INSTRUCTIONS: 2010 NEBRASKA RETURN OF PARTNERSHIP INCOME BOOKLET

Partnerships operating in Nebraska file a form 1065N to document their state income tax owed. This document can be found as part of a larger booklet containing the form, supplemental schedule forms, and detailed instructions. This article discusses the booklet made available for tax year 2010.

Nebraska Return Of Partnership Income Booklet Step 1: Page 1 is a cover page stating the forms within.

Nebraska Return Of Partnership Income Booklet Step 2: On page 2, some terms are defined and general information is given about filing. This section continues through page 3 and includes instructions about penalties and interest paid by those filing late, reporting changes and corrections, requesting extensions of time to file and related concerns.

Nebraska Return Of Partnership Income Booklet Step 3: Pages 4 through 5 include information about how to document nonresident partners.

Nebraska Return Of Partnership Income Booklet Step 4: Page 5 and 6 contain information about how to document credits distributable to partners.

Nebraska Return Of Partnership Income Booklet Step 5: The remainder of page 6 contains information about how must file a form 1065N, where and when.

Nebraska Return Of Partnership Income Booklet Step 6: On page 7, line by line directions to complete form 1065N begin.

Nebraska Return Of Partnership Income Booklet Step 7: Instructions for Schedule I, concerning multistate apportionment, begin on page 8.

Nebraska Return Of Partnership Income Booklet Step 8: The eleventh page gives instructions for Schedules ELP and II.

Nebraska Return Of Partnership Income Booklet Step 9: The twelfth page contains instructions for completing Schedule III.

Nebraska Return Of Partnership Income Booklet Step 10: Form 1065N begins on the thirteenth page. Provide all identifying information requested and follow the instructions to accurately assess and document your tax liability to the state. Be sure to sign and date the form as instructed.

Nebraska Return Of Partnership Income Booklet Step 11: The 14th page contains Schedules I and ELP. Schedule I must be completed to determine the apportionment value for multistate collections, while schedule ELP concerns income reported to partners by electing to file large partnership form 1065-B.

Nebraska Return Of Partnership Income Booklet Step 12: The 15th page contains Schedule II.

Nebraska Return Of Partnership Income Booklet Step 13: The 16th page contains Schedule III.