The credit may be claimed by business firms who have been granted the tax credit by the Nebraska Department of Economic Development. The credit is given for contributions to approved projects of community betterment organizations recognized by the Nebraska Department of Economic Development.

Corporations, individuals, fiduciaries, partnerships, S corporations, and limited liability companies conducting business activity may be eligible for the credit. This includes insurance companies paying in lieu of intangible tax or financial institutions paying deposits tax.

For additional information on the Community Development Assistance Act credit, please contact the:

Nebraska Department of Economic Development

Housing and Community Development Division

PO Box 94666

Lincoln, NE 68509-4666

or you may call 1-402-471-4169 or 1-800-426-6505, ext 4169.

Please do not contact the Nebraska Department of Revenue.

You must retain all records regarding their contributions for at least three years after claiming a credit or utilizing a carry-over.

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