Nebraska Form 12N PDF Details

Understanding tax obligations is essential, especially for nonresidents participating in various types of organizations within Nebraska, which is precisely where the Nebraska 12N form comes into play. This form caters to nonresident individuals associated with estates, trusts, limited liability companies, partnerships, and S corporations, detailing a straightforward agreement related to income tax responsibilities. Required for each tax year, the form serves as a declaration of nonresidency and outlines the commitment of the filing nonresident to timely file a Nebraska Individual Income Tax Return, Form 1040N, and to pay any due taxes. It specifically addresses the inclusion of income attributable to the filer’s interest in the said organization within their Nebraska adjusted gross income. Critical points include the necessity of delivering the form to the organization before filing its Nebraska income tax return and the repercussions of failing to properly complete or file Form 12N. This could lead to the organization having to withhold a portion of the nonresident’s share of income at a rate of 6.84%. However, those who follow through with the agreement find it binding upon themselves and their successors, ensuring compliance with Nebraska’s tax laws. The intricacies of the 12N form underscore the importance of understanding one’s tax obligations and the procedures to be followed for nonresidents earning income through entities in Nebraska.

QuestionAnswer
Form NameNebraska Form 12N
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other names2013, LLCs, 15th, Scorporation

Form Preview Example

Nebraska Nonresident Income Tax Agreement

FORM 12N

2013

Type of Organization (Check only one.)

 

 

 

 

 

PLEASE DO NOT WRITE IN THIS SPACE

Estate or Trust

Limited Liability Company

Partnership

S Corporation

 

 

 

 

 

 

 

 

 

 

 

 

Taxable Year of Organization

 

 

 

 

 

 

 

 

 

Beginning

 

 

, 20

 

and Ending

 

, 20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonresident’s Taxable Year Including Organization’s Year End

 

 

 

 

 

Beginning

 

 

, 20

 

and Ending

 

, 20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonresident Individual’s or

Nonresident Grantor’s Name and Mailing Address

Type or Print

Name

 

 

 

 

 

 

 

Please

Street or Other Mailing Address

 

 

 

 

 

 

 

 

City

 

State

Zip Code

Social Security Number

 

Spouse’s Social Security Number

 

 

 

 

 

 

Internal Revenue Service Center Where Nonresident Individual’s Federal Return is Filed

Organization’s Name and Mailing Address

Name Doing Business As (dba)

Legal Name

Street or Other Mailing Address

City

 

State

Zip Code

Nebraska ID Number

 

Federal ID Number

 

 

 

 

 

 

 

 

 

 

 

sign here

I declare that I was a nonresident of Nebraska for the tax year shown above, and agree that I will: timely file a Nebraska Individual Income Tax Return, Form 1040N; pay any income tax due; and that I will include in Nebraska adjusted gross income the portion of the above-named organization’s Nebraska income attributable to my interest in that organization for the taxable year that includes the year end date of the organization.

This Agreement shall be binding upon my heirs, representatives, assignees, successors, executors, and administrators.

Signature of Nonresident Beneficiary, Member, Partner, or Shareholder

Date

Instructions

Who May File. Any individual taxpayer who was a nonresident of Nebraska during any part of the organization’s taxable year may complete Form 12N. A nonresident individual taxpayer includes a nonresident grantor of a grantor trust.

When and Where to File. A signed and dated Form 12N must be completed each year and delivered to the organization prior to the iling of the organization’s Nebraska income tax return. The due date for the Nebraska income tax return for

estates, trusts, partnerships, and certain limited liability companies (LLCs) is the 15th day of the fourth month following the close of the taxable year. The due date for the Nebraska income tax return of an S corporation and certain LLCs is the 15th

day of the third month following the close of the taxable year.

If Form 12N is Filed. The nonresident individual who has iled the Form 12N is required to timely ile a Nebraska

Individual Income Tax Return, Form 1040N. This return must report tax on the nonresident’s share of the organization’s

Nebraska income attributable to his or her interest in the organization during the taxable year, as well as any other income the nonresident has earned from Nebraska sources.

A nonresident individual taxpayer who has a taxable year different from the taxable year shown on the Form 12N for the estate, trust, S corporation, partnership, or LLC, must report the income on a Form 1040N that includes the tax year end

date of the organization.

If Form 12N is Not Completed and Filed. If Form 12N is not properly completed and attached to the organization’s return for a nonresident individual, the organization is required to remit 6.84% of the nonresident’s share of the organization’s income derived from, or attributable to, Nebraska sources. The income tax withholding must be remitted with the Nebraska Schedule K-1N - Shareholder's Share of Income, Deductions, Modiications, and Credits, and the organization’s Nebraska return. When the nonresident individual iles Form 1040N, the amount submitted by the organization will be allowed as a

credit against the individual taxpayer’s Nebraska income tax liability.

If the nonresident has no other Nebraska source income and the organization has iled a Schedule K-1N and remitted the appropriate income tax withholding for the nonresident, the nonresident is not required to ile Form 1040N. The income tax withholding will be retained by the state. Any nonresident may still ile a return and claim a refund if one is due.

Publicly-traded partnerships are not subject to the income tax withholding provision stated above.

Attach this agreement to the organization’s Nebraska income tax return.

revenue.nebraska.gov, 800-742-7474 (NE and IA), 402-471-5729

8-065-2013

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