{"id":24022,"date":"2018-04-11T05:18:01","date_gmt":"2018-04-11T11:18:01","guid":{"rendered":"http:\/\/update.legislature.ne.gov\/?p=24022"},"modified":"2018-04-11T05:19:42","modified_gmt":"2018-04-11T11:19:42","slug":"indexing-of-social-security-tax-exemption-thresholds-approved","status":"publish","type":"post","link":"https:\/\/update.legislature.ne.gov\/?p=24022","title":{"rendered":"Indexing of Social Security tax exemption thresholds approved"},"content":{"rendered":"<p>Income thresholds the state uses to determine whether Social Security benefits are exempt from taxation will be indexed for inflation under a bill passed by the Legislature April 11.<figure id=\"attachment_20149\" aria-describedby=\"caption-attachment-20149\" style=\"width: 200px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"20149\" data-permalink=\"https:\/\/update.legislature.ne.gov\/?attachment_id=20149\" data-orig-file=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenLindstrom_inline.jpg\" data-orig-size=\"297,445\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"senlindstrom_inline\" data-image-description=\"&lt;p&gt;Sen. Brett Lindstrom&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Sen. Brett Lindstrom&lt;\/p&gt;\n\" data-large-file=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenLindstrom_inline.jpg\" src=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenLindstrom_inline-200x300.jpg\" alt=\"Sen. Brett Lindstrom\" width=\"200\" height=\"300\" class=\"size-medium wp-image-20149\" srcset=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenLindstrom_inline-200x300.jpg 200w, https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenLindstrom_inline.jpg 297w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><figcaption id=\"caption-attachment-20149\" class=\"wp-caption-text\">Sen. Brett Lindstrom<\/figcaption><\/figure><\/p>\n<p>Under current law, federal adjusted gross income for state tax purposes is reduced by the amount received as Social Security benefits if AGI is $58,000 or less for those married filing jointly or $43,000 or less if filing as an individual.<\/p>\n<p>LB738, introduced by Omaha Sen. Brett Lindstrom, indexes those exemption thresholds for inflation in the same way the state\u2019s income tax brackets are indexed, beginning with tax year 2020.<\/p>\n<p>The state Department of Revenue estimates that the bill would decrease state revenue by $1.3 million in fiscal year 2019-20. That would increase to $3.9 million by FY2021-22. <\/p>\n<p>Senators voted 44-2 to pass the bill. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Income thresholds the state uses to determine whether Social Security benefits are exempt from taxation will be indexed for inflation under a bill passed by the Legislature April 11.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[140],"class_list":["post-24022","post","type-post","status-publish","format-standard","hentry","category-revenue","tag-sen-brett-lindstrom"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/24022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24022"}],"version-history":[{"count":2,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/24022\/revisions"}],"predecessor-version":[{"id":24028,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/24022\/revisions\/24028"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}