THE NEBRASKA ADVANTAGE ACT (LB312)
The Nebraska Advantage Program
The Nebraska Advantage program is designed to reward organizations through both short- and long-term performance-based incentives.
Benefits
Benefits include tax credits and sales/use tax refunds based on the dollars invested and jobs created by a particular project. Benefits can also include personal property tax exemptions.
An Application and Fee Are Required Prior to the Start of Investment at the Project
Application fee from $1,000 to $10,000, depending upon Tier level. The application date is VERY IMPORTANT.
WHO CAN APPLY IN TIER 1?
- Manufacturing
- Research and development
- Exportable services including: software development, computer systems design, product testing, guidance or surveillance systems and technology licensing
WHO CAN APPLY IN TIERS 2, 3, 4, & 5?
- Same industries as under Tier 1, plus:
- Call centers, data centers and telecommunications
- Headquarters/administrative operations
- Data processing and web portals
- Insurance and financial services
- Distribution and warehousing
- Satellite ground services
- Retail sales of tangible personal property
WHO CAN APPLY IN TIER 6?
- All businesses, other than retail, that create 50 or 75 high-paying quality jobs
APPLICATION TIER |
INVESTMENT |
JOB CREATION |
ATTAINMENT PERIOD |
| ONE | $1 MILLION | 10 | 5 YEARS |
| TWO | $3 MILLION | 30 | 7 YEARS |
| TWO (LARGE DATA CENTER) | $200 MILLION | 30 | 7 YEARS |
| THREE | $0 | 30 | 5 YEARS |
| FOUR | $11 MILLION | 100 | 7 YEARS |
| FIVE | $34 MILLION | 0 (MAINTAIN JOBS) | 7 YEARS |
| FIVE (RENEWABLE ENERGY) | $20 MILLION | 0 (MAINTAIN JOBS) | 7 YEARS |
| SIX (OPTION ONE) | $10 MILLION | 75 HIGH-PAYING JOBS | 5 YEARS |
| SIX (OPTION TWO) | $100 MILLION | 50 HIGH-PAYING JOBS | 5 YEARS |
INSIGHTS
4 Steps to Remain Sales Tax Compliant
Sales tax is an often misunderstood and hard-to-navigate area of tax compliance. Here are four steps to remain sales tax compliant…
Tax Implications of Name, Image and Likeness (NIL) Deals
There are all types of considerations from a tax perspective for Name, Image and Likeness (NIL) deals. Most likely, the athlete will be…
5.11.22 | ERC + ImagiNE: Business Tax Incentives Explained | Recording
This webinar provides updates on Employee Retention Credits (ERC) and the ImagiNE incentive program. The qualifications required…
About Us | Our Team | Events | Careers | Locations