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1,940 sections in this chapter.
Neb. Rev. Stat. § 77-5720 Year, defined.
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Year means calendar year.
Neb. Rev. Stat. § 77-5721 Year of application, defined.
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Year of application means the year that a completed application is filed under the Nebraska Advantage Act.
Neb. Rev. Stat. § 77-5722 Qualified employee leasing company; employees; duty.
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An employee of a qualified employee leasing company shall be considered to be an employee of the client-lessee for purposes of the Nebraska Advantage Act if the employee performs services for the client-lessee. A qualified employee leasing company shall provide the Department of …
Neb. Rev. Stat. § 77-5722.01 Employees; verification of status required; exclusion.
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(1) The Tax Commissioner shall not approve or grant to any person any tax incentive under the Nebraska Advantage Act unless the taxpayer provides evidence satisfactory to the Tax Commissioner that the taxpayer electronically verified the work eligibility status of all newly hired…
Neb. Rev. Stat. § 77-5723 Incentives; application; contents; fee; approval; when; agreements; contents; modification; foreign adversarial company; ineligible.
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(1) In order to utilize the incentives set forth in the Nebraska Advantage Act, the taxpayer shall file an application, on a form developed by the Tax Commissioner, requesting an agreement with the Tax Commissioner. (2) The application shall contain: (a) A written statement descr…
Neb. Rev. Stat. § 77-5724 Incentives; credits or benefits; limitation.
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The following transactions or activities shall not create any credits or allow any benefits under the Nebraska Advantage Act except as specifically allowed by this section: (1) The acquisition of a business after the date of application which is continued by the taxpayer as a par…
Neb. Rev. Stat. § 77-5725 Tiers; requirements; incentives; enumerated; deadlines.
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(1) Applicants may qualify for benefits under the Nebraska Advantage Act in one of six tiers: (a) Tier 1, investment in qualified property of at least one million dollars and the hiring of at least ten new employees. There shall be no new project applications for benefits under t…
Neb. Rev. Stat. § 77-5726 Credits; use; refund claims; procedures; interest; appointment of purchasing agent; protest; appeal.
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(1)(a) The credits prescribed in section 77-5725 for a year shall be established by filing the forms required by the Tax Commissioner with the income tax return for the taxable year which includes the end of the year the credits were earned. The credits may be used and shall be a…
Neb. Rev. Stat. § 77-5727 Recapture or disallowance of incentives.
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(1)(a) If the taxpayer fails either to meet the required levels of employment or investment for the applicable project within the time period prescribed in subsection (4) of section 77-5723 or to utilize such project in a qualified business at employment and investment levels at …
Neb. Rev. Stat. § 77-5728 Incentives; transfer; when; effect; disclosure of information.
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(1) The incentives allowed under the Nebraska Advantage Act shall not be transferable except in the following situations: (a) Any credit allowable to a partnership, a limited liability company, a subchapter S corporation, a cooperative, including a cooperative exempt under sectio…
Neb. Rev. Stat. § 77-5728.01 Base-year employees; recalculation, when.
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(1) If a taxpayer who has met the required levels of employment and investment contained in an agreement for a tier 6 project sells or transfers a portion of the business operations that were subject to such agreement, whether through a sale or other disposition pursuant to secti…
Neb. Rev. Stat. § 77-5729 Refunds; interest not allowable.
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Interest shall not be allowable on any refunds paid because of benefits earned under the Nebraska Advantage Act.
Neb. Rev. Stat. § 77-5730 Application; valid; when.
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Any complete application shall be considered a valid application on the date submitted for the purposes of the Nebraska Advantage Act.
Neb. Rev. Stat. § 77-5731 Reports; content; joint hearing.
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(1) The Tax Commissioner shall submit electronically an annual report to the Legislature no later than October 31 of each year. The report shall be on a fiscal year, accrual basis that satisfies the requirements set by the Governmental Accounting Standards Board. The Department o…
Neb. Rev. Stat. § 77-5733 Rules and regulations.
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The Tax Commissioner may adopt and promulgate all rules and regulations necessary to carry out the purposes of the Nebraska Advantage Act.
Neb. Rev. Stat. § 77-5734 Department of Revenue; estimate of sales and use tax refunds; duties.
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The Department of Revenue shall, on or before the fifteenth day of October and February of every year and the fifteenth day of April in odd-numbered years, make an estimate of the amount of sales and use tax refunds to be paid under the Nebraska Advantage Act during the fiscal ye…
Neb. Rev. Stat. § 77-5735 Changes to sections; when effective; applicability.
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(1) The changes made in sections 77-5703, 77-5708, 77-5712, 77-5714, 77-5715, 77-5723, 77-5725, 77-5726, 77-5727, and 77-5731 by Laws 2008, LB895, and sections 77-5707.01, 77-5719.01, and 77-5719.02 apply to all applications filed on and after April 18, 2008. For all applications…
Neb. Rev. Stat. § 77-5801 Act, how cited.
