Nebraska PTET Mechanics CPE Examples 2023-2024

NEBRASKA PTET MECHANICS CPE Presented by the Nebraska Society of CPA s February 13, 2024 Mike Walsh, Nebraska Department of Revenue Brian Klintworth, HBE LLP

AGENDA PTET Examples Partnerships & S Corporations #1 -Partnership Fully Paid in 2023 #2 -Partnership Fully Paid in 2024 #3 -Partnership Partially Paid in 2023 #4 -Partnership Unequal Guaranteed Payments #5 -Partnership Current Year & Retroactive PTET Paid in 2023 #6 -Partnership PTET Overpaid in 2023 #7 -Partnership 90% Nebraska-Sourced Income #8 -S Corporation Fully Paid in 2023 #9 -S Corporation Fully Paid in 2024 General PTET Mechanics Balance Due Payments/Penalties & Estimates Nebraska Department of Revenue FAQ s Questions

EXAMPLE #1 AB Partnership PTET Fully Paid in 2023 - No Over/Underpayment AB Partnership -2023 Projected Income 2023 PTET Tax Rate (Highest Indivdiual Rate) NE PTET Paid before 12/31/2023 100,000 6.64% 6,640 2023 Nebraska Taxable Income Federal Deduction for NE PTET 2023 Federal Taxable Income 100,000 (6,640) 93,360 AB Schedule K-1N Reporting Individual K-1N/PTET Reporting Federal Form 1065 Ordinary income Nebraska Adjustment - Add-Back PTET Nebraska Form 1065N Taxable income Partnership Partner A Partner B 93,360 46,680 6,640 3,320 100,000 50,000 46,680 Line 1 3,320 Line 15 50,000 2023 Nebraska PTET credit 6,640 3,320 3,320 Line 23(f)

EXAMPLE #2 AB Partnership PTET Paid in 2024 with Filing of 2023 Tax Return AB Partnership - 2023 Income 2023 PTET Tax Rate (Highest Indivdiual Rate) NE PTET -Paid in March 2024 100,000 6.64% 6,640 2023 Nebraska Taxable Income Federal Deduction for NE PTET 2023 Federal Taxable Income 100,000 - Deduction in 2024, not 2023 100,000 AB Schedule K-1N Reporting Individual K-1N/PTET Reporting Federal Form 1065 Ordinary income Nebraska Adjustment - Add-Back PTET Nebraska Form 1065N Taxable income Partnership Partner A Partner B 100,000 50,000 - 100,000 50,000 50,000 Line 1 - 50,000 - Line 15 2023 Nebraska PTET credit 6,640 3,320 3,320 Line 23(f)

EXAMPLE #3 AB Partnership PTET Partially Paid in 2023 & Partially in 2024 AB Partnership - 2023 Income 2023 PTET Tax Rate (Highest Indivdiual Rate) Total NE PTET NET PTET - Paid before 12/31/2023 NE PTET - Balance Paid in March 2024 100,000 6.64% 6,640 3,000 3,640 2023 Nebraska Taxable Income 100,000 Only Deduction in 2023 is for amount paid in 2023 Federal Deduction for NE PTET 2023 Federal Taxable Income (3,000) 97,000 AB Schedule K-1N Reporting Individual K-1N/PTET Reporting Federal Form 1065 Ordinary income Nebraska Adjustment - Add-Back PTET Nebraska Form 1065N Taxable income Partnership Partner A Partner B 97,000 48,500 3,000 1,500 100,000 50,000 48,500 Line 1 1,500 Line 15 50,000 2023 Nebraska PTET credit 6,640 3,320 3,320 Line 23(f)

