Nebraska LB699 amends sales and use tax incentives under the ImagiNE Nebraska Act.
Nebraska LB699 modifies the ImagiNE Nebraska Act by changing provisions for sales and use tax incentives. The bill outlines specific conditions for taxpayers to qualify for credits based on investment levels and new employee hiring. For instance, taxpayers investing at least $5 million and hiring 30 new employees can receive a 7% credit. The bill also details exemptions for certain property and materials used in qualified locations. Additionally, it specifies the process for claiming exemptions and the administration of the ImagiNE Nebraska Cash Fund.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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