Who Must File.
Any eligible claimant must file the Nebraska Community Development Assistance Act Credit Computation, Form CDN, to claim a credit.
When and Where to File.
This computation must be completed and attached to the income or financial institution tax return filed with the Nebraska Department of Revenue (Department) or with the premium tax return filed with the Nebraska Department of Insurance.
Eligible Claimants.
The Community Development Assistance Act credit may be claimed by individuals or business firms that have been granted the tax credit by the Nebraska Department of Economic Development (DED). The credit is given for contributions to projects of community betterment organizations approved by the DED. Individuals, sole proprietors, corporations, partnerships, S corporations, fiduciaries, and limited liability companies (LLCs) conducting business activities may be eligible for the credit. This includes insurance companies paying the premium tax or financial institutions paying the financial institution 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, Nebraska 68509-4666; 402‑471‑6280; or 800-426‑6505. For more information go to neded.org. Please do not contact the Nebraska Department of Revenue.