INSTRUCTIONS: NEBRASKA RETURN OF PARTNERSHIP INCOME (Form 1065N)
Partnerships doing business in Nebraska use a state form 1065N to document their income in the state. The document can be obtained from the website of the Nebraska Department of Revenue.
Nebraska Return Of Partnership Income 1065N Step 1: Enter your business trade name, legal name, city, state and zip code.
Nebraska Return Of Partnership Income 1065N Step 2: Enter your federal ID number and Nebraska ID number.
Nebraska Return Of Partnership Income 1065N Step 3: Enter your business classification code, the date you began business in the state, your principal activity in the state, and indicate with a checkmark if your partnership has nonresident individual partners. If so, you must complete a separate Schedule III return.
Nebraska Return Of Partnership Income 1065N Step 4: Indicate your type of organization with a check mark. Below, check all applicable statements about the type of return you are filing.
Nebraska Return Of Partnership Income 1065N Step 5: Enter your ordinary business income on line 1. Apply adjustments to your income as directed on lines 2 and 3.
Nebraska Return Of Partnership Income 1065N Step 6: Subtract line 3 from the sum of lines 1 and 2. Enter the resulting difference on line 4.
Nebraska Return Of Partnership Income 1065N Step 7: Enter your income reported to Nebraska. This is either line 4 or, if filing as a multistate corporation, by completing the Schedule I apportionment of income calculations and transferring the result from line 3 there to line 5 on the first page.
Nebraska Return Of Partnership Income 1065N Step 8: Lines 6 and 7 concern nonresident individual partners' percentage of membership.
Nebraska Return Of Partnership Income 1065N Step 9: Subtract line 7 from line 6. Enter the resulting difference on line 8.
Nebraska Return Of Partnership Income 1065N Step 10: Multiply line 5 by line 8. Enter the resulting product on line 9.
Nebraska Return Of Partnership Income 1065N Step 11: Multiply line 9 by .0684 and enter the resulting product on line 10.
Nebraska Return Of Partnership Income 1065N Step 12: Lines 11 through 14 concern the final calculations necessary to determine your adjusted tax owed.
Nebraska Return Of Partnership Income 1065N Step 13: A partner or member should sign the bottom of the first page.
