In the past, Nebraska’s main property tax relief program appeared automatically on your property tax bill. While that program will continue, to benefit from the income tax credit provided to property taxpayers in the Nebraska Property Tax Incentive Act, you need to make sure you’re filing the right form (Form PTC) when you submit your...
Nebraska state Sen. Anna Wishart has introduced a bill to make Nebraska a more inviting state for innovative entrepreneurs and startups. LB1127 would establish what is known as an industry agnostic or all-inclusive regulatory sandbox in Nebraska. What is a regulatory sandbox, and how does it work? Regulatory sandboxes are gaining momentum in many industries,...
Is tax reform a tired trope in Nebraska politics, or do Nebraskans really consider the state’s tax system out of step with their economic concerns? A new Platte Institute poll shows most Nebraska voters do think tax policy is part of the reason the state struggles to compete and grow its workforce, and there’s broad...
Nebraska’s state tax revenues remained above projections overall at the end of calendar year 2021. According to the most recent Nebraska Department of Revenue news release, although miscellaneous tax revenues were 28.5% below forecast, net revenues for December 2021 were $509 million or 7.4% above the certified forecast. December tax refunds were also $6 million...
The Tax Foundation’s Annual State Business Tax Climate Index tracks which states offer the most competitive tax codes. Vice President for State Projects Jared Walczak joins Jim to discuss Nebraska’s unfinished business in 2022. A transcript of this discussion is available below. You can also listen to the audio version of Nebraskanomics on Apple Podcasts...
Nebraska lawmakers are set to debate Sen. Rob Clements’ Legislative Bill 310, which would reduce the inheritance tax levied by county governments. Meanwhile, some legislators are supporting measures to end the inheritance tax altogether, including Sen. Joni Albrecht’s recently filed AM1511, which would phase out the tax by 2028. A December 2021 Platte Institute poll...
What needs to change to make Nebraska a more attractive place to live, work, start a business, invest for the future, and put down roots? Of course, there isn’t one single answer. That’s why today, we’re talking about the many different ways Blueprint Nebraska can help grow the economy by harnessing our strengths, overcoming our...
There’s plenty of reasons people should want to live in Nebraska, and Nebraska’s leaders are now highlighting the state’s strengths and benefits through a new ad campaign entitled, The Good Life Is Calling. The COVID-19 pandemic has pushed families and businesses to rethink a lot of daily life, including where they want to live and...
The chair of the Unicameral’s budget-writing Appropriations Committee joins Jim to discuss the financial picture for Nebraska and the qualities that he’d suggest his colleagues look for in a successor for leading the committee. A transcript of the discussion is available below. You can watch the video on YouTube or listen to the podcast episode on...
Nebraska has fallen in the ranks of the Tax Foundation’s annual State Business Tax Climate Index. In the 2022 Index, Nebraska dropped 2 places in the overall ranking, landing at 35th out of 50, with 1st being the best. Looking at the breakdown, the state ranks best for unemployment insurance tax and sales tax. These tax...
Nebraska’s November 2021 state general fund revenue report shows the state continues to have good news regarding its revenue projections. Net revenues for the month were 7.7% above forecast (approximately $40 million) while the net revenues for the fiscal year are 1.7% above the forecasted amount. The projections in the November release are based upon...
Tom Henning, a Kearney-based food industry executive, serves on the Nebraska Economic Forecasting Advisory Board, which projects how much tax revenue the state will bring in each year. He joins Jim to discuss the latest revenue numbers, how the board uses economic data to make its estimates, and what current economic trends suggest may be...
While the nation sits at a 4.6% unemployment rate, Nebraska’s October unemployment rate again sets a new state and national record for the lowest rate at 1.9%. One year ago, Nebraska’s rate was 3.6%. It is important to note that the number of people unemployed in the state is far below the number of job...
Over the last few months, Nebraska’s tax revenues have been exceeding expectations, and now for the month of October they are meeting expectations. This doesn’t mean the state has slowed in its post-pandemic growth. Just a few weeks ago, the Nebraska Revenue Forecasting Board revised the state’s expected revenue forecast, increasing the total by $475...