LB802

Nebraska LB802 proposes changes to individual income tax rates and brackets, adjusting them based on inflation.

Nebraska LB802 amends the individual income tax rates and brackets, adjusting them annually based on the Consumer Price Index. The bill establishes specific tax rates and brackets for different income levels and filing statuses, effective from January 1, 2013, through January 1, 2027. It also mandates the Tax Commissioner to update tax rate schedules and prepare tax tables for taxpayers to determine their Nebraska tax liability. The bill affects all individual taxpayers in Nebraska by altering their tax obligations according to the new rates and brackets.