Tax Incentives Annual Report

FOR IMMEDIATE RELEASE:
July 15, 2010

FOR INFORMATION CONTACT:
Douglas A. Ewald, Tax Commissioner
(402) 471-5604
Mary Hugo, Economic Incentive Manager
(402) 471-5790
mary.hugo@nebraska.gov

NEBRASKA TAX INCENTIVES ANNUAL REPORT TO THE LEGISLATURE

LINCOLN —The Nebraska Department of Revenue (Department) has provided the Nebraska Tax Incentives 2009 Annual Report on the following programs:

Nebraska Advantage Act;
Nebraska Advantage Rural Development Act;
Nebraska Advantage Microenterprise Tax Credit Act;
Nebraska Advantage Research and Development Act;
Employment and Investment Growth Act;
Employment Expansion and Investment Incentive Act;
Invest Nebraska Act; and
Quality Jobs Act.

The Nebraska Advantage Act requires disclosure of project-specific information on total tax incentives used by a company every two years. The 2009 Annual Report is the first instance where a company's project-specific information is included.

The Nebraska Advantage Rural Development Act requires disclosure of project-specific information on total incentives used every two years for Level 1 and Level 2 projects, and total incentives used each year for Livestock Modernization projects. The 2009 Annual Report includes the first project-specific information for the Level 1 and Level 2 projects, and the second year of reported information for the Livestock Modernization projects.

To promote efficiency and technology, the Department is not printing the 2009 Annual Report. The 2009 Annual Report is available at http://www.revenue.state.ne.us/incentiv/annrep/annl_rep.html.

APPROVED:
Douglas A. Ewald
Tax Commissioner