Nebraska Statutes 77-3126. Tax credit; limitations
Current as of: 2024 | Check for updates
|
Other versions
(1) The total amount of tax credits allowed in any fiscal year under the Cast and Crew Nebraska Act shall not exceed five hundred thousand dollars in fiscal year 2025-26 and one million dollars in any fiscal year thereafter.
Terms Used In Nebraska Statutes 77-3126
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: shall mean calendar year. See Nebraska Statutes 49-801
(2) The maximum allowable tax credit claimed under the act in any single taxable year for any qualified production activity that is a full-length film, made-for-television movie, television series of at least five episodes, or streaming television series shall not exceed five hundred thousand dollars in fiscal year 2025-26 and one million dollars in any fiscal year thereafter.