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Research and Development Advantage

Category: State Incentives


Research and Development Advantage


Any business in Nebraska that makes expenditures on research and development as defined in Section 174 of the Internal Revenue Code of 1986 is allowed a research tax credit under terms of the Nebraska Advantage Research and Development Act. The credit amount is 15 percent of the federal credit allowed under Section 41 of the Internal Revenue Code or as apportioned to the state as described below. The credit shall be allowed for the first tax year it is claimed and for the four tax years immediately following.

 

An important feature to highlight is that a business with little or no income may take advantage of the income tax credit by receiving a sales tax refund or a refundable income tax credit.