Nebraska § 77-3125 - Tax credit; eligibility; amount.

§ 77-3125. Tax credit; eligibility; amount.

(1) For taxable years beginning or deemed to begin on or after January 1, 2025, a production company shall be eligible to receive tax credits under the Cast and Crew Nebraska Act for qualifying expenditures incurred by the production company in Nebraska directly attributable to a qualified production activity.

(2) The tax credit under the Cast and Crew Nebraska Act shall be a refundable tax credit allowed against the income tax imposed by the Nebraska Revenue Act of 1967 in an amount equal to twenty percent of the qualifying expenditures incurred by the production company directly attributable to a qualified production activity.

(3) The amount of the tax credit may be increased by any or all of the following amounts:

(a) An additional five percent of the qualifying expenditures incurred by the production company directly attributable to a qualified production activity if the qualified production activity films Nebraska as Nebraska in Nebraska, contains a minimum of seventy percent of the principal photography from the original submitted screenplay based in Nebraska, and uses a screen credit;

(b) An additional five percent of the qualifying expenditures incurred by the production company directly attributable to a full-length qualified production activity if the qualified production activity films entirely in areas at least thirty miles from the corporate limits of a city of the metropolitan class or city of the primary class; and

(c)(i) An additional five percent of qualified expenditures incurred by the production company directly attributable to a full-length qualified production activity that are wages paid, at a rate of at least the Nebraska minimum wage, to Nebraska residents who are employed as first-time actors or first-time below-the-line employees.

(ii) For purposes of subdivision (3)(c)(i) of this section, first-time means the individual's first-time receiving compensation and wages as either an actor or as a below-the-line employee on a full-length film in the State of Nebraska.

(iii) The wages of a maximum of ten first-time actors and below-the-line employees per full-length film can be used in calculating the tax credit in subdivision (3)(c)(i) of this section.