A proposal to cut inheritance tax rates and increase exemption amounts advanced to the final round of debate Jan. 20 after lawmakers amended it to ensure step relatives receive the same inheritance tax treatment as beneficiaries who are blood relatives.
Read moreThe Revenue Committee heard testimony Jan. 19 on a proposal intended to prevent a tax credit based on school property taxes paid from falling below its current amount.
Read moreThe Revenue Committee heard testimony Jan. 19 on a proposal to speed up the eventual elimination of state taxation of Social Security income and voted to advance the measure to the first round of debate.
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Senators rejected a second attempt to advance a bill from general file that would create a tax credit scholarship program for Nebraska private school students after a failed cloture motion Jan. 12.
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Lawmakers gave first-round approval Jan. 11 to a bill that would cut Nebraska’s inheritance tax rates while increasing the amount of property value that is exempt from the tax.
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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.
Read moreLawmakers approved a bill May 21 that cuts Nebraska’s top corporate income tax rate by approximately one-half of 1 percent over the next two years.
Read moreLawmakers passed a bill May 20 that updates the provisions of a major tax incentive program passed in 2020.
Read moreThe state will turn back new sales tax revenue to cities to help them build sports complexes under a bill approved by lawmakers May 20.
Read moreBusinesses that invest in urban areas with high poverty and unemployment rates may qualify for tax incentives under a bill approved by the Legislature May 20.
Read moreSenators passed a bill May 20 intended to modernize the state’s small business tax credit.
Read moreResidential water service in Nebraska will no longer be taxed under a bill passed May 20.
Read moreCompanies that build nuclear power plants in Nebraska will be eligible for tax incentives under a bill passed by lawmakers May 20.
Read moreLawmakers passed a bill May 20 containing several sales and use tax exemptions, including one for inputs used to manufacture ethanol.
Read moreLawmakers passed a bill May 20 to reduce taxation of Social Security income in Nebraska over several years with the intention of eliminating it entirely.
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