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Nebraska provides a research and development credit that very closely matches the federal tax credits under IRC § 41. The Nebraska Advantage Research and Development Credit is a refundable credit equal to either 15% or 35% of the federal credit allowed under IRC § 41 for qualifying taxpayers. Most companies with QREs can claim an R&D tax credit equal to 15% of the federal credit allowed under IRC § 41, and also 35% of the federal R&D credits attributed to basic research payments made to a college or university in Nebraska.
If the business firm makes R&D expenditures in Nebraska and in other states, the tax credit will be apportioned to determine the amount based on activities conducted in Nebraska. The credit is claimed using Nebraska Form 3800N and Worksheet RD.
Learn more about Nebraska's R&D Tax Credit law here.
R&D Tax Credit Available:
C-Corporations, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with Nebraska Tax Return
Data Required to Compute Credit:
Federal Form 6765
What Information is needed?
Federal R&D Credit Amount
All businesses claiming the Nebraska R&D tax credit must electronically verify the work eligibility status of all newly-hired employees in Nebraska during the tax year in which the credit is claimed.