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Nebraska Income Tax Returns Required from Pass-Through Entities Alert

Posted by Admin Posted on July 16 2019

The Nebraska legislature recently passed LB 512 requiring each S corporation, limited liability company and partnership with income from Nebraska sources to file a Nebraska income tax return for all tax years beginning on or after January 1, 2019.

Prior to the legislation, these pass-through entities were not required to file Nebraska returns if all shareholders, members and partners were Nebraska residents and all the entity’s income was from Nebraska sources.

The Nebraska Department of Revenue encourages all taxpayers to file tax returns electronically and requires tax preparers who file more than 25 Nebraska corporate or partnership income tax returns to file electronically as well.

Electronically filing a Nebraska corporate or partnership return requires a Nebraska identification number that is assigned by the Department of Revenue.

 

  • A business that remits payroll income tax withholding or sales tax to Nebraska will already have an assigned Nebraska identification number to use when electronically filing the Nebraska pass-through return.
     
  • A pass-through entity without an assigned Nebraska identification number will need to apply for a number prior to electronically filing a 2019 Nebraska tax return.
     
  • Nebraska identification numbers can be obtained online at www.revenue.nebraska.gov/electron/online_f20.html.

 

All S corporations, limited liability companies and partnerships for which we will prepare 2019 initial Nebraska income tax returns will receive a letter and form from our office to complete and return as soon as possible, regarding the Nebraska identification number required to electronically file the 2019 tax return.