayer or its predecessors during the base year and who is employed at the project.
Neb. Rev. Stat. § 77-5707 Compensation, defined.
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Compensation means the wages and other payments subject to the federal medicare tax.
Neb. Rev. Stat. § 77-5707.01 County average weekly wage, defined.
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County average weekly wage for any year means the most recent average weekly wage paid by all employers in the county as reported by the Department of Labor by October 1 of the year prior to application.
Neb. Rev. Stat. § 77-5707.02 Data center, defined.
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Data center means computers, supporting equipment, and other organized assembly of hardware or software that are designed to centralize the storage, management, or dissemination of data and information, environmentally controlled structures or facilities or interrelated structure…
Neb. Rev. Stat. § 77-5708 Entitlement period, defined.
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Entitlement period, for a tier 1 or tier 3 project, means the year during which the required increases in employment and investment were met or exceeded and each year thereafter until the end of the ninth year following the year of application or the sixth year after the year the…
Neb. Rev. Stat. § 77-5709 Equivalent employees, defined.
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Equivalent employees means the number of employees computed by dividing the total hours paid in a year by the product of forty times the number of weeks in a year. A salaried employee who receives a predetermined amount of compensation each pay period on a weekly or less frequent…
Neb. Rev. Stat. § 77-5710 Investment, defined.
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Investment means the value of qualified property incorporated into or used at the project. For qualified property owned by the taxpayer, the value shall be the original cost of the property. For qualified property rented by the taxpayer, the average net annual rent shall be multi…
Neb. Rev. Stat. § 77-5711 Motor vehicle, defined.
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Motor vehicle means any motor vehicle, trailer, or semitrailer as defined in the Motor Vehicle Registration Act and subject to registration for operation on the highways.
Neb. Rev. Stat. § 77-5712 Nebraska average weekly wage, defined.
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Nebraska average weekly wage for any year means the most recent average weekly wage paid by all employers in all counties in Nebraska as reported by the Department of Labor by October 1 of the year prior to application.
Neb. Rev. Stat. § 77-5713 Nebraska employee, defined.
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Nebraska employee means an individual who is either a resident or partial-year resident of Nebraska.
Neb. Rev. Stat. § 77-5714 Number of new employees, defined.
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(1) Number of new employees, for a tier 1, tier 2, tier 3, or tier 4 project, means the number of equivalent employees that are employed at the project during a year that are in excess of the number of equivalent employees during the base year, not to exceed the number of equival…
Neb. Rev. Stat. § 77-5715 Qualified business, defined.
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(1) For a tier 2, tier 3, tier 4, or tier 5 project, qualified business means any business engaged in: (a) The conducting of research, development, or testing for scientific, agricultural, animal husbandry, food product, or industrial purposes; (b) The performance of data process…
Neb. Rev. Stat. § 77-5716 Qualified employee leasing company, defined.
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Qualified employee leasing company means a company which places all employees of a client-lessee on its payroll and leases such employees to the client-lessee on an ongoing basis for a fee and, by written agreement between the employee leasing company and a client-lessee, grants …
Neb. Rev. Stat. § 77-5717 Qualified property, defined.
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Qualified property means any tangible property of a type subject to depreciation, amortization, or other recovery under the Internal Revenue Code of 1986, as amended, or the components of such property, that will be located and used at the project. Qualified property does not inc…
Neb. Rev. Stat. § 77-5718 Related persons, defined.
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Related persons means any corporations, partnerships, limited liability companies, or joint ventures which are or would otherwise be members of the same unitary group, if incorporated, or any persons who are considered to be related persons under either section 267(b) and (c) or …
Neb. Rev. Stat. § 77-5719 Taxpayer, defined.
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Taxpayer means any person subject to sales and use taxes under the Nebraska Revenue Act of 1967 and subject to withholding under section 77-2753 and any entity that is or would otherwise be a member of the same unitary group, if incorporated, that is subject to such sales and use…
Neb. Rev. Stat. § 77-5719.01 Tier 6 weekly required compensation, defined.
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Tier 6 weekly required compensation means two hundred percent of the county average weekly wage for the county in which the project is located or one hundred fifty percent of the state average weekly wage, whichever is higher. If the project is located in more than one county, th…
Neb. Rev. Stat. § 77-5719.02 Wages, defined.
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Wages means compensation.