77-27,233 Estate or trust; income tax credit; amount; treatment. - Nebraska Statutes

77-27,233. Estate or trust; income tax credit; amount; treatment.A contribution to a qualified endowment by a resident estate or trust qualifies for the credit provided in section 77-27,230 if the contribution is a planned gift or in section 77-27,232 if the contribution is an outright gift to a qualified endowment. Any credit not used by the estate or trust may be attributed to each beneficiary of the estate or trust in the same proportion used to report the beneficiary's income from the estate or trust for Nebraska income tax purposes. The maximum credit per beneficiary is five thousand dollars, and the credit can only be claimed in the tax year in which the contribution is made. The credit cannot be carried back or forward. SourceLaws 2005, LB 28, § 7; Laws 2006, LB 1010, § 4.Termination Date: January 1, 2010