NE LB1025

Imposes a monthly excise tax on social media platform businesses beginning January 1, 2027, based on the number of Nebraska consumers whose data they collect: $0 for 50,000 or fewer; $0.10 per consumer for 50,001-250,000; $0.25 per consumer for 250,001-500,000; and $0.50 per consumer for over 500,000

Defines "social media platform" as electronic services allowing users to create, share, and view user-generated content for social interaction, excluding search engines, email services, streaming services, e-commerce sites, cloud computing, and teleconferencing

Creates the Juvenile Mental Health Support Fund administered by the Department of Health and Human Services to receive all tax revenue for juvenile mental health programming and facilities

Presumes consumers with Nebraska home addresses, mailing addresses, or IP addresses connected to Nebraska locations are Nebraska consumers, with the burden of proof on the platform to establish otherwise

Allows tax credits for platforms that pay identical excise taxes in other states for the same consumer, and treats controlled corporate groups as a single entity for tax purposes