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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Social Security income tax partial phaseout approved
Lawmakers passed a bill May 20 to reduce taxation of Social Security income in Nebraska over several years with the intention of eliminating it entirely.
Read MorePhaseout of Social Security income tax amended, advanced to final round
Lawmakers added a pause to the proposed elimination of state taxation of Social Security income before giving the bill second-round approval May 11.
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Phaseout of Social Security income tax advanced
The Nebraska tax on Social Security income would be phased out gradually under a bill given first-round approval April 26.
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Bill introduction begins
Senators reconvened Jan. 7 to begin introduction of new bills.
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