Emergency grace period on vehicle registration and driver licenses ends August 31
Nebraska Gov. Pete Ricketts has rescinded an emergency executive order that effectively allowed some drivers and vehicle owners to continue operating their vehicles with expired licenses or unpaid registrations during the state of emergency declared for the COVID-19 pandemic. Executive Order 20-05 provided a grace period for permits, licenses, and registrations that expired on or...
Scheer: Legislature hasn’t reached consensus on major tax issues
Nebraska Legislature Speaker Jim Scheer and Executive Board Chair Sen. Mike Hilgers were guests on today’s Platte Institute Webinar. The focus of the webinar was the upcoming return of the Legislature on July 20, and what can be expected in the remaining 17 days of the legislative calendar. The Legislature’s session was suspended in March...
States are sticking with most CARES Act tax provisions
Just last week, the Nebraska Legislature’s Revenue Committee held a hearing on the impact conforming with federal tax provisions in the CARES Act would have on the state’s tax revenues. Revenue Committee Chair Sen. Lou Ann Linehan ended that meeting by stating that decoupling from CARES Act tax regulation was not out of the question....
More businesses may close if Nebraska rejects CARES Act tax changes
This week, senators on the Nebraska Legislature’s Revenue Committee met in Lincoln to discuss the impact of tax changes included in the federal CARES Act. Many of the federal relief plan’s tax provisions are designed to help businesses increase their cash flow during the recession, including expanding the net operating loss (NOL), which will allow...
Nebraska gas tax set for automatic increase July 1
Prices at the pump in Nebraska could be about 4 cents a gallon higher, thanks to an automatic increase in the state’s gas tax set to take effect July 1. Today, the Nebraska Department of Revenue issued the latest figures for the gas tax, which is recalculated twice a year in accordance with state law....
Nebraskans to vote on property tax issues in online town halls
Nebraska voters and taxpayers can make their voice heard on the state’s top tax issue in a series of online events on property tax reform. The Platte Institute’s Virtual Property Tax Town Halls will be held on Zoom. The events are scheduled to run through July and August, as the Nebraska Legislature returns for the...
Senator’s Twitter poll asks about sales tax on streaming services
A recent online poll result on the Twitter account for Nebraska state Sen. Machela Cavanaugh showed overwhelming opposition to the idea of paying sales tax for online streaming subscription services like Netflix, Hulu, and Apple TV. Would you support a Nebraska state 7% sales tax on digital entertainment services? (i.e. Netflix, Hulu, Apple TV, etc)...
Hall County property taxpayers discuss impact of rising valuations
The Grand Island Independent and NTV both reported on Tuesday’s meeting of the Hall County Commissioners, where taxpayers and community advocates expressed their concerns with proposed increases in local property assessments. Property valuations are conducted by county assessors. Their assessments are then multiplied by property tax rates, often called levies, set by locally elected boards...
Sales tax receipts hit harder in most populated Nebraska counties
Despite COVID-19, Nebraska saw an increase in taxable sales revenue for March of 2020. However, urban areas in Nebraska appear to have taken a heavy hit as buyers react to COVID-19 restrictions. Nebraska’s sales tax usually operates as one of the more stable sources of state revenue. That fact is significant when social distancing policy...
Platte Institute discusses transparency for federal funds on KGFW’s Talk of the Town
Platte Institute CEO Jim Vokal joined Ryan Boyd with KFGW Kearney’s “Talk of the Town” to discuss the Platte Institute’s call for creating an inventory of the $10.8 billion in federal funds allocated to Nebraska for COVID-19 relief and the road to recovery in the current recession.
The Economic Impact of COVID-19 on the Nebraska Economy: Third Cut
Dear Nebraskans, Our state and nation have been actively fighting COVID-19 since mid-March. We are getting a handle on the public health aspect of the crisis, yet the economic impact is still being realized as businesses begin to reopen. As more data becomes available, we can start to measure the impact this crisis is having...
The Nebraska Legislature is currently scheduled for a summertime return to its 2020 session, which was suspended due to the COVID-19 emergency. Nebraska Legislature Speaker Jim Scheer says the plan is for senators to return for the final 17 days of legislative business between July 20 and August 13. Prior to the crisis, lawmakers had completed hearings...
A delayed tax filing deadline and closed businesses in Nebraska has resulted in April state tax revenues that are $292 million below previous monthly projections. While this is a very noticeable impact from the pandemic, the data released by the Nebraska Department of Revenue this morning tells us a bit more about our tax code...