INSTRUCTIONS: CLAIM FOR NEBRASKA PERSONAL PROPERTY EXEMPTION (Form 5725X)
Any Nebraska taxpayer or entity who has signed an agreement related to the Nebraska Advantage Act concerning a business project must complete form 5725X in order to qualify for a personal property exemption. It is important to familiarize yourself with the Nebraska Advantage Act by visiting the state's official website before determining whether your project is eligible. This form is available on the website of the state's Department of Revenue.
Claim For Nebraska Personal Property Exemption 5725X Step 1: Enter your name and mailing address at the top of the form.
Claim For Nebraska Personal Property Exemption 5725X Step 2: Enter your Nebraska Taxpayer Identification Number.
Claim For Nebraska Personal Property Exemption 5725X Step 3: Give the name, number and location of the project in question.
Claim For Nebraska Personal Property Exemption 5725X Step 4: Give the county in which the project is being completed.
Claim For Nebraska Personal Property Exemption 5725X Step 5: Give the date on which the agreement regarding the Nebraska Advantage Act was signed.
Claim For Nebraska Personal Property Exemption 5725X Step 6: Give the end of the tax year in which the requirements of $11 million in investment 100 full-time employees were met. List the tax years in which these levels were not maintained.
Claim For Nebraska Personal Property Exemption 5725X Step 7: Section A should be completed if your project involves turbine-powered aircraft. If so, complete Nebraska Schedule I and transfer the net book value of this aircraft.
Claim For Nebraska Personal Property Exemption 5725X Step 8: Section B should be completed if your project involves computer systems and peripheral components. If so, complete Nebraska Schedule II and transfer the net book value of this equipment.
Claim For Nebraska Personal Property Exemption 5725X Step 9: Section C should be completed if your project involves agricultural processing equipment. If so, complete Nebraska Schedule III and transfer the net book value of this equipment.
Claim For Nebraska Personal Property Exemption 5725X Step 10: Section D should be completed if your project involves distribution facility equipment. The net book value of this will be determined by completing Nebraska Schedule III.
Claim For Nebraska Personal Property Exemption 5725X Step 11: The applicant or an authorized representative should sign and date the form and give their title. Provide the name, telephone number and e-mail address of a contact person.