EXAMPLE #4 AB Partnership PTET Paid in 2023 - Partner Guaranteed Payments AB Partnership - 2023 Projected Ordinary Income AB Partnership - 2023 Projected Guaranteed Payments AB Partnership - Projected 2023 Nebraska Income 2023 PTET Tax Rate (Highest Indivdiual Rate) NE PTET Paid before 12/31/2023 100,000 25,000 125,000 6.64% 8,300 2023 Nebraska Ordinary Income 100,000 Federal Deduction for NE PTET 2023 Federal Taxable Income (8,300) 91,700 AB Schedule K-1N Reporting Individual K-1N/PTET Reporting Federal Form 1065 Ordinary Income Guranteed Payments Nebraska Adjustment - Add-Back PTET Nebraska Form 1065N Taxable income Partnership Partner A Partner B 91,700 46,680 25,000 8,300 3,320 125,000 50,000 100.00% 40.00% 45,020 Line 1 25,000 Line 4 4,980 Line 15 75,000 60.00% - 2023 Nebraska PTET credit 8,300 3,320 4,980 Line 23(f) AB Parntership Partner A Parnter B 100,000 50,000 25,000 125,000 50,000 100.00% 40.00% Allocation Detail of PTET Credit Ordinary Income (Before PTET) Guaranteed Payments Total Income (Before PTET) 50,000 25,000 75,000 60.00% - Note: In this instance, the PTET deduction is not proportional to ordinary income percentages (50% each). Therefore, the ordinary income has to be specially allocated to account for the proper allocation of the PTET deduction based on the corresponding credit.

EXAMPLE #5 AB Partnership PTET Fully Paid in 2023 - No Over/Underpayment AB Partnership - 2023 Projected Income 2023 PTET Tax Rate (Highest Indivdiual Rate) NE PTET Paid before 12/31/2023 Retroactive PTET Paid before 12/31/2023 Total PTET Paid 100,000 6.64% 6,640 19,152 25,792 2023 Nebraska Taxable Income Federal Deduction for NE PTET 2023 Federal Taxable Income 100,000 (25,792) 74,208 AB Individual K-1N/PTET Reporting Federal Form 1065 Ordinary income Nebraska Adjustment - Add-Back PTET Nebraska Form 1065N Taxable income Partnership Partner A Partner B 74,208 37,104 25,792 12,896 100,000 50,000 Schedule K-1N Reporting 37,104 Line 1 12,896 Line 15 50,000 2023 Nebraska PTET credit 25,792 12,896 12,896 Lines 23(a), 23(c), 23(d), 23(e), & 23(f) Retroactive PTET Calculation 70,000 (50,000) 70,000 80,000 60,000 280,000 AB Partnership 2018 AB Partnership 2019 AB Partnership 2020 AB Partnership 2021 AB Partnership 2022 Total Retroactive Years (Excluding Losses) 4,788 - Not Electing - Loss in 2019 4,788 5,472 4,104 6.84% 19,152 AB PTET Credit Allocation by Year Partnership Partner A Partner B 4,788 2,394 - 4,788 2,394 5,472 2,736 4,104 2,052 6,640 3,320 25,792 12,896 2018 2019 2020 2021 2022 2023 2,394 - - 2,394 2,736 2,052 3,320 12,896 Total

EXAMPLE #6 AB Partnership PTET Overpaid in 2023 AB Partnership - 2023 Projected Income 2023 PTET Tax Rate (Highest Indivdiual Rate) NE PTET Paid before 12/31/2023 150,000 6.64% 9,960 Estimated Income was higher than actual 2023 Actual NE Taxable Income Federal Deduction for NE PTET 2023 Federal Taxable Income 100,000 (9,960) 90,040 AB Schedule K-1N Reporting Individual K-1N/PTET Reporting Federal Form 1065 Ordinary income Nebraska Adjustment - Add-Back PTET Nebraska Form 1065N Taxable income Partnership Partner A Partner B 90,040 45,020 9,960 4,980 100,000 50,000 45,020 Line 1 4,980 Line 15 50,000 2023 Nebraska PTET credit 6,640 3,320 3,320 Line 23(f)

EXAMPLE #7 AB Partnership PTET Fully Paid in 2023 - 90% Income in Nebraska AB Partnership - 2023 Projected Income AB Partnership -2023 Projected NE Source Income (90%) 2023 PTET Tax Rate (Highest Indivdiual Rate) NE PTET Paid before 12/31/2023 111,111 100,000 6.64% 6,640 2023 Nebraska Taxable Income Federal Deduction for NE PTET 2023 Federal Taxable Income 111,111 (6,640) 104,471 AB Schedule K-1N Reporting Individual K-1N/PTET Reporting Nebraska-Source Ordinary Income Nebraska Adjustment - Add-Back PTET Non-Nebraska LLC Income Nebraska Form 1065N Taxable income Partnership Partner A Partner B 94,024 47,012 5,976 2,988 11,111 5,556 100,000 50,000 47,012 Line 1 2,988 Line 15 5,555 50,000 2023 Nebraska PTET credit 6,640 2,988 2,988 Line 23(f)

