Chapter 77 — REVENUE AND TAXATION
2,526 sections in this chapter.
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.
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…
Repealed. Laws 2008, LB 914, § 29.
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[Repealed or reserved.]
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.