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NE LB171
Bill
Status
1/13/2025
Primary Sponsor
Tom Brandt
Click for details
AI Summary
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Accelerates Nebraska's individual income tax rate reductions by setting both the third bracket rate (currently 5.01%) and top bracket rate to 4.99% beginning January 1, 2026, eliminating the previously scheduled further reduction to 3.99% in 2027
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Reduces the corporate income tax rate to 4.55% for taxable years beginning January 1, 2026, instead of the previously enacted 4.99% rate, and eliminates the scheduled reduction to 3.99% in 2027
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Amends sections 77-2715.03 (individual income tax) and 77-2734.02 (corporate income tax) of the Revised Statutes Cumulative Supplement, 2024
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Introduced by Senator Brandt (District 32) on January 13, 2025, during the First Session of the 109th Legislature
Legislative Description
Change provisions relating to individual and corporate income tax rates
Last Action
Spivey name added
2/19/2026