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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 In2022
Program nameNebraska Advantage Act
Program purpose: Job Creation/Retention
Statutory authority: Nebraska Revised Statutes s. 77-5701 through 77-5735
Abating jurisdiction(s): State of Nebraska
Applicable taxesSales and Use Tax; Personal Property Tax; Real Property Tax; Withholding
Method of abatement: Tax refund; Tax Credit; 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 entitlement period. Under recapture, for each year the levels are not maintained, the taxpayer cannot earn new Tax Credits or claim direct refunds of sales and use tax for investments made during the year. The State will also recapture a portion of benefits already received and retain a portion of subsequent tax offsets or refunds to recover the portion of benefits subject to recapture.
Gross revenue loss: $382,686,000
Reimbursement / offset: $0
Net revenue loss: $382,686,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://das.nebraska.gov/accounting/docs/cafr/acfr2022.pdf