EXAMPLE #8 NE Corp PTET Fully Paid in 2023 - No Over/Underpayment NE Corp - 2023 Projected Income 2023 PTET Tax Rate (Highest Indivdiual Rate) NE PTET Paid before 12/31/2023 100,000 6.64% 6,640 2023 Nebraska Taxable Income Federal Deduction for NE PTET 2023 Federal Taxable Income 100,000 (6,640) 93,360 Schedule K-1N Reporting Individual K-1N/PTET Reporting Federal Form 1065 Ordinary income Nebraska Adjustment -Add-Back PTET Nebraska Form 1120S-N Taxable income NE Corp 93,360 6,640 100,000 Partner A Partner B 46,680 3,320 50,000 46,680 Line 1 3,320 Line 14 50,000 2023 Nebraska PTET credit 6,640 3,320 3,320 Line 22(f)

EXAMPLE #9 NE Corp PTET Paid in 2024 with Filing of 2023 Tax Return NE Corp - 2023 Projected Income 2023 PTET Tax Rate (Highest Indivdiual Rate) NE PTET - Paid in March 2024 100,000 6.64% 6,640 2023 Nebraska Taxable Income Federal Deduction for NE PTET 2023 Federal Taxable Income 100,000 - Deduction in 2024, not 2023 100,000 Schedule K-1N Reporting Individual K-1N/PTET Reporting Federal Form 1065 Ordinary income Nebraska Adjustment - Add-Back PTET Nebraska Form 1120S-N Taxable income NE Corp 100,000 Partner A Partner B 50,000 - 50,000 50,000 Line 1 - 50,000 - Line 14 100,000 2023 Nebraska PTET credit 6,640 3,320 3,320 Line 22(f)

GENERAL PTET MECHANICS Regardless of when paid, a PTET credit taken on a 2023 return will distribute the credit to its partners or shareholders on 2023 K-1N s, regardless of if the federal deduction was allowed for that same year. The entity needs to have paid the tax to the NDOR before the NDOR can issue the credit to the partners or shareholders. Estimates are required for the 2024 year, but were not required for 2023. Since Estimates follow C Corporation rules, the due dates are 4/15, 6/15, 9/15, & 12/15. When partnerships have special allocations or items like guaranteed payments that are not proportional to ownership, special attention needs to be paid to ensure that allocations on your tax return are ending up where they should. Make sure that the add-back is working properly, as an PTET taxes deducted on the Federal return are not deductible for Nebraska purposes.

GENERAL PTET MECHANICS (CONTD) For Federal Reporting purposes, IRS Notice 2020-75 speaks to the PTET payment being an ordinary deduction, flowing to page 1 of the 1065/1120S. If you have an entity that s only activity is made up of rentals, for example, it may make more sense to treat the PTET as a deduction on Form 8825 than page 1. Given the lack of guidance from the IRS, it is up to your firm to make a decision, but putting the tax on the applicable schedule, like Form 8825, might make sense if that s the only activity of the business. If, however, there are multiple different lines of business on the return, it might make the most sense to treat it all as a page 1 deduction. Remember than many businesses might have a requirement to make the tax payments to Nebraska electronically or they will get charged a penalty. Even when not require, the Nebraska E-Pay system is a great & easy option to use. If an entity is making the current year election with the filing of the return, checking Box 5 on the return is all that is needed to make the election. Regardless of when the retroactive election is being made, the retroactive election form always needs to be uploaded to Nebraska s PTET portal; just filing it will the tax return is not sufficient.

BALANCE DUE PAYMENTS/PENALTIES & ESTIMATES Balance due payments for 2023 tax returns are due March 15th, the non-extended due date of the returns. Payments that are received after that date will have interest and penalties on the late payment. Beginning for the 2024 tax year, entities will be required to make estimated tax payments or have underpayment penalties. The computation of estimates and penalties are based on Nebraska s corporation rules. A safe harbor based on the prior year s tax is not available to entities that are Large Corporations , which are defined as entities that had at least $1 million in taxable income in any of the three preceding tax years. They can only use the safe harbor calculation for the first estimate. Nebraska is still determining how to approach the prior year s tax for PTET entities, particularly ones that made a retroactive election/payment, as the total tax shown on the return with a retroactive election will likely be much higher than a normal year.

