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LUTZ ACCOUNTING

Nebraska Advantage Act

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LB312 Overview

+ 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 in the project. Fees range from $1,000 to $10,000, depending upon Tier level. The application date is VERY IMPORTANT.

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Who Can Apply?

Tier 1
+ Manufacturing
+ Research & Development
+ Exportable Services Including: Software Development, Computer Systems Design, Product Testing, Guidance or Surveillance Systems, Technology Licensing

Tiers 2, 3, 4, & 5
+ Tier 1 Industries
+ Call Centers, Data Centers, & Telecommunications
+ Headquarters/Administrative Operations
+ Data Processing & Web Portals
+ Insurance & Financial Services
+ Distribution & Warehousing
+ Satellite Ground Services
+ Retail Sales of Tangible Personal Property

Tier 6
+ All Businesses (Other Than Retail) That Create 50 or 75 High-Paying Quality Jobs

Application Tiers

APPLICATION TIER

INVESTMENT

JOB CREATION

ATTAINMENT PERIOD

1 $1 Million 10 5 Years
2 $3 Million    30 7 Years
2 (LARGE DATA CENTER) $200 Million   30 7 Years
3 $0     30 5 Years
4 $11 Million 100 7 Years
5 $34 Million 0 (Maintain Jobs) 7 Years
5 (RENEWABLE ENERGY) $20 Million 0 (Maintain Jobs) 7 Years
6 (OPTION ONE) $10 Million 75 High-Paying Jobs 5 Years
6 (OPTION TWO)     $100 Million 50 High-Paying Jobs 5 Years

 

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Let's make the complex simple.

Our goal is to proactively help you to minimize state and local taxes, avoid unexpected liabilities, and take advantage of credit and incentive opportunities.