77-7002 – Terms, defined.
77-7002. Terms, defined. For purposes of the Nebraska Higher Blend Tax Credit Act: (1) Department means the Department of Revenue; (2) E-15 means ethanol blended gasoline formulated with a percentage of fifteen percent by volume of ethanol; (3) E-25 means ethanol blended gasoline formulated with a percentage of twenty-five percent by volume of ethanol; (4) […]
77-7003 – Tax credit; eligibility; amount; use; application.
77-7003. Tax credit; eligibility; amount; use; application. (1) Any taxpayer who is a retail dealer and who sold and dispensed E-15 or higher blend on a retail basis during the prior calendar year through a motor fuel pump located at the taxpayer’s retail motor fuel site shall be eligible to receive tax credits under the […]
77-6916 – Taxpayer, defined.
77-6916. Taxpayer, defined. 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 taxes and […]
77-6917 – Wages, defined.
77-6917. Wages, defined. Wages means the wages and other payments subject to the federal medicare tax. Source Laws 2021, LB544, § 17.
77-6918 – Year, defined.
77-6918. Year, defined. Year means the taxable year of the taxpayer. Source Laws 2021, LB544, § 18.
77-6919 – Incentives; application; contents; fee; approval; conditions; agreement; confidentiality; limitation on new applications.
77-6919. Incentives; application; contents; fee; approval; conditions; agreement; confidentiality; limitation on new applications. (1) To earn the incentives set forth in the Urban Redevelopment Act, the taxpayer shall file an application for an agreement with the Director of Economic Development. (2) The application shall: (a) Identify the taxpayer applying for incentives; (b) Identify the location […]
77-6920 – Tax credits; conditions; amounts; teleworker; treatment.
77-6920. Tax credits; conditions; amounts; teleworker; treatment. (1) A tax credit shall be allowed to any taxpayer who has an approved application pursuant to the Urban Redevelopment Act if the taxpayer: (a) Attains a cumulative investment in qualified property of at least one hundred fifty thousand dollars and hires at least five new employees at […]
77-6921 – Existing business acquisition, disposal, reorganization, or relocation; computation; certain transactions excluded.
77-6921. Existing business acquisition, disposal, reorganization, or relocation; computation; certain transactions excluded. (1)(a) If the taxpayer acquires an existing business, the increases in investment and employment shall be computed as though the taxpayer had owned the business for the entire taxable year preceding the date of application. (b) If the taxpayer disposes of an existing […]
77-6922 – Tax credits; use.
77-6922. Tax credits; use. (1) The credits allowed under section 77-6920 may be used: (a) To obtain a refund of sales and use taxes paid under the Local Option Revenue Act, the Nebraska Revenue Act of 1967, the Qualified Judgment Payment Act, and sections 13-319, 13-324, and 13-2813; (b) As a refundable income tax credit […]
77-6923 – Tax credits; recapture; amount; deadline.
77-6923. Tax credits; recapture; amount; deadline. (1) If the taxpayer fails to maintain employment and investment levels at or above the levels required in the agreement for the entire performance period, any refunds or reduction in tax allowed under the Urban Redevelopment Act shall be partially recaptured from the taxpayer. The amount of the recapture […]