Section 316-20-003 - PAYMENT OF ESTIMATED TAX: EXEMPT ENTITIES003.01 Partnerships, limited liability companies taxed as partnerships, estates, trusts, and small business corporations with an election in effect under subchapter S of the Internal Revenue Code are not required to make payments of Nebraska estimated income tax. A small business corporation will not be considered to have an election in effect under subchapter S as to an estimated tax installment date if such election is terminated before the end of the taxable year.003.02 The partners, members, beneficiaries, and shareholders must file estimated tax payments in their separate capacity if they meet the requirements of Reg-20-001 or Reg-20-002.003.03 Residents must combine their estimated income from all sources to determine their estimated Nebraska income tax. Nonresidents must combine their estimated income from the partnership, limited liability company, estate, trust, or electing small business corporation that is derived from or attributable to Nebraska sources with all other estimated income derived from or attributable to Nebraska sources to determine their estimated Nebraska income tax.316 Neb. Admin. Code, ch. 20, § 003
Section 21-2633, R.R.S. 1997, and sections 77-2734.01, and 77-2769, R.R.S. 1996. November 11, 1998.