This bill amends several sections of the Nebraska Revised Statutes, focusing on the taxation of partnerships, small business corporations, and the processes for notices of deficiency determinations and claims for refunds. Key changes include granting the Tax Commissioner the authority to require different filing frequencies based on a seller's yearly tax liability, as well as the ability to adopt rules for retailers making electronic payments. The bill also mandates that when disallowing claims for refunds, the Tax Commissioner must provide a written notice detailing the facts and reasons for the determination, enhancing transparency in the tax administration process.

Additionally, the bill allows partnerships to make an irrevocable election to pay taxes at the entity level, clarifying the tax obligations for partners, including nonresident partners. It establishes requirements for nonresident shareholders and members of small business corporations and limited liability companies to file Nebraska income tax returns, ensuring they include their share of income derived from Nebraska sources. The amendments aim to streamline tax processes, clarify tax responsibilities, and enhance compliance among small businesses and their stakeholders in Nebraska.

Statutes affected:
Introduced: 77-2708, 77-2709, 77-2727, 77-2734.01, 77-2776, 77-2786, 77-2796