Nebraska LB846 amends individual income tax deductions, adjusting standard deduction amounts and personal exemption credits.
Nebraska LB846 modifies individual income tax deductions by adjusting the standard deduction amounts and personal exemption credits. For tax years starting after January 1, 2018, individuals who did not itemize deductions on their federal returns can subtract a standard deduction from their federal adjusted gross income. The standard deduction is the smaller of the federal standard deduction or specific amounts based on filing status.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.