Enlarge image | RESET PRINT FORM NFC Statement of Nebraska Financial Institution Tax Credit 2020 Financial Institution’s Name and Mailing Address Shareholder’s Name and Mailing Address Name Name Street or Other Mailing Address Street or Other Mailing Address City State Zip Code City State Zip Code Nebraska ID Number Federal ID Number Social Security Number Spouse’s Social Security Number Taxable Year of Financial Institution Financial Institution Tax Credit (from Column I, Beginning , 20 and Ending , 20 Shareholder’s Schedule, Form 1120NF) ..................... $ Provide this statement to the shareholder or beneficiary. Form NFC must be filed with the shareholder’s or beneficiary’s Nebraska Individual Income Tax Return, Form 1040N. Please retain a copy for your records. Instructions Who Completes the Form. Every financial institution organized as an S corporation must complete a Statement of Nebraska Financial Institution Tax Credit, Form NFC, for each shareholder. If the financial institution is owned by an S corporation bank holding company attach a list of the shareholders of the holding company. If a trust owns shares of the financial institution, attach a list of the beneficiaries of the trust. This statement must be provided to each shareholder or beneficiary, as applicable. Do not file it with the Nebraska Financial Institution Tax Return, Form 1120NF. The individual shareholder or beneficiary must attach this statement to his or her Nebraska individual income tax return to claim the credit. If the shares are jointly owned by spouses, then one Form NFC may be completed for both spouses. If shares are owned separately by spouses filing a married, filing jointly return, separate Forms NFC must be issued to each owner reflecting each spouse’s proportionate share of the credit. Amount of Credit. Enter the individual shareholder’s or beneficiary’s amount of calculated credit from Column I, Shareholder’s Schedule, Form 1120NF. Do not enter the total amount of the tax paid by the financial institution. Shareholder Beneficiary. See the “Credit for Financial Institution Tax” section of the instructions for the Nebraska Individual Income Tax Return, Form 1040N. 8-632-2020 |