Nebraska Tax
FULL List to Nebraska Tax Forms
Individual Income Tax Forms
Form 1040N Nebraska Individual Income Tax Return
Form 1040XN Amended Nebraska Individual Income Tax Return
Corporate Income Tax Forms
Form 1120N Nebraska Corporation Income Tax Return
Form 1120-SN Nebraska S Corporation Income Tax Return
Sales Tax Forms
Form 2 Business Local Use Tax Return
Form 3 Individual Local Use Tax Return
Form 4 Nebraska Exemption Application for Sales and Use Tax
Form 10 Local Sales and Use Tax Return
Property Tax Forms
Form Personal Property Return
Form 451 Exemption Application ( Real and Personal Property)
Form 5725X Claim for Personal Property Exemption
One of the first qualifications that individuals must concern themselves with, when entering the realm of Nebraska income tax, is that of the distinction the state places between a resident, nonresident, and a "partial-year" resident. In general, a resident is an individual who resides within the state and has maintained their permanent place of residence for over 6 months. A nonresident is, then, individuals who do not fall under that specification, and a partial-year resident is someone who is neither a resident nor a nonresident for a whole calendar year.
In terms of residents, their gross income will be taxed according to Nebraska law on income tax. This is required despite any earnings garnered from regions outside of the state. In such a case, a credit may be garnered for taxes paid to that state in question. A Nebraska tax form must be attached by the additional state's return in order to attain such credit.
Nonresidents who have also attained income from the state must file specific Nebraska tax forms, one of which is the 1040N. Examples of taxable monetary considerations include all wages and compensation from the state, sale of personal property within the state, and income attained from "fiduciary services" for a "resident state of trust" also on Nebraska land. Partial-year residents follow in the steps of nonresidents as they must file similar Nebraska tax forms, such as that again of the 1040N.
In addition, however, they may also apply for various tax credits. These include credits for elderly/disabled, child/dependent care expenses, charitable endowment tax, and prior year minimum tax.
When Nebraska income tax is being tallied for both nonresidents and partial-year residents, "source income" alone, along with tax accompanying it, is not sufficient. These individuals must figure out the "tentative" tax for all income as well as, then, ascertain the "tax liability," as is referenced by the portion of Nebraska source income to that of all income in existence. Exemptions do exist for nonresident partners and shareholders whose only purpose within the state is to run business-related activities such as that of a "partnership limited liability company.
In relation to sales tax within the state, retailers are held legally responsible for the collection of sales tax in connection to sales made by them, and on behalf of the state of Nebraska. In addition to this, they may also be required to set forth a "local option" sales tax. This is "optional" depending upon the municipality, as cities and county may possess varying specifications. Similar to qualifications based on average residents, there also exist distinctions between instate and out-of-state retailers.
Instate retailers meet the following criteria: they must obtain a Nebraska Sales Tax Permit for each area they wish to set up shop in, maintain that place of business in the state, possess a representative for the tasks of sale, have acquired "rental receipts" from leased property, and advertise sales to residents through the media. Out-of-state retailers who meet these qualifications are subject to the similar filing process and, therefore, must file the same Nebraska tax forms as those in state, as well as acquire a Nebraska sales tax permit.
NEXT: Nevada State Tax
