Nebraska Personal Property Tax
The UltraTax / Nebraska Personal Property Tax application supports 1040, 1041, 1065, 1120, and 1120S entities. It prepares the personal property tax returns from depreciation data entered in the
Asset Detail
window.Nebraska forms and schedules
- Personal Property Return
- Net Book Value Personal Property Schedule
Depreciation treatments required for all NE PPT assets
The Tax or NE treatment needs to be entered for Nebraska Personal Property Tax returns. By default, the Tax treatment transfers to the return. However, if
3
is entered in Choose treatment within the Asset module to complete return
on the Gen
in the General folder for UltraTax / Nebraska Personal Property Tax, the NE treatment will transfer to the return.note
If you've entered depreciation data for only the Tax treatment, you can copy asset data from the Tax treatment to the Book treatment or to the NE treatment.
Associations required for all NE PPT assets
- Situs:Each asset needs to haveNebraskaas theSitusto transfer to the Nebraska Personal Property Tax return.
- Location:Enter the street address of the company where the assets are located. A property tax return is created for each location entered.
- PPT type - NE:Select the personal property type for the asset. Assets with the following property types transfer to the Nebraska Personal Property Return.
- Agricultural machinery & equipment
- Commercial & industrial property
noteThese associations are maintained by UltraTax CS and Fixed Assets CS and can't be modified. If the association fields are left blank orX - Exemptis selected, the asset won't transfer to the Nebraska Personal Property Return.
Additional associations for NE PPT assets
Quantity:
Enter information here to transfer information to the Number of Items
in the Nebraska Net Book Value Schedule.
