Nebraska LB857 updates federal tax references in the Nebraska Revenue Act of 1967 to align with the Internal Revenue Code of 1986.
Nebraska LB857 amends the Nebraska Revenue Act of 1967 to update federal tax references, ensuring they align with the Internal Revenue Code of 1986 as amended on January 1, 2024. This change affects how terms and references are interpreted within the state's tax laws, ensuring consistency with federal tax laws. The bill also repeals the original section 77-2714, replacing it with the updated provisions.
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