Nebraska state government just posted its first revenue report for the new 2021-2022 fiscal year and the results are positive. Net revenues for the month of July were above the forecasted amount by 3.2% or $10 million. All major tax sources posted collections ahead of projections except for the personal income tax, which was 26.5%...
It’s budget time for Nebraska local governments, and that’s when members of the public get to attend local hearings to share their comments regarding the spending plan of their communities. Two local governments in Nebraska have recently announced their budget and held their public hearings on their spending plans: the City of Omaha and Douglas...
Most people take for granted that the sales tax is the tax we pay when we buy things. But if you look carefully at your receipts, you’ll begin to notice most of the things you buy in Nebraska don’t have sales tax collected on them. This is also known as a sales tax exemption. On...
Nebraska Angels Executive Director Steph Luebbe discusses the growth of angel investing in Nebraska and the resources available for firm founders and aspiring entrepreneurs. You can watch the video on YouTube or listen to the podcast episode on Apple Podcasts or Spotify. A transcript of the interview is available below. Mentioned on this episode: Nebraska Angels Invest Nebraska Jim...
The Nebraska Department of Revenue has released the June 2021 state tax revenue report. This report is especially important because it includes figures for the last month of the fiscal year, which runs July 1 to June 30. For the month of June, all major tax categories were above the forecasted amount for both gross...
A report titled “Doing Business in North America” was published by the Center for the Study of Economic Liberty at Arizona State University. This study focuses on business regulations across the United States, Canada, and Mexico. Interestingly, this study’s ranking is based on cities, and Omaha and Lincoln are included in the index. These types...
A new nonprofit journalism outlet will help to fill gaps in Nebraska’s media market by telling statewide stories and improving government transparency. Former USA Today and Omaha World-Herald data journalist Matt Wynn discusses the launch of The Flatwater Free Press. You can watch the video on YouTube or listen to the podcast episode on Apple Podcasts or Spotify. A...
The Nebraska Department of Revenue tracks historical property valuations for each of Nebraska’s 93 counties. Overall, there are three major categories of property that are tracked: residential, commercial, and agricultural. All three experienced growth over the last decade. Most notably, agriculture valuations grew almost twice as much as residential property values. The interactive maps below...
Every state has a peer group they look to. Typically, it includes neighboring states. In Nebraska’s case, Missouri is a comparable peer. Some of the attributes we might look at are Missouri’s similar agricultural economy, but also their much lower property taxes. But when it comes to economics and growth, even states that are not...
An article in the New York Times today suggests that the Biden administration is looking carefully at issuing an executive order aimed at “increasing competition in the labor market.” The order would address the issue of both noncompete agreements and of unnecessary occupational licensing restrictions. Arguably, both of these things prevent workers from looking for...
Summer is a great time to indulge in good book. Whether sprawled out on a blanket under a shade tree, lounging by the pool, or passing the hours on a road trip to a vacation destination, it’s easy to get absorbed in a compelling read. Americans will soon celebrate Independence Day on the 4th of...
Starting today, Nebraskans will be paying slightly less tax on a gallon of gas. Every six months, the state Department of Revenue reevaluates the motor fuel tax. The overall gas tax is decreasing from 28.7 cents per gallon to 27.7 cents per gallon. This comes after a 4.5 cent decline at the beginning of the...
Update: On November 13, 2021, Louisiana voters approved Amendment 2, adopting the proposed income tax reduction. Traditionally, Louisiana has severely lagged behind other states in the area of tax policy, consistently ranking in the bottom ten states on the Tax Foundation’s State Business Tax Climate Index. However, Louisiana’s state legislature recently passed an impressive tax...
The property tax transparency law called Truth in Taxation is new to Nebraska, but a similar law has been on the books in Utah since 1985. Two Utah-based experts, Rusty Cannon of the Utah Taxpayers Association, and former Utah state Sen. Howard Stephenson, join Jim to discuss how the policy has worked in the Beehive...