43-1072.02. Credit for increased transaction privilege or excise tax paid for education
A. Subject to the conditions prescribed by this section, for taxable years beginning from and after December 31, 2020 and ending before January 1, 2042, a credit is allowed against the taxes imposed by this chapter for a taxable year for a taxpayer who is not claimed as a dependent by any other taxpayer and whose federal adjusted gross income is:
1. $25, 000 or less for a married couple or a single person who is a head of a household.
2. $12, 500 or less for a single person or a married person filing separately.
B. The credit is considered to be in mitigation of increased tax rates pursuant to section 42-5010.01 and section 42-5155, subsection E.
C. The amount of the credit may not exceed $25 for each person who is a resident of this state and who is either the taxpayer, the taxpayer's spouse who does not file a return or a dependent and shall not exceed $100 for all persons in the taxpayer's household as defined in section 43-1072.
D. If the allowable amount of the credit exceeds the income taxes otherwise due on the claimant's income, the amount of the claim not used as an offset against income taxes shall be paid in the same manner as a refund granted under section 42-1118. Refunds made pursuant to this subsection are subject to setoff under section 42-1122.
E. A person who is sentenced for at least sixty days of the taxable year to the custody of the federal bureau of prisons, the state department of corrections or a county jail is not eligible to claim a credit pursuant to this section.
F. The department shall make available suitable forms with instructions for claimants. Claimants who certify on the prescribed form that they have no income tax liability for the taxable year and who do not meet the filing requirements of section 43-301 are not required to file an individual income tax return. The claim shall be in a form prescribed by the department.
G. A tax return or form prescribed pursuant to subsection F of this section must have:
1. A social security number that is valid for employment for the claimant.
2. Either a valid social security number or an individual taxpayer identification number issued by the internal revenue service for the claimant's spouse and any qualifying children of the claimant.
H. A taxpayer that claims a credit under this section may not claim the credit under section 43-1072.01 for the same taxable year. The credits under this section and section 43-1072.01 shall be collectively referred to as the excise tax credit and claimed using the same credit form or line on the tax return. For the purposes of the report required by section 43-224, the department shall report the credits under section 43-1072.01 and this section together as one credit.