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Invest Nebraska Act
Outline of Requirements for Application

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This guidance document is advisory in nature but is binding on the Nebraska Department of Revenue (Department) until amended. A guidance document does not include internal procedural documents that only affect the internal operations of the Department and does not impose additional requirements or penalties on regulated parties or include confidential information or rules and regulations made in accordance with the Administrative Procedure Act. If you believe that this guidance document imposes additional requirements or penalties on regulated parties, you may request a review of the document.

This guidance document may change with updated information or added examples. The Department recommends you do not print this document. Instead, sign up for the subscription service at revenue.nebraska.gov to get updates on your topics of interest.

As required by the Invest Nebraska Act (LB 620), a written application must be submitted. No applications will be accepted on or after June 1, 2005. This application must contain the following:

  1. The exact name of the applicant, it's sales and use tax identification number, and any related companies which will be included in the project.
     
  2. A statement describing the nature of the applicant's business in detail, including the products sold and respective markets.
     
  3. A statement referencing the specific portion of the Act under which applicant feels it is a "qualified business."
     
  4. A detailed narrative, with time references showing the expected investment and employment, and the expected start date, explaining how applicant intends to satisfy the required levels. The narrative must include an explanation of how applicant intends to finance the project.

If applicant intends to include more than one project in its plans, a separate narrative must be submitted for each project.

If the project involves more than one Nebraska location, a separate narrative must be submitted for each location, accompanied by documentation, describing how the several locations are interdependent parts of the project.

  1. A copy of the written policy of the company that prohibits the company from requiring any genetic test or genetic information for employment or promotion at the project.
     
  2. A request that the company be considered for approval under the Act.
     
  3. The specific levels applied for and if the alternative investment credit is requested.
     
  4. Copies of supporting documentation such as, but not necessarily limited to, a copy of the project's feasibility study, indication of the project's approval such as an entry in the board of director minutes, or copies of letters of commitment for purposes of securing financing.
     
  5. A copy of applicant's most recent audited financial report.
     
  6. A copy of applicant's most recent federal income tax return, including schedules.
     
  7. A copy of applicant's most recent Nebraska income tax return, including schedules.
     
  8. A copy of applicant's most recent Nebraska Reconciliation of Income Tax Withheld, Form W-3N.
     
  9. The following information to be used by the Department of Revenue for internal statistical purposes:

    a. Expected average salaries by category of new employees in the project.

    b. Expected number of base-year employees in the project.

    c. Expected investment by categories, e.g., building improvements, computers.

  10. A $5000 non-refundable application fee payable to the Nebraska Department of Revenue.

When the Department is reasonably satisfied that your application is complete and that the plans might qualify as a project under the guidelines established in the Invest Nebraska Act, we will schedule a meeting of the Invest Nebraska Board to consider your application. A decision on the application is to be made within 60 days of when the application is complete. The 60 days may be extended upon agreement of the company and the Department.

Should you have any questions regarding the preparation of this application, please contact Mary Hugo at 402-471-5790. The application should be sent to the following address:

Mary Hugo
Nebraska Department of Revenue
301 Centennial Mall South
PO Box 98944
Lincoln, NE 68509-8944


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