Form 3800n - Nebraska Schedule I - Enterprise Zone Credit Computation

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NEBRASKA SCHEDULE I — Enterprise Zone Credit Computation

FORM

FOR TAX YEARS AFTER 1997

3800N

• Attach this schedule to Form 3800N

RESET FORM

nebraska

• Taxpayers claiming original tax credits must increase both employment

department

of revenue

and investment levels by the required amounts in the same tax year.

Name as Shown on Return

Social Security No. or Nebraska I.D. No.

Location Address

Enterprise Zone

QUALIFIED NEBRASKA EMPLOYEE CALCULATION (see instructions)

(B)

Business Began in NE:

(A)

Full-Time Equivalent

Total Hours Paid

Indicate your NE Withholding Tax No.: 21-

Nebraska Employees

1 Equivalent Nebraska employees for current year . . . . . . . . . . . . . . . . . . . .

2 Equivalent Nebraska employees for first preceding year . . . . . . . . . . . . . .

3 Equivalent Nebraska employees for second preceding year . . . . . . . . . . .

4 Equivalent Nebraska employees for third preceding year . . . . . . . . . . . . .

5 Enter highest of lines 2, 3, or 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 TOTAL increased Nebraska employment, line 1 minus line 5; if less than 2.0, enter zero (-0-) no credits are allowable .

ENTERPRISE ZONE RESIDENT EMPLOYEE CALCULATION (see instructions)

Include only employees residing in enterprise zone.

7 Equivalent Nebraska employees for current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8 Equivalent Nebraska employees for first preceding year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 Equivalent Nebraska employees for second preceding year . . . . . . . . . . . . . . . . . . . . . . . . . . .

10 Equivalent Nebraska employees for third preceding year . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11 Enter highest of lines 8, 9, or 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12 TOTAL increased enterprise zone resident employment, line 7 minus line 11 (see instructions) . . . . . . . . . . . . . . . . 12

NEBRASKA QUALIFIED INVESTMENT CALCULATION

Enter Tax Year mo. / day / yr.

TOTAL NEBRASKA QUALIFIED INVESTMENT

Attach worksheet calculating your current

(Divide Total of Columns

end-of-year total Nebraska qualified investment.

Beg. Year

Year End

(A) Beginning of Year

(B) End of Year

A and B by 2)

13 Current year . . . . . . . . . . . . . . . . . . . . .

13 $

14 First preceding year . . . . . . . . . . . . . . .

15 Second preceding year . . . . . . . . . . . . .

16 Third preceding year . . . . . . . . . . . . . . .

17 Enter the current end-of-year investment amount (line 13, Column B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 $

18 Enter the highest of lines 13(A), 14(C), 15(C), or 16(C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 $

19 Total Nebraska qualified investment (line 17 minus line 18). If less than $75,000, enter zero . . . . . . . . . . . . . . 19

20 Total calculated investment credits (line 19 divided by $75,000; round result down to lower whole number) . . 20

CREDIT CALCULATION

21 Divide line 12 by line 6. If 0.5 or greater go to line 22; if less than 0.5, go to line 26 . . . . . . . . . . . . . . . . . . . . . . 21

• Complete lines 22 through 25 only if line 21 is 0.5 or more

22 Enter amount from line 6, round down to lower whole number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

23 Tentative employment credit (line 22 multiplied by $4,500) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 $

24 Tentative investment credit (line 20 multiplied by $3,000) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 $

25 Total credit (line 23 plus line 24, not to exceed $75,000) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

• Complete lines 26 through 32 only if line 21 is less than 0.5

26 Enter amount from line 6, round down to lower whole number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

27 Enter amount from line 12, round down to lower whole number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

28 Subtract line 27 from line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

29 Enterprise zone employment credit (line 27 multiplied by $4,500) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 $

30 Employment credit (line 28 multiplied by $1,500) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

31 Investment credit (line 20 multiplied by $1,000) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

32 Total credit (line 29 plus line 30 plus line 31, total not to exceed $75,000) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 $

• All filers complete lines 33 through 40

33 Amount of Nebraska sales and use tax refunds claimed to date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

34 Amount of recapture (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

35 Total of your distributed credit amount from line 41, Form 3800N . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

36 Total Nebraska enterprise zone credit carried forward from earlier years (List years: ___________________)

37 Total available credit amounts (total of lines 25 or 32, 35 and 36; minus lines 33 and 34) . . . . . . . . . . . . . . . . . 37 $

38 Credits used to reduce income tax liability, enter on line 35, Form 3800N (see instructions) . . . . . . . . . . . . . . . 38

39 Amount of credits distributed to partners, shareholders, and beneficiaries on line 40, Form 3800N . . . . . . . . . . 39

40 Total Nebraska enterprise zone credit to be carried forward (line 37 minus lines 38 and 39) . . . . . . . . . . . . . . . 40 $

8-559-1998 Rev. 12-2003

Supersedes 8-559-1998 Rev. 12-2001