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LB 406: Change tax provisions

As introduced: LB 406 eliminates certain sales and use tax exemptions; eliminates the income tax on corporations; eliminates the financial institutions franchise tax; exempts certain retirement income from the Nebraska income tax; eliminates the earned income tax credit; changes benefits and requirements regarding certain tax incentive programs; makes adjustments to…...

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LB 406 would hurt low- and middle-income families

  LB 406 would adversely impact low-income families by eliminating the Earned Income Tax Credit (EITC) and Child Care Tax Credit (CTC).  We oppose the elimination of these credits because of the impact it will have on low- and middle-income families. In 2007, Nebraska expanded the EITC to 10% of…...

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