reglab/housing_qa huggingface dataset:
NE Code § 77-5728 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5728 - Incentives; transfer; when; effect; disclosure of information.

77-5728.  Incentives; transfer; when; effect; disclosure of information.(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 section 521 of the Internal Revenue Code of 1986, as amended, a limited cooperative association, or an estate or trust may be distributed to the partners, members, shareholders, patrons, or beneficiaries in the same manner as income is distributed for use against their income tax liabilities, and such partners, members, shareholders, or beneficiaries shall be deemed to have made an underpayment of their income taxes for any recapture required by section 77-5727. A credit distributed shall be considered a credit used and the partnership, limited liability company, subchapter S corporation, cooperative, including a cooperative exempt under section 521 of the Internal Revenue Code of 1986, as amended, a limited cooperative association, estate, or trust shall be liable for any repayment required by section 77-5727; and(b) The incentives previously allowed and the future allowance of incentives may be transferred when a project covered by an agreement is transferred in its entirety by sale or lease to another taxpayer or in an acquisition of assets qualifying under section 381 of the Internal Revenue Code of 1986, as amended.(2) The acquiring taxpayer, as of the date of notification of the Tax Commissioner of the completed transfer, shall be entitled to any unused credits and to any future incentives allowable under the act.(3) The acquiring taxpayer shall be liable for any recapture that becomes due after the date of the transfer for the repayment of any benefits received either before or after the transfer.(4) If a taxpayer operating a project and allowed a credit under the act dies and there is a credit remaining after the filing of the final return for the taxpayer, the personal representative shall determine the distribution of the credit or any remaining carryover with the initial fiduciary return filed for the estate. The determination of the distribution of the credit may be changed only after obtaining the permission of the Tax Commissioner.(5) The Department of Revenue may disclose information to the acquiring taxpayer about the project and prior benefits that is reasonably necessary to determine the future incentives and liabilities of the project.Source  Laws 2005, LB 312, § 50;  Laws 2006, LB 1003, § 16;  Laws 2007, LB368, § 140;  Laws 2013, LB34, § 8.
NE Code § 77-5729 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5729 - Refunds; interest not allowable.

77-5729.  Refunds; interest not allowable.Interest shall not be allowable on any refunds paid because of benefits earned under the Nebraska Advantage Act.Source Laws 2005, LB 312, § 51.
NE Code § 77-5730 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5730 - Application; valid; when.

77-5730.  Application; valid; when.Any complete application shall be considered a valid application on the date submitted for the purposes of the Nebraska Advantage Act.Source Laws 2005, LB 312, § 52.
NE Code § 77-5733 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5733 - Rules and regulations.

77-5733.  Rules and regulations.The Tax Commissioner may adopt and promulgate all rules and regulations necessary to carry out the purposes of the Nebraska Advantage Act.Source Laws 2005, LB 312, § 55.
NE Code § 77-5734 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5734 - Department of Revenue; estimate of sales and use tax refunds; duties.

77-5734.  Department of Revenue; estimate of sales and use tax refunds; duties.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 years to be forecast under section 77-27,158. The estimate shall be based on the most recent data available, including pending and approved applications and updates thereof as are required by subdivisions (2)(e) and (6)(e) of section 77-5723. The estimate shall be forwarded to the Legislative Fiscal Analyst and the Nebraska Economic Forecasting Advisory Board and made a part of the advisory forecast required by section 77-27,158.Source  Laws 2005, LB 312, § 56;  Laws 2013, LB34, § 10.
NE Code § 77-5735 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5735 - Changes to sections; when effective; applicability.