NDOR FAQS How do eligible pass-through entities make an election for tax years 2018 through 2022? The entity is not required to make an election for every tax year (2018 through 2022) in the same year or at all, the election is voluntary. For example, a Form PTET-E may be submitted in 2023 for the 2018 through 2020 tax years and another Form PTET-E may be filed in 2024 for the 2021 and 2022 tax years. Elections for any one of the tax years 2018 through 2022 must be filed on or before December 30, 2025. Submit the Pass-Through Entity Tax (PTET) Election for Tax Years 2018 through 2022, Form PTET-E via the Nebraska Department of Revenue s (DOR s) secure file sharing system.

NDOR FAQS(CONT.) Can an entity who did not file a 2018 return because all its income was from Nebraska and all the partners or shareholders were Nebraska resident individuals make the election for tax year 2018? Yes. A 2018 Nebraska return must be on file for the pass-through entity to make the election. If a 2018 return was not previously filed, the pass-through entity may still file one, then make the election. The entity makes the PTET election by filing a Pass-Through Entity Tax (PTET) Election for Tax Years 2018 through 2022, Form PTET-E. The Form PTET-E must be filed using the State of Nebraska s file share system. The 2018 Form 1065N or Form 1120-SN may be filed at the same time as the Form PTET-E but must be mailed to the Nebraska Department of Revenue (DOR). No penalties will be applied to the 2018 return and no explanation is required with the 2018 return.

NDOR FAQS(CONT.) Should the Form PTET-E be submitted before payments are made for tax years 2018 through 2022? Yes. The Form PTET-E making an election for tax years 2018 through 2022 must be completed before payment is made. The Form PTET-E should be submitted before or at the same time payment is made. The PTET may be remitted electronically using Nebraska e-pay, ACH credit, or Nebraska Tele-pay. S corporations may also pay by credit card. Payments made electronically must use the tax period end date for the tax year that includes the date the election is made. Partnerships using Nebraska e-pay or Nebraska Tele-pay must use the FTA Tax Type Code 02900 when scheduling its payment. S corporation must use FTA Tax Type Code 02000 or 02100 when scheduling its payment. Example 1. The electing eligible entity files a calendar-year return and makes the election on October 1, 2023, the tax period end date is December 31, 2023. Example 2. The electing eligible entity files a fiscal-year return ending September 30 and makes the election on September 15, 2023. The tax period end date is September 30, 2023. Any eligible entity with a Nebraska e-pay mandate, must remit the PTET due electronically.

NDOR FAQS(CONT.) Should the Form PTET-E be submitted before payments are made for tax years 2018 through 2022? Yes. The Form PTET-E making an election for tax years 2018 through 2022 must be completed before payment is made. The Form PTET-E should be submitted before or at the same time payment is made. The PTET may be remitted electronically using Nebraska e-pay, ACH credit, or Nebraska Tele-pay. S corporations may also pay by credit card. Payments made electronically must use the tax period end date for the tax year that includes the date the election is made. Partnerships using Nebraska e-pay or Nebraska Tele-pay must use the FTA Tax Type Code 02900 when scheduling its payment. S corporation must use FTA Tax Type Code 02000 or 02100 when scheduling its payment. Example 1. The electing eligible entity files a calendar-year return and makes the election on October 1, 2023, the tax period end date is December 31, 2023. Example 2. The electing eligible entity files a fiscal-year return ending September 30 and makes the election on September 15, 2023. The tax period end date is September 30, 2023. Any eligible entity with a Nebraska e-pay mandate, must remit the PTET due electronically.

NDOR FAQS(CONT.) How do eligible pass-through entities make an election for tax years after 2022? The Pass-Through Entity Tax (PTET) Election for Tax Years After 2022, Form PTET-E must be submitted via the Nebraska Department of Revenue s (DOR s) secure file sharing system. The PTET election may also be made when filing the pass-through entity s return and checking Box 5. The election must be filed on or before the due date of the partnership s or S corporation s Nebraska return, including any approved extension.

NDOR FAQS(CONT.) UPDATED: 01/31/2024: For tax years after 2022, can the entity make PTET payments before the year end and upload the signed Form PTET-E election closer to the due date of the return? Yes. The PTET election for tax years after 2022 must be received by the Nebraska Department of Revenue on or before the due date of the return, including any granted extension. The Pass-Through Entity Tax (PTET) Election for Tax Years After 2022, Form PTET-E must be submitted via the Nebraska Department of Revenue s (DOR s) secure file sharing system. The PTET election may also be made when filing the pass-through entity s return and checking Box 5. The date the PTET election is filed may make a difference for the timing of the income tax deduction on the federal return.

