42-5017. Credit for accounting and reporting
expenses; definition
A. A credit is allowed against the taxes imposed by this article and article 5 of
this chapter for expenses incurred by the taxpayer in accounting and reporting those
taxes. The credit is equal to one per cent of the amount of tax due but not to exceed a
total of ten thousand dollars in any calendar year for the combined total of all business
premises of a taxpayer. Estimated taxes under section 42-5014, subsection D are not
considered a separate reporting period.
B. A taxpayer shall claim the credit for each tax period on forms prescribed and
furnished by the department, which may be incorporated in the return form prescribed
pursuant to section 42-5014. A claim for credit is not allowed if the taxpayer fails to
pay the tax due, plus any estimated tax liability, before the payment becomes delinquent.
C. As used in this section, "taxpayer" means the business entity under which the
business reports for state income tax purposes or an entity that is exempt from state
income tax.
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