NE LB954

Amends the Nebraska Advantage Act to allow recalculation of base-year employees when a tier 6 project taxpayer sells a portion of business operations that continue operating under a separate entity outside the taxpayer's unitary group.

Department of Revenue must subtract the number of equivalent employees at the sold business operations from the taxpayer's base-year employee count calculated on the last Form 312N filed before the sale date.

Recalculation does not apply if the sold business operations cease all operations within 24 months after the sale, or if the primary purpose of the sale was to close a location.

Credits or other incentives generated prior to the sale are not subject to recalculation.

Applies to Nebraska Advantage Act agreements entered into after December 31, 2016.