Section 316-24-245 - CORPORATE TAXPAYER; CAPITAL LOSSES; COMPUTATION; LIMITATIONS245.01Calculating a Nebraska Capital Loss. For a corporate taxpayer, a Nebraska capital loss is computed on the basis of this regulation. 245.01A For a corporate taxpayer that is not subject to apportionment the Nebraska capital loss is the amount of federal capital loss.245.01B A corporate taxpayer who is required to apportion its income to Nebraska must compute its Nebraska capital loss as follows: 245.01B(1) The federal capital loss is multiplied by the apportionment factor of the corporate taxpayer for the year of the capital loss; and245.01B(2) If the capital loss is reported on corporate stock or other assets, the income from which was not previously treated as apportionable to Nebraska or taxable to Nebraska, the loss cannot be included in the federal capital loss computed in Reg-24-245.01B(1)(1).245.02Limitations on Using a Nebraska Capital Loss Carryover.245.02A For any Nebraska capital loss incurred in tax years beginning on or after January 1, 1987, the Nebraska capital loss may be carried forward and applied against any Nebraska capital gain for each of the five tax years following the year of the capital loss.245.02B A corporate taxpayer who is required to apportion its income to Nebraska may only apply the Nebraska capital loss carryover against a Nebraska capital gain.245.02C A Nebraska capital gain is the federal capital gain multiplied by the apportionment factor of the corporate taxpayer for the year of the capital gab.245.02D If the capital gain is reported on corporate stock or other assets, the income from which was not treated as apportionable to Nebraska or taxable to Nebraska, the gain cannot be included in the federal capital gain computed in Reg-245.02C.316 Neb. Admin. Code, ch. 24, § 245
Adopted effective 7/5/2020