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 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?
- 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
|ONE||$1 MILLION||10||5 YEARS|
|TWO||$3 MILLION||30||7 YEARS|
|TWO (LARGE DATA CENTER)||$200 MILLION||30||7 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|
There are all types of considerations from a tax perspective for Name, Image and Likeness (NIL) deals. Most likely, the athlete will be…
This webinar provides updates on Employee Retention Credits (ERC) and the ImagiNE incentive program. The qualifications required…
Governor Kim Reynolds signed the House File 2317 into law on March 1, 2022. Most notably, it included income tax rate reductions…