Session Review: Revenue

Among the proposals advanced by the Revenue Committee this session is a package of bills that cut individual and corporate income tax rates, speed up the phaseout of state taxation of Social Security income and expand a program intended to offset property taxes used to fund education.

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Session Review: Revenue

The Revenue Committee advanced bills this session that cut Nebraska’s top corporate income tax rate and will exempt military retirement pay and a percentage of Social Security income from state income tax.

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Revenue

The Revenue Committee this session advanced a major proposal that includes a new tax credit based on the amount of property taxes paid to a taxpayer’s school district, a new business tax incentive program and a requirement to provide matching funds for a potential project at the University of Nebraska Medical Center.

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Session Review: Revenue

The Revenue Committee advanced bills this session that would require a political subdivision to hold a public hearing before increasing its property tax request, require out-of-state internet retailers to collect state sales tax on purchases made by Nebraska residents and allow a county to impose a sales tax to pay a federal judgment against it.

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Session Review: Revenue

The Revenue Committee advanced bills this session that would require online retailers to collect sales taxes on Nebraska transactions, create a tax credit for private school scholarship donations and provide more state aid to schools that rely on property taxes for a large portion of their funding.

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