Blank Nebraska 14N Form

Here are key takeaways about filling out and using the Nebraska 14N form:

• Who Must File: The Form 14N must be completed by every estate, trust, S corporation, partnership (not publicly traded), or limited liability company that has nonresident individuals.
• Filing Requirement: Each nonresident individual beneficiary, partner, member, or shareholder must have a Form 14N filed on their behalf if they are not completing a Nebraska Nonresident Income Tax Agreement (Form 12N).
• Filing Deadline: The Form 14N should accompany the organization’s Nebraska income tax return when filed with the Nebraska Department of Revenue.
• Withholding Rate: The amount withheld for nonresident individuals is 6.84% of the income subject to withholding.
• Tax Credit: Nonresident individuals can claim the amount on line 2 of Form 14N as a credit against their Nebraska income tax liability when they file Form 1040N.
• Documentation: Nonresident individuals must attach a copy of Form 14N to their Form 1040N in the designated space for the Wage and Tax Statement.
• Exceptions: Nonresidents are not required to file Form 1040N if their only connection to Nebraska is through the organization’s business activities and if tax has been withheld from all Nebraska income.
• Record Keeping: It is important for organizations to keep a copy of the Form 14N for their records.

• Form 1040N: This is the Nebraska Individual Income Tax Return. Similar to Form 14N, it requires nonresident individuals to report their income and claim any tax withheld. The amount reported on Form 14N is used as a credit against the tax liability on Form 1040N.
• Form 12N: The Nebraska Nonresident Income Tax Agreement allows nonresidents to agree on tax withholding and reporting. Like Form 14N, it addresses tax obligations for nonresident individuals, but it provides an alternative to filing Form 14N for those who have a specific agreement.
• Form 1065N: This is the Nebraska Return of Partnership Income. It includes details on income and deductions for partnerships. Similar to Form 14N, it requires reporting of income subject to withholding for nonresident partners.
• Release of Liability Form: To protect against unforeseen incidents, utilize the necessary Release of Liability documentation that outlines the responsibilities of participants in activities.
• Form 1120-SN: The Nebraska S Corporation Income Tax Return shares similarities with Form 14N in that it requires S corporations to report income and withholding for nonresident shareholders. Both forms ensure proper tax compliance for nonresidents.
• Form 1041N: The Nebraska Fiduciary Income Tax Return is for estates and trusts. It parallels Form 14N as it requires reporting of income and withholding for nonresident beneficiaries, ensuring that tax obligations are met for nonresidents involved with trusts.

When filling out the Nebraska 14N form, there are several important dos and don'ts to keep in mind. Following these guidelines can help ensure that the process goes smoothly and that you meet all necessary requirements.

• Do provide accurate names and addresses for both the organization and the nonresident individual.
• Do include the correct Nebraska Identification Number and Federal Identification Number.
• Do calculate the amount of Nebraska income tax withheld correctly, using the specified percentage.
• Do submit the form along with the organization’s Nebraska income tax return to the appropriate address.
• Don't file the form for entities other than individuals.
• Don't forget to provide a copy of the form to each nonresident individual for whom tax has been remitted.
• Don't overlook the requirement to attach a copy of Form 14N to the individual’s Form 1040N.
• Don't submit the form if the nonresident's only connection to Nebraska is through business activities of the organization.

By following these guidelines, you can avoid common pitfalls and ensure compliance with Nebraska tax regulations. Always double-check your information before submission to prevent delays or issues.

1. Failing to provide the correct organization’s name and mailing address. This information must be accurate to ensure proper processing.

2. Not including the nonresident individual’s name and mailing address. Omitting this can lead to delays or rejections.

3. Incorrectly reporting the Nebraska Identification Number or Federal Identification Number. Double-check these numbers for accuracy.

4. Forgetting to check the appropriate box indicating the type of organization. This step is crucial for classification purposes.

5. Miscalculating the amount of Nebraska income tax withheld. Ensure that this is 6.84% of the amount subject to withholding.

6. Not filing the form with the correct Nebraska Department of Revenue address. The form must be sent to P.O. Box 98911, Lincoln, Nebraska 68509-8911.

7. Failing to provide a copy of the Form 14N to each nonresident individual for whom tax was remitted. This is necessary for their records.

8. Neglecting to attach the Form 14N to the individual’s Form 1040N when filing. This attachment is essential for claiming the tax credit.