NE LB649

Creates a wage tax credit equal to 5% of total compensation paid to qualified employees, capped at $4 million per year and $40 million total across all employers

Qualified employers must employ at least 10 full-time employees dedicated to military defense efforts, pay wages at 150% of Nebraska's statewide average hourly wage, and maintain employment levels over a 10-year performance period

Qualified employees must work at least 30 hours per week, be exclusively dedicated to supporting military defense in Nebraska, and hold positions created after July 1, 2025

Employers may use the wage credit to reduce state income tax withholding obligations, with unused credits carrying over to future years

Requires a $5,000 nonrefundable application fee and agreement with the Tax Commissioner, with credits subject to recapture if employment or wage requirements are not maintained