Nebraska lawmakers begin 2023 in the midst of a wave of state tax cuts. Most importantly for local families and firms, Nebraska’s individual income tax rate dropped from 6.84% to 6.64% on January 1, and the corporate rate fell from 7.5% to 7.25%. Nebraskans should have more to cheer about in 2023, as influential lawmakers...
As we prepare for the new legislative session, Nebraska’s facing a substantially changed landscape in the Unicameral. There are 16 new state senators, which is nearly one in every three legislative seats. In addition, our governor’s office is transitioning and a wave of retirements is occurring for legislative employees responsible for the important behind the...
The elections are over, and Nebraskans now know who will be representing them in the Nebraska Legislature. People run for public office for a variety of reasons. For many, the decision is because they want to make a difference and help others. For some, they feel that elected officials currently serving have let them down....
Nebraska ranks 39th in the country for property tax competitiveness. How do we modernize our tax policy to keep and attract more people? Today, we’re talking about the future of Nebraska’s tax policy and how we compare to other states. Given the changes in the economy, states are competing to keep their current population and...
We are happy to share with you our 2022 Cottage Food Holiday Guide. The guide contains the offerings and contact information for over 80 Nebraska cottage food producers. These producers are a fraction of the over 1000 individuals who are now registered to operate cottage food businesses in Nebraska thanks to LB304. In 2019, the...
In 2022, the State of Nebraska made it easier for taxpayers to get involved in the process of how local property tax increases are decided, with the adoption of Truth in Taxation. For the first time ever, taxpayers had complete information about which tax entities were seeking major tax hikes, and where they could go...
What to do with Nebraska’s surging tax revenues is a problem every policymaker would like to face. Nebraska legislative leaders have already pointed to the best solution. Senator Lou Ann Linehan, who chairs the Revenue Committee, argued that the surplus revenue “has to go back to the taxpayer.” The best way to do that, Sen....
Today, we’re talking about transparency in government and the need to post legislative debate and hearings online. Nicole Fox, Director of Government Relations at The Platte Institute and a former Nebraska State Senator, shares her unique perspective of policy making from a variety of angles. Currently, Nebraska Public Media live streams Unicameral floor debates and...
In 2019, the Platte Institute worked with Senator Sue Crawford to pass the Nebraska Cottage Food Law. LB304 created a registration framework allowing in-home producers of shelf-stable foods to sell their products legally beyond farmers’ markets. This opened up the opportunity for year-round sales and delivery–from the kitchen or via mail order or personal delivery....
Nebraska’s income tax was created in the Nebraska Revenue Act of 1967 and has been applied to both individuals and corporations since its creation. The income tax was increased soon after it was created, and it evolved into a less competitive structure over its first few decades. Nebraska policymakers took steps to improve the competitiveness...
Nebraska was one of the last states to adopt a sales tax, allowing the Cornhusker State to benefit from the decades of sales tax experience in other states. Nebraska policymakers can once again fuse their knowledge from decades of sales tax experience with the principles of sound taxation to update Nebraska’s sales tax for the...
Nebraska’s property tax is older than the state itself, and old taxes benefit from being updated as the state economy evolves. Property taxation was first instituted in 1857, under a territorial legislature, and then became a statewide tax when Nebraska achieved statehood in 1867. Nebraska leaders have iteratively updated the property tax system throughout the...
Missouri Governor Mike Parsons signed a tax reform package into law on Wednesday, October 5th, improving Missouri’s individual income tax. Senate Bills 3 and 5 will advance the Show-Me State towards a lower, flatter income tax structure by enacting near-term rate cuts with more rate cuts scheduled for coming years. The tax cuts will result...
Governor Pete Ricketts held a press conference on September 15th to encourage Nebraskans to claim their property tax credits. The Department of Revenue’s website has the relevant documents, here, for Nebraskans who have not yet claimed their credits. Taxpayers can claim a credit worth up to 30% for their school property taxes paid, depending on...