Multistate Tax Alert: Nebraska Governor Proposes Significant Tax Law Changes
Nebraska Governor Heineman recently announced his proposals to overhaul the tax structure in the state to make Nebraska more tax competitive and to create more and higher paying jobs. The proposals generally focused on reducing or eliminating the corporate and personal income taxes as well as eliminating certain sales tax exemptions. Governor Heineman’s proposals were formalized in two bills introduced in the Nebraska legislature in late January, LB 405 and LB 406. In the attached Tax Alert we summarize the proposed law changes.