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Sections 77-5801 to 77-5808 shall be known and may be cited as the Nebraska Advantage Research and Development Act.
Neb. Rev. Stat. § 77-5801.01 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 increase research and development in Nebraska.
Neb. Rev. Stat. § 77-5802 Business firm, defined.
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For purposes of the Nebraska Advantage Research and Development Act, business firm means any business entity, including a corporation, a fiduciary, a sole proprietorship, a partnership, a joint venture, a limited liability company, or another private entity, that is subject to sa…
Neb. Rev. Stat. § 77-5803 Research tax credit; amount.
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(1)(a) Except as provided in subdivision (1)(b) of this section, any business firm which makes expenditures in research and experimental activities as defined in section 174 of the Internal Revenue Code of 1986, as amended, in this state shall be allowed a research tax credit as …
Neb. Rev. Stat. § 77-5804 Research tax credit; use; interest.
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(1) The credit allowed under section 77-5803 may be used (a) to obtain a refund of state sales and use taxes paid or (b) against the income tax liability of the taxpayer. (2) A claim for the credit may be filed quarterly for refund of the state sales and use taxes paid, either di…
Neb. Rev. Stat. § 77-5805 Building materials; sales or use tax; presumption.
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For purposes of subsections (2) and (3) of section 77-5804, the taxpayer shall be deemed to have paid indirectly any state sales or use taxes paid by a contractor on building materials annexed to an improvement to real estate built for the taxpayer. The contractor shall certify t…
Neb. Rev. Stat. § 77-5806 Applicability of act.
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The Nebraska Advantage Research and Development Act shall be operative for all tax years beginning or deemed to begin on or after January 1, 2006, under the Internal Revenue Code of 1986, as amended. No business firm shall be allowed to first claim the credit for any tax year beg…
Neb. Rev. Stat. § 77-5807 Report; contents; joint hearing.
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No later than October 31 of each year, the Tax Commissioner shall prepare a report stating the total amount of credits claimed on income tax returns or as refunds of sales and use tax during the previous fiscal year. The report shall be on a fiscal year, accrual basis that satisf…
Neb. Rev. Stat. § 77-5808 Employees; verification of status required, when; research tax credit; calculation.
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(1) This subsection shall apply for tax years beginning or deemed to begin on or after January 1, 2009, and before January 1, 2023. The Tax Commissioner shall not approve or grant to any person any tax incentive under the Nebraska Advantage Research and Development Act unless the…
Neb. Rev. Stat. § 77-5901 Act, how cited.
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Sections 77-5901 to 77-5908 shall be known and may be cited as the Nebraska Advantage Microenterprise Tax Credit Act.
Neb. Rev. Stat. § 77-5902 Act; administration; purpose.
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The Nebraska Advantage Microenterprise Tax Credit Act shall be administered by the Department of Revenue. The purpose of the act is to provide tax credits to applicants for creating or expanding microbusinesses that contribute to the state's economy through the creation of new or…
Neb. Rev. Stat. § 77-5903 Terms, defined.
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For purposes of the Nebraska Advantage Microenterprise Tax Credit Act: (1) Actively engaged in the operation of a microbusiness means personal involvement on a continuous basis in the daily management and operation of the business; (2) Equivalent employees means the number of emp…
Neb. Rev. Stat. § 77-5904 Tax credit; application; contents; advisory committee.
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(1) The Department of Revenue shall accept applications for tax credits from taxpayers who are actively engaged in the operation of a microbusiness or who will establish a microbusiness that they will actively operate within the current or subsequent tax year. Applications shall …
Neb. Rev. Stat. § 77-5905 Applications; approval; limit.
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(1) If the Department of Revenue determines that an application meets the requirements of section 77-5904 and that the investment or employment is eligible for the credit and (a) the applicant is actively engaged in the operation of the microbusiness or will be actively engaged i…
Neb. Rev. Stat. § 77-5906 Tax credit; amount; claim; expiration; interest.
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(1) Taxpayers shall be entitled to refundable tax credits for the taxpayer's new investment or new employment in the microbusiness during the tax year. The tax credits shall be equal to: (a) Twenty percent of the taxpayer's new investment; and (b) Twenty percent of the taxpayer's…
Neb. Rev. Stat. § 77-5907 Report; contents; joint hearing.
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(1) The Tax Commissioner shall prepare a report identifying the following aggregate amounts for the previous fiscal year: (a) The amount of projected employment and investment anticipated by taxpayers receiving tentative tax credits and the tentative tax credits granted; (b) the …
Neb. Rev. Stat. § 77-5908 Employees; verification of status required; exclusion.
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(1) The Tax Commissioner shall not approve or grant to any person any tax incentive under the Nebraska Advantage Microenterprise Tax Credit Act unless the taxpayer provides evidence satisfactory to the Tax Commissioner that the taxpayer electronically verified the work eligibilit…
Neb. Rev. Stat. § 77-601 Railroad operating property; assessment.