NDOR FAQS(CONT.) UPDATED: 01/31/2024: For tax years after 2022, can the entity make PTET payments before the year end and upload the signed Form PTET-E election closer to the due date of the return? Yes. The PTET election for tax years after 2022 must be received by the Nebraska Department of Revenue on or before the due date of the return, including any granted extension. The Pass-Through Entity Tax (PTET) Election for Tax Years After 2022, Form PTET-E must be submitted via the Nebraska Department of Revenue s (DOR s) secure file sharing system. The PTET election may also be made when filing the pass-through entity s return and checking Box 5. The date the PTET election is filed may make a difference for the timing of the income tax deduction on the federal return.

NDOR FAQS(CONT.) When a partnership or S corporation has a non-tax paying entity (e.g., IRA, LLC, or S corporation) as an owner and an individual as an owner, how should the PTET be calculated? The electing partnership or S corporation computes its PTET liability on its entire Nebraska source income.

NDOR FAQS(CONT.) Are guaranteed payments included in the amount subject to the PTET? Yes, guaranteed payments are included in the amount subject to the PTET.

NDOR FAQS(CONT.) If the pass-through entity has a loss in any tax year between 2018 through 2022, can the entity skip that year on the election form. Yes. The pass-through entity is not required to make the election, it is voluntary. If the pass-through entity makes the election for the loss year, enter the Nebraska loss amount in the Nebraska income field and enter zero in the PTET field for the taxable year. While the election is available, making the election for a loss year may not benefit the partners or shareholders as they may not receive a federal deduction for state taxes or a credit for PTET paid by the partnership or S corporation.

NDOR FAQS(CONT.) Is there any adjustment in other tax years when a pass-through entity electing to pay the PTET has a loss year? No, the PTET for other tax years cannot be reduced by any amount from a loss year.

NDOR FAQS(CONT.) Does the pass-through entity need to be active and operating in tax years 2023, 2024, and 2025 to file the election for tax years 2018 through 2022? Partnerships and S corporations that no longer exist could make the election. However, there would be no PTET credit for the prior partners or shareholders. The PTET credit is based on the partner s distributive share or a shareholder s pro rata share of the PTET paid. Since the entity no longer exists at the time the payment is made, there is no pro rata or distributive share of the tax paid.

NDOR FAQS(CONT.) UPDATED: 01/31/2024: For the elections and PTET paid for prior tax years, is the PTET credit allocated to the current owners or based on the ownership of the entity in the tax year for which the election applies? The PTET credit is available to the individuals or entities that were partners or shareholders for the same tax year the pass-through entity reported the PTET on its Nebraska income tax return.

NDOR FAQS(CONT.) Is an entity that filed as a partnership until 2020 disqualified from making the PTET election for tax years 2018 to 2022, if it made a federal S corporation election with the IRS in 2020? An entity that changes from an eligible partnership to an eligible S corporation may make the election in all tax years. Provided the pass-through entity has the same federal identification number, it may make the election for tax years 2018 through 2022 on the same Form PTET-E.

NDOR FAQS(CONT.) Is an entity that changes from an S corporation to a C corporation disqualified from making the PTET election? An entity that changes from an S corporation to a C corporation may make the election. However, the shareholders of the C corporation cannot claim the PTET credit because the PTET is paid when the entity is a C corporation, rather than an S corporation.

NDOR FAQS(CONT.) UPDATED: 01/31/2024: When do the owners of the electing pass-through entity claim the PTET credit? For tax years 2018 through 2022, the PTET credit may be claimed on a return filed for the same tax year the entity reported and paid the related PTET. The PTET must be paid on or before the date the entity files its Nebraska return reporting the PTET. Example 1: Partnership XYZ makes the PTET election for tax years 2018 through 2022. The related PTET was reported and paid with XYZ s 2023 Nebraska return. XYZ s partners may claim their share of the 2018 through 2022 PTET credits on their 2023 Nebraska return. Example 2. Partnership XYZ makes the PTET election for tax years 2018 through 2022. XYZ reported the 2018 through 2022 PTET on their 2023 return and paid the related PTET before filing its 2023 Nebraska return. XYZ s partners may claim their share of the 2018 through 2022 PTET credits on their 2023 Nebraska return. For tax years after 2022, the PTET credit may be claimed on a return filed for the same tax year the entity reported the related PTET. The entity must pay the PTET, before the related credit will be allowed to its partners or shareholders. Example 3: Partnership ABC made a PTET election for the 2023 tax year. The related PTET was reported and paid with ABC s 2023 Nebraska return. ABC s partners may claim their share of the 2023 PTET credit on their 2023 Nebraska return. The above examples assume the partnerships and their partners have the same tax year.

