77-3137. Tax credit; application; contents.
105 words·~1 min read·
/ne/chapter-77/77-3137A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
To receive tax credits under the Nebraska Shortline Rail Modernization Act, an eligible taxpayer shall submit an application to the department on a form prescribed by the department after incurring the relevant qualified shortline railroad maintenance expenditures. The application shall be submitted no later than May 1 of the calendar year immediately following the calendar year in which the expenditures were incurred. The application shall include the following information:
(1)The number of miles of railroad track owned or leased in this state by the eligible taxpayer; and
(2)A description of the amount of qualified shortline railroad maintenance expenditures incurred by the eligible taxpayer.