Clear costs, fuzzy benefits of tax incentive programs

Each year the Nebraska Department of Revenue submits a report of the financial details of Nebraska’s tax incentive programs. Although the Nebraska Advantage Act is the largest, the report provides the benefits paid to companies participating in seven distinct programs. This year’s report identifies the fiscal impact to Nebraska taxpayers of 132 qualifying projects that have received benefits under one or more of the seven programs.

The Annual Report contains specific, detailed information about the benefits participant companies have received and will continue to receive from the program. To date, a total of $905 million in tax credits and $187 million in sales tax refunds have been given, with another $37 million in sales tax refunds pending approval. While sales tax refunds are paid to the company when earned, the tax credits represent a cumulative liability to Nebraska taxpayers.

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