Incentive Withholding Worksheet
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Incentive Withholding Worksheet
Name of Applicant
Withholding Period
Section A: Nebraska Advantage Act
Application Date
Project Name
Project Number
Calculation of Withholding Ratio (Prior Tax Year _____/_____/_____)
1 Project average compensation (Form 312N, Schedule A, line 11) . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2 Full-time equivalent employee growth at the project (Form 312N, Schedule A, line 12) . . . . . . . . . .
2
3 Computed annual compensation of new employees (line 1 multiplied by line 2) . . . . . . . . . . . . . . .
3
4 Total taxable wages and payments subject to Nebraska withholding . . . . . . . . . . . . . . . . . . . . . . . .
4
5 Withholding ratio (line 3 divided by line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
Calculation of Retained Withholding
6 Withholding for this period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7 Withholding credit limitation
a Compensation credit not previously used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7a
b Amount attributable to number of new employees at project (line 5 x line 6) . . . . . . . . . . . . . . . .
7b
8 Nebraska Advantage compensation credit used (may not exceed lesser of 7a and 7b) . . . . . . . . .
8
Section B: Invest Nebraska Act
Application date
Project Name
Project Number
Calculation of Withholding Ratio (Prior Tax Year _____/_____/_____)
9 Compensation paid to project employees
a Base year employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9a
b Non-base year employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9b
10 Compensation paid to non-project employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
11 Total taxable wages and payments subject to Nebraska withholding . . . . . . . . . . . . . . . . . . . . . . . .
11
12 Withholding ratio (Line 9b divided by line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
Calculation of Retained Withholding
13 Withholding for this period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
14 Withholding credit limitation
a Wage benefit credit not previously used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14a
b Amount attributable to non-base year employees at project (Line 12 x line 13) . . . . . . . . . . . . . . 14b
c Overall 5% limitation (Line 9b x 5%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14c
15 Invest Nebraska wage benefit credit (may not exceed lesser of 14a, 14b, and 14c) . . . . . . . . . . . .
15
Section C: Total Withholding Offset
Total incentive credits to offset withholding (Section A, line 8 plus Section B, line 15) . . . . . . . . . . . . .
8-642-2008 Rev . 6-2013
Supersedes 8-642-2008 Rev . 2-2013
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