State Credit Name: Research Tax Credit
Expiration Date: Indefinite
Who Can Apply? Corporations and flow-through entities
Credit Carry Forward: The credit can be carried forward up to 20 years if the taxpayer continues to earn the federal credit.
About the Credit: The credit is 15% of the federal tax credit allowed. The credit may be used to receive a refund of the sales and use tax paid, or as a refundable income tax credit.
Notes: Taxpayers that conduct R&D through a university in Nebraska are allowed a credit equal to 35% of the federal credit, instead of the normal 15%. The tax credit can be carried forward for the next four years if the business continues to earn the federal credit and continues to work through a Nebraska university.
Click here to find out if you qualify for the federal research credit.
Nebraska Research and Development Tax Credit – SwansonReed
Learn more about the Nebraska Research and Development Tax Credit and how it can help benefit your business.
Contact your local Swanson Reed office to speak with a representative in your area today.
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