Nebraska Revised Statutes — Chapter 77 (Revenue and Taxation)
Neb. Rev. Stat. § 77-7004
Tax credit; application; approval; limitation; department; duties
# (1)
If the department determines that an application is complete and that the taxpayer qualifies for tax credits, the department shall approve the application within the limits set forth in this section and shall certify the amount of tax credits approved to the taxpayer.
# (2)
The department shall consider applications in the order in which they are received and may approve tax credits until the annual limit for the calendar year has been reached. For calendar year 2022, the annual limit on tax credits shall be two million dollars. For calendar year 2023, the annual limit on tax credits shall be calculated by taking the annual limit from the prior calendar year and then multiplying such amount by (a) two hundred percent if the amount of tax credits approved in the prior calendar year exceeded ninety percent of the annual limit applicable to that calendar year or (b) one hundred percent if the amount of tax credits approved in the prior calendar year did not exceed ninety percent of the annual limit applicable to that calendar year. For calendar years 2024 through 2028, the annual limit on tax credits shall be five million dollars
Source: view the official text
In this chapter (40 sections)
- 77-6606 · Tax credit; application; contents; requirements; approval;…
- 77-6607 · Tax credit; amount; use; how claimed
- 77-6608 · Tax credit; reduction, termination, or rescission; repayment…
- 77-6609 · Trade secret; confidentiality
- 77-6610 · Reports
- 77-6611 · Rules and regulations
- 77-6701 · Act, how cited
- 77-6702 · Terms, defined
- 77-6703 · Tax credit for school district taxes paid
- 77-6704 · Tax credit; refundable; procedure for certain taxpayers
- 77-6705 · Rules and regulations
- 77-6706 · Tax credit for community college taxes paid
- 77-6911 · Performance period, defined
- 77-6912 · Qualified location, defined
- 77-6913 · Qualified property, defined
- 77-6914 · Ramp-up period, defined
- 77-6915 · Related taxpayers, defined
- 77-6916 · Taxpayer, defined
- 77-6917 · Wages, defined
- 77-6918 · Year, defined
- 77-6919 · Incentives; application; contents; fee; approval; conditions;…
- 77-6920 · Tax credits; conditions; amounts; teleworker; treatment
- 77-6921 · Existing business acquisition, disposal, reorganization, or…
- 77-6922 · Tax credits; use
- 77-6923 · Tax credits; recapture; amount; deadline
- 77-6924 · Employees; verification of status required; exclusions
- 77-6925 · Incentives; transfer; when
- 77-6926 · Refunds; interest not allowable
- 77-6927 · Base-year employment levels; review and certification; effect
- 77-6928 · Reports
- 77-7001 · Act, how cited
- 77-7002 · Terms, defined
- 77-7003 · Tax credit; eligibility; amount; use; application
- 77-7004 · Tax credit; application; approval; limitation; department;…
- 77-7005 · Tax credit; how claimed; excess; how treated
- 77-7006 · Tax credit; distribution
- 77-7007 · Limitation on new applications
- 77-7008 · Rules and regulations
- 77-7009 · Nebraska Biodiesel Tax Credit Act, how cited
- 77-7010 · Terms, defined