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NE LB194
Bill
Status
2/26/2025
Primary Sponsor
Tony Sorrentino
Click for details
AI Summary
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Amends section 76-902 of Nebraska statutes to clarify documentary stamp tax exemptions for property transfers to wholly-owned corporations and limited liability companies
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Adds new clarifying language specifying that family transfer exemptions apply when a grantor transfers property to a corporation or LLC they wholly own as the single shareholder or member
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Extends the exemption to transfers where spouses convey property to a corporation or LLC wholly owned by one of the spouses
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Allows family members (related within the fourth degree of kindred) to transfer property tax-exempt to a corporation or LLC wholly owned by one family member
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Approved by the Governor on February 25, 2025, introduced by Senator Sorrentino of District 39
Legislative Description
Change provisions relating to a documentary stamp tax exemption
Last Action
Approved by Governor on February 25, 2025
2/26/2025