77-2505. Insurance company; no additional retaliatory tax.

An insurance company claiming a Nebraska affordable housing tax credit against any premium and related retaliatory taxes due under section 44-150, 77-908, or 81-523 shall not be required to pay any additional retaliatory tax as a result of claiming the tax credit. The tax credit may fully offset any retaliatory tax imposed under Nebraska law. Any tax credit claimed shall be considered a payment of tax for purposes of subsection (1) of section 77-2734.03.

Source:Laws 2016, LB884, § 15; Laws 2022, LB800, § 341.
Operative Date: July 21, 2022