Nebraska State Tax Update 2024
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Agenda
Webinar instructions will be emailed before the date of the webinar.
Please log into the webinar 15 – 30 minutes before the start time.
Tuesday, December 10, 2024
8:30 am – 4:10 pm CST
Presented by: Nicholas Nieman & Matthew Otteman
Nebraska Income Tax Update
- Recent income tax legal changes
- Review of recent income tax cases
- Significant legal issues
- Important developments at the Nebraska Department of Revenue
Nebraska Corporate Tax Update
- Review of corporate tax rates and rules
- Newly-enacted corporate tax changes
- Recent case law
Nebraska Property Taxes
- Nebraska property tax relief legislation
- Real property tax issues and updates
- Personal property assessments and reporting issues
- Property tax assessment, appeal and audit update
- Recent case law
Resolving Nebraska Tax Audits and Appeals
- Resolving a state tax matter
- What to do when you get an audit notice
- Preserving legal challenges
Economic Development, Business Expansion and Job Creation—Nebraska Incentives
- Overview of Nebraska tax incentive programs
- Tax increment financing (TIF)
- Workforce development incentive programs
- How to advise companies who want to expand
Sales and Use Tax Update
- State and municipal sales tax imposition
- Use tax imposition
- Industry-specific issues:
- Manufacturing
- Retail
- Transportation
- Healthcare
- Hospitality
- Services
- Not-for-profits
- Recent developments
- Cases and administrative determinations
Ethical Issues for Tax Professionals
- Ethics of representing clients in State tax matters
- How to avoid conflicts of interest and the ethical aspects of working as a team
- When to involve other professionals
- How to build an effective team
Webinar Instructions
All attendees must log-on through their own email – attendees may not watch together if they wish to earn continuing education credit. HalfMoon Education Inc. must be able to prove attendance if either the attendee or HalfMoon Education Inc. is audited.
Certificates of completion can be downloaded in PDF form upon passing a short quiz. A link to the quiz will be sent to each qualifying attendee immediately after the webinar. The certificate can be downloaded from the Results page of the quiz upon scoring 80% or higher.
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Credits
Attorneys
Pending
Accountants
8.0 CPE Credits
NASBA - National Association of State Boards of Accountancy
8.0 CPE Credits
Continuing Education Credit Information
This webinar is open to the public and offers accountants 8.0 CPE credits (based on 50-minute hours) of intermediate-level group internet based CPE credits in the area of Taxes. Knowledge of state-level taxation in Nebraska is beneficial, and no advance preparation is recommended. NASBA Sponsor No. 103015.
HalfMoon Education Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
HalfMoon Education will provide financial hardship assistance to accountants who wish to attend this event. Contact Frank Chapman at fchapman@halfmoonseminars.org for details and to apply.
The Nebraska State Board of Public Accountancy currently accepts courses approved by NASBA.
This webinar has been submitted to the State of Nebraska Judicial Branch for accreditation which is currently pending. Visit this course listing at www.halfmoonseminars.org for updates on pending credits.
Attendance will be monitored, and attendance certificates will be available after the webinar for those who attend the entire course and score a minimum 80% on the quiz that follows the course (multiple attempts allowed).
On-Demand Credits
The preceding credit information only applies to the live presentation. This course in an on-demand format is not pre-approved by any licensing boards and may not qualify for any credits; please consult your licensing board(s) to ensure that a structured, asynchronous learning format is appropriate.
Speakers
Nicholas Nieman
Attorney with McGrath|NorthMr. Nieman as a Nebraska-based State & Local Tax & Incentives Attorney, he has been working for over 38 years with company executive, tax, legal and site development personnel from around the country. He is called on by them to address Nebraska state and local tax and incentive planning strategies, site selection and development and Nebraska tax disputes (audits, claims, appeals and settlement). Mr. Nieman has led McGrath|North teams responsible for all aspects of site development and economic incentives in Nebraska, including site selection, site acquisition, site negotiation, regulatory and building approvals, project incentives and project entitlements. He has designed and drafted much of Nebraska’s tax, tax incentive and site development legislation. Mr. Nieman was the principal designer and drafter of the numerous Nebraska programs. He was also a co-designer and co-drafter of various other tax and incentive legislation, such as the Imagine Nebraska Act, LB 1107 (2020), LB 895 (2008) which added Tier 6 to the Nebraska Advantage Act, LB 872 (2012) which adopted the market state apportionment rule for business services income, LB 343 (2007) which extended the capital gain exclusion to extraordinary dividends and LB 161 (2017) which extended the tax incentive benefit carry forward period for Tier 6 projects. He has also worked with Nebraska’s business community and lobbyists to defend legislative attempts to repeal or reduce these programs. The above incentive and development programs have created over 100,000 new jobs and $35 billion of capital investment in over 900 business expansions throughout Nebraska. Nebraska’s Governors and State Directors of Economic Development have consulted with Mr. Nieman on economic development policy for over 3 decades. He has also authored a number of studies for the business community outlining strategies to improve Nebraska’s business climate. Mr. Nieman earned his B.S.B.A degree, summa cum laude, from Creighton University College of Business, and his J.D. degree from Creighton University School of Law.
Matthew Otteman
Attorney with McGrath | NorthMr. Otteman is an attorney with McGrath|North and is Chair of the firm’s Tax, Trusts and Estates Group. He specializes in taxation, including state and local taxation, state tax disputes and appeals, state business tax incentives, and site selection and planning. Mr. Otteman has represented clients of all sizes in both income, withholding, and sales tax assessments and claims before the Nebraska Department of Revenue. In addition, he has an extensive background in state tax incentives, including the Nebraska Advantage Act and Iowa’s and Missouri’s incentive programs. He has advised clients of all sizes with their tax incentive applications and claims, and assisted them in key aspects of the expansion planning process. Mr. Otteman is also an experienced Estate Planner and works closely with other members of the firm’s highly recognized and top rated estate planning team. His analytical approach keeps his clients informed on how the law will, or could, affect their business decisions. By looking at situations with a business model analysis, Mr. Otteman spots potential pitfalls and keeps the focus on accomplishing the client’s big picture goals. And, If a dispute should arise, he stands by his team’s ability to provide superior representation before the tax authorities. Mr. Otteman graduated summa cum laude from Creighton University College of Business, and thereafter received his Certified Public accountant registration. Wanting to further expand his capabilities to work with businesses, he received his law degree from Creighton University School of Law, graduating summa cum laude and then his L.L.M. in Taxation from the University of Alabama School of Law where he was valedictorian graduating magna cum laude. Because of his well recognized expertise, Mr. Otteman has been selected as an adjunct faculty member to teach business students at Creighton University College of Business for several years. He has also served as an adjunct faculty member to law students at the Creighton University School of Law. In addition, Mr. Otteman is a frequent speaker to CPA’s on a broad range of issues.
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