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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionNebraska
Jurisdiction type: State
Fiscal year ending In2018
Program nameNebraska Advantage Act
Program purpose: Job Creation/Retention
Statutory authority: Nebraska Revised Statutes 77-5701 through 77-5735
Abating jurisdiction(s): State of Nebraska
Applicable taxesIncome Tax; Sales and Use Tax; Property Tax
Method of abatement: Tax Credit; tax refund; Tax Exemption
Provisions for recapture: Benefits will be recaptured if the minimum levels of investment or employment are not maintained for all years during the netitlement period. Under recapture, for each year the levels are not maintained, the taxpayer cannot earn new credits or claim direct refunds of sales and use tax for investments made during the year. The State will also assess a portion of benefits already received and retain a portion of subsequent tax offsets or refunds to recover the portion of the benefits subject to recapture.
Gross revenue loss: $154,192,000
Reimbursement / offset: $0
Net revenue loss: $154,192,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://das.nebraska.gov/accounting/fin-report.html