NDOR FAQS(CONT.) Will a resident grantor trust that receives a PTET credit be disregarded and the credit for taxes paid by the entity pass through to the grantor? Yes, the PTET credit will flow through directly to a resident grantor.

NDOR FAQS(CONT.) Will a partnership electing to pay the PTET be able to specially allocate the PTET to the partners? Yes, Nebraska would accept the proposed allocation, provided it is allowable under the federal income tax laws. The PTET credit for partners is equal to the partner s pro rata or distributive share of the PTET paid by the partnership. The pro rata or distributive share is determined under the Internal Revenue Code and related Treasury Regulations.

NDOR FAQS(CONT.) Can a tax-exempt partner or shareholder, that does not file federal or Nebraska returns, claim the PTET credit? Yes. For example: A private foundation that is organized as a nonprofit corporation, should file a Nebraska Corporation Income Tax Return, Form 1120N, to claim its share of the PTET credit. Please attach a copy of the first page of the Federal Form 990-PF and include a statement indicating why the Form 1120N is being filed. An ESOP may claim its share of the PTET paid by filing a Nebraska Fiduciary Income Tax Return, Form 1041N, claiming the credit. Please include a statement with Form 1041N indicating why it is being filed.

NDOR FAQS(CONT.) Will an individual s return claiming the PTET credit delay their refund? No. The Nebraska Department of Revenue is not anticipating a delay in processing Forms 1040N claiming a PTET credit, provided the Nebraska Schedules K-1N supporting the credit are attached to the return and the entity that paid the PTET properly filed the Nebraska Schedule PTET.

NDOR FAQS(CONT.) UPDATED: 01/31/2024: For tax years before 2023, are individual nonresident partners or shareholders with Nebraska withholding required to file amended or original Nebraska nonresident returns to receive refunds from the withholding and PTET credits? No. For tax years before 2023, the individual partners or shareholders will generally claim the withholding and PTET credits on returns filed in different tax years. The withholding credit is claimed on the return filed for the tax year for which the withholding was reported by the entity. The PTET credit is claimed on the return filed for the tax year in which the entity reported the PTET on its Nebraska return.

NDOR FAQS(CONT.) How will the Nebraska Department of Revenue issue Forms 1099-G for taxpayers claiming the PTET credit? The Nebraska Department of Revenue (DOR) issues Form 1099-G if a taxpayer itemized deductions on their Nebraska income tax return, and the return calculated an overpayment. For PTET credits claimed that relate to tax years 2018 through 2022, the Nebraska Department of Revenue will issue separate Forms 1099-G related to each tax year (2018 through 2022). The taxation of state income tax refunds is controlled by the IRC and related Treasury Regulations. Please review IRS Notice 2023-56 and the various laws it references or contact the IRS regarding the taxation of income tax refunds resulting from the pass- through entity tax credit.

HELPFUL LINKS NEBRASKA PTET Nebraska Department of Revenue PTET Page https://revenue.nebraska.gov/businesses/nebraska-pass-through-entity-tax-ptet Nebraska Department of Revenue PTET FAQ s https://revenue.nebraska.gov/about/frequently-asked-questions/pass-through-entity-tax-faqs LB754 Tax Bill from 2023 that includes PTET Legislation https://nebraskalegislature.gov/FloorDocs/108/PDF/Slip/LB754.pdf Partnership Nebraska Tax Forms (Including PTET & Estimates) https://revenue.nebraska.gov/about/forms/partnership-tax-forms S Corporation Nebraska Tax Forms (Including PTET & Estimates) https://revenue.nebraska.gov/about/forms/corporation-and-s-corporation-income-tax-forms NESCPAPTET Information/Updates https://www.nescpa.org/news/updates/hot-topics Koley Jessen Analysis Considerations on Taxability of PTET Refunds https://www.nescpa.org/storage/files/4d48911c957a22de2322b47938666c09.pdf

CONTACT INFORMATION Mike Walsh Nebraska Department of Revenue mike.walsh@nebraska.gov Brian Klintworth HBE LLP bklintworth@hbecpa.com

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