Nebraska Statutes 77-2767. Income tax; two returns required; when; total taxes due
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Where two returns are required to be filed as provided in section 77-2765 :
Terms Used In Nebraska Statutes 77-2767
- 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
(1) Personal exemptions and deductions shall be prorated between the two returns, under regulations prescribed by the Tax Commissioner, to reflect the proportions of the taxable year during which the individual was a resident and a nonresident; and
(2) The total of the taxes due thereon shall not be less than would be due if the total of the taxable incomes reported on the two returns were includable in one return.