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The Property Tax Administrator shall assess all operating property of the railroads and railroad corporations in the State of Nebraska as defined in section 77-602.
Neb. Rev. Stat. § 77-602 Railroad operating property; duty of Property Tax Administrator; when valued.
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The Property Tax Administrator in May of each year shall proceed to ascertain all operating property of any railroad company owning, operating, or controlling any railroad or railroad service in this state. Operating property is property that contributes to the operation of a rai…
Neb. Rev. Stat. § 77-603 Railroad property; annual statement; contents.
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On or before April 15 each year, the person, company, or corporation owning, operating, or controlling any railroad or railroad service in this state shall, by a duly authorized corporate representative or official, return to the Property Tax Administrator a statement of the prop…
Neb. Rev. Stat. § 77-603.01 Railroad operating property; sale; report by purchaser; contents; penalty; waiver.
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The sale of railroad operating property as defined in section 77-602 shall be reported by the purchaser to the Property Tax Administrator within thirty days after the date of sale. The purchaser shall identify the seller, the date of the sale, any change in the name of the railro…
Neb. Rev. Stat. § 77-604 Railroad property; statement by railroad company not conclusive; taxable value; distribution; valuation per mile; how determined.
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The returns of railroad companies or corporations shall not be held to be conclusive as to the taxable value of the property, but the Property Tax Administrator shall, from all the information which he or she is able to obtain, including records of the Public Service Commission o…
Neb. Rev. Stat. § 77-605 Railroad operating property; failure of railroad to furnish statement or information; penalty; waiver.
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For each day's failure to furnish the statement required by section 77-603 or for each day's failure to furnish the information as required on those statements, the Tax Commissioner shall assess a penalty in the amount of one hundred dollars, except that the penalty shall not exc…
Neb. Rev. Stat. § 77-606 Railroad nonoperating property; annual statement by railroad to county assessor; when made.
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The county assessor shall assess all nonoperating property of any railroad company. A railroad company operating within the State of Nebraska shall, on or before January 1 of each year, report to the county assessor all nonoperating property belonging to such railroad company.
Neb. Rev. Stat. § 77-607 Railroad property; Tax Commissioner; hearing; power to compel attendance of railroad's officers or agents.
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The Tax Commissioner shall have power to require any officer, agent, or servant of any railroad or railway company having any portion of its property in this state to attend a hearing and to answer under oath questions regarding the property. The Tax Commissioner shall have power…
Neb. Rev. Stat. § 77-609 Railroad operating property; density factor; recalculation.
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Beginning January 1, 2001, the Property Tax Administrator shall annually calculate the density factor used in distributing value along the line based upon an average of the most recent three years. If a density factor cannot be determined in this manner, the Property Tax Administ…
Neb. Rev. Stat. § 77-6101 Act, how cited.
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Sections 77-6101 to 77-6106 shall be known and may be cited as the Long-Term Care Savings Plan Act.
Neb. Rev. Stat. § 77-6102 Terms, defined.
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For purposes of the Long-Term Care Savings Plan Act: (1) Long-term care expense means the cost of long-term care in a long-term care facility and the cost of care provided in a person's home when the person receiving the care is unable to perform multiple basic life functions ind…
Neb. Rev. Stat. § 77-6103 Nebraska long-term care savings plan; created; State Treasurer; powers and duties; participation agreement.
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(1) The Nebraska long-term care savings plan is created. The State Treasurer shall select the administrator of the plan. If the State Treasurer receives no acceptable responses to a request for proposals for an administrator for the plan by November 1, 2006, the State Treasurer m…
Neb. Rev. Stat. § 77-6104 Nebraska long-term care savings plan trust; created; State Treasurer; state investment officer; duties.
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If an administrator for the Nebraska long-term care savings plan is selected pursuant to section 77-6103, the Nebraska long-term care savings plan trust shall be created. The State Treasurer shall be the trustee of the trust and as such responsible for the administration, operati…
Neb. Rev. Stat. § 77-6105 Qualified individual; withdrawals authorized.
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A qualified individual as defined in subdivision (4)(a) of section 77-6102 may make withdrawals as a participant in the Nebraska long-term care savings plan to pay or reimburse long-term care expenses. A qualified individual as defined in subdivision (4)(b) of section 77-6102 may…
Neb. Rev. Stat. § 77-6106 Long-Term Care Savings Plan Act; termination; participant; entitled to account balance.
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The Long-Term Care Savings Plan Act terminates on January 1, 2018. Any participant in the Nebraska long-term care savings plan on the termination date shall be entitled to receive the full balance of his or her account on such date.
Neb. Rev. Stat. § 77-612 Railroad property; notice of valuation; appeal.
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On or before July 1, the Property Tax Administrator shall mail a draft appraisal to each railroad company required to file pursuant to section 77-603. The Property Tax Administrator shall, on or before July 15 of each year, notify by mail each railroad company of the total alloca…