Nebraska Revised Statutes Chapter 77. Revenue and Taxation § 77-2734.08. Income tax; group of corporations as taxpayer; adjustments to income

(1) When the corporate taxpayer is a group of corporations that does not file a consolidated federal return, the sum of each corporation's federal taxable income shall be used to determine taxable income.

(2) The sum of the federal taxable income of the group of corporations shall be adjusted to eliminate intercompany transactions.

(3) If the group of corporations includes a domestic international sales corporation or other entity accorded similar treatment under the Internal Revenue Code, the income of the group shall include only that portion of the domestic international sales corporation's income that is considered to be a dividend to the parent.