Change provisions relating to the determination, apportionment, adjustment, and reporting of taxable income for corporations and other unitary businesses

This bill amends Nebraska tax laws to clarify how corporations and limited liability companies report income for their shareholders. It specifically changes rules for small business corporations and LLCs that are part of larger business groups or operate in multiple states. The legislation requires these companies to use specific formulas to calculate how much income is earned within Nebraska and ensures that nonresident shareholders file returns or pay taxes on that portion of income. Additionally, it establishes a process where companies can pay taxes on behalf of nonresident shareholders if those individuals do not file their own returns.