Questions & Answers

What is the CDAA Credit?

The Community Development Assistance Act (CDAA) enables the Nebraska Department of Economic Development (DED) to distribute this 40% state tax credit to businesses, corporations, insurance firms, financial institutions, and individuals that make eligible cash contributions or provide services and materials to approved community betterment projects.

If you contributed to a betterment project you should have received a Form 1099-NTC from the DED.

The tax credit must be claimed on the tax return for the year when the contribution is made. Any tax credit balance can be carried over and applied against the tax liability for the next five years immediately succeeding the tax year where the credit was first properly claimed and allowed.

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