Form Cdn - Nebraska Community Development Assistance Act Credit Computation - 2012 Page 2
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1
2INSTRUCTIONS
WHAT’S NEW
Form 1099NTC does not have to be attached to Form CDN this year. The Department of Economic Development will
be providing credit information directly to the Department of Revenue.
WHO MUST FILE. Any eligible claimant must file the Nebraska Community Development Assistance Act Credit
Computation, Form CDN, to claim a credit.
WHEN AND WHERE TO FILE. This computation must be completed and attached to the income or deposits tax return filed
with the Nebraska Department of Revenue (Department) or with the premiums tax return filed with the Nebraska Department
of Insurance.
ELIGIBLE CLAIMANTS. The Community Development Assistance Act credit may be claimed by individuals or business
firms that have been granted the tax credit by the Nebraska Department of Economic Development (DED). The credit is
given for contributions to projects of community betterment organizations approved by the DED. Corporations, individuals,
fiduciaries, partnerships, S corporations, and limited liability companies (LLCs) conducting business activities may be
eligible for the credit. Sole proprietors may also be eligible. This includes insurance companies paying the premiums tax
or financial institutions paying the deposits tax.
For additional information on the Community Development Assistance Act credit, please contact the Nebraska Department
of Economic Development, Community and Rural Development Division, PO Box 94666, Lincoln, Nebraska 68509-4666;
402-471-3757; or 800-426-6505. For more information go to
Please do not contact the Nebraska Department
of Revenue.
FISCAL YEAR TAXPAYERS. Credit is to be claimed on this form for contributions made during the tax year beginning
in 2012. The contribution made to the community betterment organization’s approved program must qualify as a charitable
contribution deduction on the individual’s or business firm’s 2012 federal income tax return, or be approved by DED.
AMENDED RETURNS. A Form CDN marked “Amended” must be attached to any amended income tax return if the credit
was claimed on an original return. If the amount of the carryover was changed, amended returns must be filed for all years
affected by the change.
RECORDS. Records regarding contributions must be kept for at least three years after claiming a credit or using
a carryover.
SPECIFIC INSTRUCTIONS
PART A. All claimants must complete lines 1 through 4 of Part A. An individual, corporation, fiduciary that does not
distribute its income currently, or an LLC that is taxed as a corporation, must also complete the remainder of Part A.
LINE 1. Enter the amount of the tax credit approved by DED. If no credit was granted in 2012, but Form CDN is being
completed to claim unused credit carried forward from 2007 through 2011, enter zero (-0-) on line 1. Complete lines 2
through 13 where applicable.
LINE 2. Enter the amount, if any, from line 13 of your 2011 Form CDN, less any unused credit from 2006. Partnerships,
S corporations, fiduciaries that distribute income currently, and LLCs taxed as partnerships, must also distribute all credits
currently, and therefore must enter zero (-0-).
LINE 11. If the total of lines 6 through 10b is larger than the amount on line 5, these credit amounts must be recomputed.
Refer to the appropriate instructions for individuals claiming this credit on Form 1040N.
LINE 13. Subtract line 12 from line 4. Any unused credit may be carried forward for the next five years after the credit was
first granted.
PART B. If you are a partner, shareholder, beneficiary, or member of an LLC who was allowed any of the credit of a
partnership, S corporation, fiduciary that distributes its income currently, or LLC list: the name; address; Nebraska ID
number; federal ID number; and your share of the credits from each entity which was allowed this credit.
PART C. Each partnership, S corporation, fiduciary that distributes its income currently, and LLC taxed as a partnership
must enter: name; federal ID number or Social Security number; share of income or ownership; and share of the credit for
each partner, shareholder, beneficiary, or member. The share of the credit is determined by multiplying the amount on line 4
by the share of income ownership of each partner, shareholder, beneficiary, or member.
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