Nebraska LB954 amends the Nebraska Advantage Act to recalculate base-year employees for taxpayers selling business operations.
Nebraska LB954 amends the Nebraska Advantage Act to allow for the recalculation of base-year employees when a taxpayer sells a portion of their business operations. This recalculation applies if the sold operations cease within 24 months or if the sale's primary purpose was to close a location. Credits or incentives generated before the sale are not recalculated. This amendment applies to agreements entered into after December 31, 2016.
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