Nebraska § 77-5408 Credits; how used

Nebraska Statutes

§ 77-5408 — Credits; how used

Nebraska § 77-5408

Ch. 77Revenue and Taxation

This text of Nebraska § 77-5408 (Credits; how used) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 77-5408 (2026).

Text

(1)The credits prescribed in section 77-5407 shall be established by filing the forms required by the Tax Commissioner with the income tax return for the year. The credits may be used after any other nonrefundable credits to reduce the taxpayer's income tax liability imposed by the Nebraska Revenue Act of 1967.

(2)The credits may be used as allowed in subsection (1) of this section and shall be applied in the order in which they were first allowed. Any decision on how part of the credit is applied shall not limit how the remaining credit could be applied under this section.

(3)The credits may be carried over until fully used, except that credits may not be carried over more than three years after the end of the entitlement period.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) The credits prescribed in section 77-5407 shall be established by filing the forms required by the Tax Commissioner with the income tax return for the year. The credits may be used after any other nonrefundable credits to reduce the taxpayer's income tax liability imposed by the Nebraska Revenue Act of 1967.
(2) The credits may be used as allowed in subsection (1) of this section and shall be applied in the order in which they were first allowed. Any decision on how part of the credit is applied shall not limit how the remaining credit could be applied under this section.
(3) The credits may be carried over until fully used, except that credits may not be carried over more than three years after the end of the entitlement period.