LB377: Modernizing Relatives Subject to Inheritance Tax

Introduced on January 13, 2021
Status: Assigned To Committee

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Summary

The Platte Institute will provide testimony in support of LB377. Nebraska is one of only six states that levies an inheritance tax. Because the tax was created in 1901, many of its provisions are in need of modernization, including Nebraska’s top 18% inheritance tax rate on non-relatives and distant relatives, which is also the country’s highest tax rate. LB377 would modernize the definition of relatives, who would then be subject to a lower inheritance tax rate.

Click here to visit the Nebraska Legislature website to submit written comment about LB377.

Last Action

LB377 will be heard by the Revenue Committee on Thursday, February 18, 2021 at 9:30 a.m. Click here to view a livestream of the hearing.