Nebraska Statutes 77-2759. Income tax; taxable year
(1) For purposes of the income tax imposed by the provisions of the Nebraska Revenue Act of 1967, a taxpayer‘s taxable year shall be the same as his taxable year for federal income tax purposes.
Terms Used In Nebraska Statutes 77-2759
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Tax Commissioner: means the Tax Commissioner of the State of Nebraska. See Nebraska Statutes 77-2701.40
- Taxable year: means the period the corporate taxpayer used on its federal income tax return. See Nebraska Statutes 77-2734.04
- Taxpayer: means any person subject to a tax imposed by sections Nebraska Statutes 77-2701.41
- Year: shall mean calendar year. See Nebraska Statutes 49-801
(2) If a taxpayer’s taxable year is changed for federal income tax purposes, his taxable year for purposes of the income tax imposed by the provisions of the Nebraska Revenue Act of 1967 shall be similarly changed in accordance with regulations prescribed by the Tax Commissioner.
(3) Notwithstanding the provisions of subsections (1) and (2) of this section, if the Tax Commissioner terminates the taxpayer’s taxable year under the provisions of section 77-27,111, relating to tax in jeopardy, the income tax shall be computed for the period determined by such action in accordance with regulations prescribed by the Tax Commissioner.