Section 316-24-140 - FEDERAL TAXABLE INCOME140.01 Federal taxable income for corporate taxpayers means the taxpayer's federal taxable income as determined under the IRC. For pass-through entities, federal taxable income means total income minus total deductions as determined under the IRC. Except for the adjustment to income related to foreign taxes paid in excess of federal rates, or the deduction for dividends deemed to be received from corporations which are not subject to the IRC, no adjustment is allowed for a change from any election made or the method used in computing federal taxable income.316 Neb. Admin. Code, ch. 24, § 140
Adopted effective 7/5/2020