Nebraska § 77-3149 - Tax credit; partnership, limited liability company, or subchapter S corporation; amount.
Full text of Nebraska Revised Statutes of Nebraska § 77-3149 — Tax credit; partnership, limited liability company, or subchapter S corporation; amount., with citation guidance and answers to common questions.
§ 77-3149. Tax credit; partnership, limited liability company, or subchapter S corporation; amount.
(1) Any partnership, limited liability company, or corporation having an election in effect under subchapter S of the Internal Revenue Code of 1986, as amended, that is carrying on any trade or business for which deductions would be allowed under section 162 of the Internal Revenue Code of 1986, as amended, or is carrying on any rental activity, and that makes one or more cash contributions to one or more eligible charitable organizations during a tax year shall be eligible for a credit against the income tax due under the Nebraska Revenue Act of 1967. Except as otherwise provided in the Nebraska Pregnancy Help Act, the amount of the credit shall be equal to the lesser of (a) the total amount of such contributions made during the tax year or (b) fifty percent of the income tax liability of such taxpayer for the tax year. A taxpayer may only claim a credit pursuant to this section for the portion of the contribution that was not claimed as a charitable contribution under the Internal Revenue Code of 1986, as amended. The credit shall be attributed to each partner, member, or shareholder in the same proportion used to report the partnership's, limited liability company's, or subchapter S corporation's income or loss for income tax purposes.
(2) The tax credit allowed under this section shall be a nonrefundable credit. Any amount of the tax credit that is unused may be carried forward and applied against the taxpayer's income tax liability for the next five years immediately following the tax year in which the credit is first allowed. The tax credit cannot be carried back.
(3) The tax credit allowed under this section is subject to section 77-3152.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 77-3149
What does Revised Statutes of Nebraska § 77-3149 cover?
Section 77-3149 ("Tax credit; partnership, limited liability company, or subchapter S corporation; amount.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 77-3149?
A common citation format is "Revised Statutes of Nebraska § 77-3149" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 77-3149 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.