Nebraska LB171 amends individual and corporate income tax rates, adjusting brackets and rates over time.
Nebraska LB171 modifies the state's individual and corporate income tax rates, establishing new brackets and rates for different periods. For individuals, the bill sets specific rates for taxable years starting from January 1, 2013, and adjusts them annually based on inflation. Corporate taxpayers face varying rates depending on their taxable years, with adjustments also tied to inflation. The Tax Commissioner is tasked with updating tax rate schedules and preparing tax tables for taxpayers to determine their Nebraska tax liability.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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