77-5735.  Changes to sections; when effective; applicability.(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 filed prior to such date, the provisions of the Nebraska Advantage Act as they existed immediately prior to such date apply.(2) The changes made in sections 77-5725 and 77-5726 by Laws 2010, LB879, apply to all applications filed on or after July 15, 2010. For all applications filed prior to such date, the taxpayer may make a one-time election, within the time period prescribed by the Tax Commissioner, to have the changes made in sections 77-5725 and 77-5726 by Laws 2010, LB879, apply to such taxpayer's application, or in the absence of such an election, the provisions of the Nebraska Advantage Act as they existed immediately prior to July 15, 2010, apply to such application.(3) The changes made in sections 77-5707, 77-5715, 77-5719, and 77-5725 by Laws 2010, LB918, apply to all applications filed on or after July 15, 2010. For all applications filed prior to such date, the provisions of the Nebraska Advantage Act as they existed immediately prior to such date apply.(4) The changes made in sections 77-5701, 77-5703, 77-5705, 77-5715, 77-5723, 77-5725, 77-5726, and 77-5727 by Laws 2012, LB1118, apply to all applications filed on or after March 8, 2012. For all applications filed prior to such date, the provisions of the Nebraska Advantage Act as they existed immediately prior to such date apply.(5) The changes made in sections 77-5707.01, 77-5709, 77-5712, 77-5719, 77-5720, 77-5723, and 77-5726 by Laws 2013, LB34, apply to all applications filed on or after September 6, 2013. For all applications filed prior to such date, the provisions of the Nebraska Advantage Act as they existed immediately prior to such date apply.(6) The changes made in section 77-5726 by Laws 2017, LB161, apply to all applications filed before, on, or after August 24, 2017.Source  Laws 2008, LB895, § 20;  Laws 2010, LB879, § 20;  Laws 2010, LB918, § 5;  Laws 2012, LB1118, § 10;  Laws 2013, LB34, § 11;  Laws 2014, LB851, § 15;  Laws 2017, LB161, § 2.
NE Code § 77-5801 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5801 - Act, how cited.

77-5801.  Act, how cited.Sections 77-5801 to 77-5808 shall be known and may be cited as the Nebraska Advantage Research and Development Act.Source  Laws 2005, LB 312, § 59;  Laws 2009, LB403, § 12;  Laws 2014, LB836, § 4.
NE Code § 77-5801.01 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5801.01 - Legislative findings.

77-5801.01.  Legislative findings.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.Source Laws 2014, LB836, § 5.
NE Code § 77-5802 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5802 - Business firm, defined.

77-5802.  Business firm, defined.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 sales tax under section 77-2703. Business firm does not include a political subdivision or an organization that is exempt from income taxes under section 501(a) of the Internal Revenue Code of 1986, as amended.Source Laws 2005, LB 312, § 60.
NE Code § 77-5803 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5803 - Research tax credit; amount.

77-5803.  Research tax credit; amount.(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 provided in the Nebraska Advantage Research and Development Act. The credit amount under this subdivision shall equal fifteen percent of the federal credit allowed under section 41 of the Internal Revenue Code of 1986, as amended, or as apportioned to this state under subsection (2) of this section. The credit shall be allowed for the first tax year it is claimed and for the twenty tax years immediately following.(b) 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, on the campus of a college or university in this state or at a facility owned by a college or university in this state shall be allowed a research tax credit as provided in the Nebraska Advantage Research and Development Act. The credit amount under this subdivision shall equal thirty-five percent of the federal credit allowed under section 41 of the Internal Revenue Code of 1986, as amended, or as apportioned to this state under subsection (2) of this section. The credit shall be allowed for the first tax year it is claimed and for the twenty tax years immediately following.(2) For any business firm doing business both within and without this state, the amount of the federal credit may be determined either by dividing the amount expended in research and experimental activities in this state in any tax year by the total amount expended in research and experimental activities or by apportioning the amount of the credit on the federal income tax return to the state based on the average of the property factor as determined in section 77-2734.12 and the payroll factor as determined in section 77-2734.13.Source  Laws 2005, LB 312, § 61;  Laws 2007, LB223, § 31;  Laws 2008, LB915, § 7;  Laws 2009, LB555, § 1;  Laws 2012, LB983, § 1.
NE Code § 77-5804 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5804 - Research tax credit; use; interest.

77-5804.  Research tax credit; use; interest.(1) The credit allowed under section 77-5803 may be used to obtain a refund of state sales and use taxes paid, may be used against the income tax liability of the taxpayer, or may be used as a refundable credit claimed on an income tax return of the taxpayer. The return need not reflect any income tax liability owed by the taxpayer.(2) A claim for the credit may be filed quarterly for refund of the state sales and use taxes paid, either directly or indirectly, after the filing of the income tax return for the tax year in which the credit was first allowed.(3) The credit may be used to obtain a refund of state sales and use taxes paid before the end of the tax year for which the credit was allowed, except that the amount refunded under this subsection shall not exceed the amount of the state sales and use taxes paid, either directly or indirectly, by the taxpayer on the qualifying expenditures.(4) Credits distributed to a partner, limited liability company member, shareholder, or beneficiary may be used against the income tax liability of the partner, member, shareholder, or beneficiary receiving the credits.(5) Interest shall not be allowed on any taxes refunded under the Nebraska Advantage Research and Development Act.Source  Laws 2005, LB 312, § 62;  Laws 2009, LB164, § 9.
NE Code § 77-5805 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5805 - Building materials; sales or use tax; presumption.

