77-27,230 Individuals; income tax credit; amount; treatment. - Nebraska Statutes

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Statutes > Nebraska > Chapter77 > 77-27_230

77-27,230. Individuals; income tax credit; amount; treatment.(1) A resident individual shall be allowed a credit against the income tax due under the Nebraska Revenue Act of 1967 in an amount equal to fifteen percent of the present value of the aggregate amount of the charitable gift portion of a planned gift made by the individual during the tax year to any qualified endowment. The maximum credit per individual per tax year is five thousand dollars. The credit allowed under this section shall not exceed the taxpayer's income tax liability.(2) The credit cannot be carried back or forward, and the credit shall be applied to the tax year in which the planned gift is made. SourceLaws 2005, LB 28, § 4; Laws 2006, LB 1010, § 1.Termination Date: January 1, 2010

State Codes and Statutes

Statutes > Nebraska > Chapter77 > 77-27_230

77-27,230. Individuals; income tax credit; amount; treatment.(1) A resident individual shall be allowed a credit against the income tax due under the Nebraska Revenue Act of 1967 in an amount equal to fifteen percent of the present value of the aggregate amount of the charitable gift portion of a planned gift made by the individual during the tax year to any qualified endowment. The maximum credit per individual per tax year is five thousand dollars. The credit allowed under this section shall not exceed the taxpayer's income tax liability.(2) The credit cannot be carried back or forward, and the credit shall be applied to the tax year in which the planned gift is made. SourceLaws 2005, LB 28, § 4; Laws 2006, LB 1010, § 1.Termination Date: January 1, 2010

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State Codes and Statutes

Statutes > Nebraska > Chapter77 > 77-27_230

77-27,230. Individuals; income tax credit; amount; treatment.(1) A resident individual shall be allowed a credit against the income tax due under the Nebraska Revenue Act of 1967 in an amount equal to fifteen percent of the present value of the aggregate amount of the charitable gift portion of a planned gift made by the individual during the tax year to any qualified endowment. The maximum credit per individual per tax year is five thousand dollars. The credit allowed under this section shall not exceed the taxpayer's income tax liability.(2) The credit cannot be carried back or forward, and the credit shall be applied to the tax year in which the planned gift is made. SourceLaws 2005, LB 28, § 4; Laws 2006, LB 1010, § 1.Termination Date: January 1, 2010