Do you think Nebraska taxpayers would like to pay $1 billion more in taxes each year? Unfortunately, some groups and policymakers in our state have pushed for this without many people even knowing about it. That’s why experts at the Platte Institute go down to the Capitol to testify against expensive policies threatening economic opportunity...
The U.S. Treasury has issued guidance as a follow-up to the American Rescue Plan Act (ARPA) that was enacted by Congress on March 11, 2021. As background, Congress enacted ARPA as a continuation of their previous relief packages to help the nation recover from the COVID-19 pandemic. In total, there was $350 billion spent for...
According to the 2020 U.S. Census figures, Montana grew 9.6% over the last ten years, and as a result has gained an additional congressional seat. The last time the state had two U.S. House seats was in 1992. In the wake of the good news, Montana Gov. Greg Gianforte decided it is time to continue...
In an attempt to create compromise between the Iowa House and Senate, Governor Kim Reynolds offered a plan on Wednesday, May 5 to cut taxes in the Hawkeye State by $400 million. How is she doing this? She has proposed shifting the funding for county mental health from local property taxes to the state’s general...
If you listened to the Nebraska Legislature debate today you would have heard the following quotes from multiple members: “Our tax code is antiquated and was written in a time before the internet existed and before people and businesses were as mobile as they are today.” “People are mad about their property taxes.” “Nebraska can...
Platte Institute Senior Fellow Laura Ebke joined Bud Synhorst of the Lincoln Independent Business Association to discuss Nebraska’s progress on job licensing reform and an advancing property tax transparency measure.
Sarah Curry joins Jim Vokal to discuss a week full of tax policy-related proposals in Lincoln. Mentioned on this episode: Nebraska forecasting board increases two-year revenue projections LB644: Truth in Taxation – Direct Notification of Property Tax Increase Hearings
Nebraska’s Economic Forecasting Advisory Board met today to confirm the state’s positive outlook on tax collections. Because the state of Nebraska operates under a biennial, or two-year budget, the forecasting board only holds it April meeting every other year. Their annual meetings occur in October and February. This meeting was different from most because of...
Jo Ellen Stock, Assistant Vice President of State and Local Taxes for Union Pacific, and Lori Scott, an Omaha-area philanthropist with a background in education and health care, have been elected to the Platte Institute’s board of directors. The board of directors currently has 11 members who are responsible for overseeing the organization’s mission and...
April is a very important month in the government world. Typically, that is when the tax filing deadline occurs, and budget writers get to see if the state collected as much tax revenue as they anticipated. However, this has been slightly altered for 2021, with Nebraska electing to extend the filing deadline to May 17, 2021...
GILTI stands for Global Intangible Low-Taxed Income. GILTI is a category of income that is earned abroad by U.S.-controlled foreign corporations and is subject to special treatment under the U.S. tax code, as well as states that levy a corporate income tax. This special treatment of foreign earned income is intended to prevent erosion of...
Joe Bishop-Henchman is no stranger to Nebraska tax issues. He discusses his new role at the National Taxpayers Union Foundation, where he’s challenging federal authorities who may seek to limit Nebraska’s control over its own tax and budget policies. Mentioned on this episode: Letter: NTU Requests Clarification on State Tax Provision in American Rescue Plan...
LB644, otherwise known as a Truth in Taxation bill, passed first round debate in the Nebraska Legislature, 36-1. Nine members were “present not voting.” The legislation moves Nebraska one step closer to providing more taxpayer engagement and transparency when local governments increase their property tax request. Under an approved amendment, LB644 will apply only to a county, city,...
While our state and nation continue to recover from the COVID-19 pandemic’s impact on our economy, it is clear that Nebraska’s sales tax is a contributing factor to the state’s resiliency. Sales tax data released by the Department of Revenue gives us an itemized list of each city and county and their net taxable sales...