77-5805.  Building materials; sales or use tax; presumption.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 to the taxpayer the amount of the state sales and use taxes paid on the building materials, or the taxpayer, with the permission of the Tax Commissioner and a certification from the contractor that state sales and use taxes were paid on all building materials, may presume that forty percent of the cost of the improvement was for building materials annexed to real estate on which the tax was paid.Source Laws 2005, LB 312, § 63.
NE Code § 77-5806 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5806 - Applicability of act.

77-5806.  Applicability of act.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 beginning or deemed to begin after December 31, 2022, under the Internal Revenue Code of 1986, as amended.Source  Laws 2005, LB 312, § 64;  Laws 2009, LB164, § 10;  Laws 2014, LB1067, § 3;  Laws 2015, LB538, § 14;  Laws 2016, LB1022, § 10.
NE Code § 77-5807 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5807 - Report; joint hearing.

77-5807.  Report; joint hearing.Beginning July 15, 2007, and each July 15 thereafter 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 calendar year. The Department of Revenue shall, on or before September 1 of each year, appear at a joint hearing of the Appropriations Committee of the Legislature and the Revenue Committee of the Legislature and present the report. Any supplemental information requested by three or more committee members shall be presented within thirty days after the request. No information shall be provided in the report that is protected by state or federal confidentiality laws.Source  Laws 2005, LB 312, § 65;  Laws 2013, LB612, § 8.
NE Code § 77-5808 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5808 - Employees; verification of status required.

77-5808.  Employees; verification of status required.The Tax Commissioner shall not approve or grant to any person any tax incentive under the Nebraska Advantage Research and Development Act unless the taxpayer provides evidence satisfactory to the Tax Commissioner that the taxpayer electronically verified the work eligibility status of all newly hired employees employed in Nebraska. This section does not apply to any credit claimed in a tax year beginning or deemed to begin before January 1, 2009, under the Internal Revenue Code of 1986, as amended.Source Laws 2009, LB403, § 13.
NE Code § 77-5901 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5901 - Act, how cited.

77-5901.  Act, how cited.Sections 77-5901 to 77-5908 shall be known and may be cited as the Nebraska Advantage Microenterprise Tax Credit Act.Source  Laws 2005, LB 312, § 66;  Laws 2009, LB403, § 14.
NE Code § 77-5902 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5902 - Act; administration; purpose.

77-5902.  Act; administration; purpose.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 improved income, self-employment, or other new jobs.Source  Laws 2005, LB 312, § 67;  Laws 2017, LB217, § 24.
NE Code § 77-5904 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5904 - Tax credit; application; contents; advisory committee.

77-5904.  Tax credit; application; contents; advisory committee.(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 be filed by November 1 and shall be complete by December 1 of each calendar year. Any application that is filed after November 1 or that is not complete on December 1 shall be considered to be filed during the following calendar year.(2) The department may convene an advisory committee of individuals with expertise in small business development, lending, and community development to evaluate applications and advise the department in authorizing tentative tax credits.(3) The application shall be on a form developed by the department and shall contain:(a) A description of the microbusiness;(b) The projected income and expenditures;(c) The market to be served by the microbusiness and the way the expansion addresses the market;(d) The amount of projected investment or employment increase that would generate the credit;(e) The projected improvement in income or creation of new self-employment or other jobs;(f) The nature of the applicant's engagement in the operation of the microbusiness; and(g) Other documents, plans, and specifications as required by the department.Source  Laws 2005, LB 312, § 69;  Laws 2007, LB223, § 32;  Laws 2017, LB217, § 26.
NE Code § 77-5905 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5905 - Applications; approval; limit.

77-5905.  Applications; approval; limit.(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 in the operation upon its establishment, (b) the applicant will make new investment or employment in the microbusiness, and (c) the new investment or employment will create new income or jobs, the department shall approve the application and authorize tentative tax credits to the applicant within the limits set forth in this section and certify the amount of tentative tax credits approved for the applicant. Applications for tax credits shall be considered in the order in which they are received.(2) The department may approve applications up to the adjusted limit for each calendar year beginning January 1, 2006, through December 31, 2032. After applications totaling the adjusted limit have been approved for a calendar year, no further applications shall be approved for that year. The adjusted limit in a given year is two million dollars plus tentative tax credits that were not granted by the end of the preceding year. Tax credits shall not be allowed for a taxpayer receiving benefits under the Employment and Investment Growth Act, the Nebraska Advantage Act, the Nebraska Advantage Rural Development Act, the ImagiNE Nebraska Act, or the Urban Redevelopment Act.Source  Laws 2005, LB 312, § 70;  Laws 2009, LB164, § 11;  Laws 2014, LB1067, § 4;  Laws 2015, LB538, § 15;  Laws 2016, LB1022, § 11;  Laws 2017, LB217, § 27;  Laws 2020, LB1107, § 138;  Laws 2021, LB366, § 2;  Laws 2021, LB544, § 34.   Note: The Revisor of Statutes has pursuant to section 49-769 correlated LB366, section 2, with LB544, section 34, to reflect all amendments.  Note: Changes made by LB366 became effective August 28, 2021. Changes made by LB544 became operative January 1, 2022. Cross References   Employment and Investment Growth Act, see section 77-4101.  ImagiNE Nebraska Act, see section 77-6801.  Nebraska Advantage Act, see section 77-5701.  Nebraska Advantage Rural Development Act, see section 77-27,187.  Urban Redevelopment Act, see section 77-6901.
NE Code § 77-5906 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5906 - Tax credit; amount; claim; expiration; interest.

77-5906.  Tax credit; amount; claim; expiration; interest.(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 new employment.(2) The total amount of tax credits shall not exceed the amount of tentative tax credits approved by the department under section 77-5905.(3) The taxpayer shall claim the tax credit by filing a form developed by the Tax Commissioner and attaching the tentative tax credit certification granted by the department. Tentative tax credits expire after the end of the tax year following the year the tentative tax credit was certified.(4) The total lifetime tax credits claimed by any one taxpayer and any related person under the Nebraska Advantage Microenterprise Tax Credit Act shall be limited to twenty thousand dollars.(5) Interest shall not be allowed on any taxes refunded under the act.(6) The changes made to this section by Laws 2021, LB366, shall apply to all applications for benefits received on or after August 28, 2021.Source  Laws 2005, LB 312, § 71;  Laws 2009, LB164, § 12;  Laws 2021, LB366, § 3.   Effective Date: August 28, 2021
NE Code § 77-5907 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5907 - Report; joint hearing.

77-5907.  Report; joint hearing.(1) The Tax Commissioner shall prepare a report identifying the following aggregate amounts for the previous calendar year: (a) The amount of projected employment and investment anticipated by taxpayers receiving tentative tax credits and the tentative tax credits granted; (b) the actual amount of employment and investment made by taxpayers that were granted tentative tax credits in the previous calendar year; (c) the tax credits used; and (d) the tentative tax credits that expired. The report shall be issued on or before July 15, 2007, and each July 15 thereafter. The Department of Revenue shall, on or before September 1 of each year, appear at a joint hearing of the Appropriations Committee of the Legislature and the Revenue Committee of the Legislature and present the report. Any supplemental information requested by three or more committee members shall be presented within thirty days after the request.(2) Beginning with applications filed on or after August 28, 2021, the report shall provide information on project-specific total credits used every two years for each approved application and shall disclose (a) the identity of the taxpayer, (b) the location or locations where the taxpayer is earning credits, (c) the new investment or new employment that was actually produced by the taxpayer to earn credits, and (d) the total credits used during the immediately preceding two years, expressed as a single, aggregated total.(3) No information shall be provided in the report that is protected by state or federal confidentiality laws.Source  Laws 2005, LB 312, § 72;  Laws 2013, LB612, § 9;  Laws 2021, LB366, § 4.   Effective Date: August 28, 2021