Nebraska’s Revenue Committee advanced an amendment to LB 754 out of committee on a 7-1 vote last week, bringing Gov. Pillen’s income tax reform plan to the full Unicameral for debate. The bill is a tour de force of income tax reforms. The individual and corporate income taxes are both overhauled by the bill, with...
Nebraska lawmakers took a key step towards historic tax reform last week. Revenue Committee lawmakers voted to consolidate several tax reforms into LB 754 and to advance the tax package out of committee on Thursday, March 16. Nebraska’s legislative progress comes not a moment too soon, as major tax reform proposals are advancing across the...
Nebraska has one of the most aggressive regimes for taxation of non-resident income in the country, according to new rankings from the National Taxpayers Union. While raising tax revenues from non-Nebraskans might seem like found money, it also ensures that many non-Nebraskans will never visit Nebraska for work purposes. Tax compliance is heavy for remote...
Nebraska’s Revenue Committee is advancing a broad overhaul of the state’s tax code. These reforms, if enacted, would bring the Cornhusker State in line with the ongoing state tax revolution. During the post-pandemic era, states are turning away from progressive tax structures and creating lower, flatter income taxes. And mobile workers are moving towards states...
Mississippi lawmakers advanced legislation to enact full expensing this week, with separate bills passing in the legislature’s House and Senate. H.B. 1733 passed Mississippi’s House on an overwhelming 112-3 vote, while S.B. 3101 passed the Senate on a 51-0 vote. The bills both make full expensing the permanent tax treatment for qualifying investments in both...
This year marks the fourth consecutive legislative session that the Nebraska Legislature has heard and considered significant workforce licensing reform. The Platte Institute was engaged actively in that topic as early as 2016. LB16 was introduced by Senator Tom Briese and contains two main elements: universal recognition of licenses from out-of-state and a “fair chance”...
Nebraskans are more reliant on broadband connectivity now than ever. Connectivity is important for people accessing government services, online banking, education, health care, and remote work. Connectivity is important to Nebraska’s largest industry – agriculture. Nebraska’s farmers and ranchers need access to agricultural technologies to increase yields and conserve resources. Small businesses are also very...
At the writing of this blog, the 108th Nebraska Legislature is entering the 7th week of its 90-day session. A massive 812 bills were introduced in the first 10 days of the new session, each receiving a public committee hearing before full-day floor debates begin. Striking this year is the attention the Governor and legislative...
In recent years, states around the country have started experimenting with different methods of voting. Ranked Choice Voting. Instant Runoff Voting. Open Primaries. Approval Voting. All of these methods of voting are being proposed or experimented with in an assortment of configurations in different jurisdictions. From local elections to statewide elections; from primary elections to...
A recent story about Geraldine Tyler in Reason went something like this: 94-year-old Tyler fell behind by $2300 on her property taxes. Interest and fees came to $15,000. The government foreclosed, sold the home for $40,000, and kept the remaining $25,000. Right or wrong, most of us know that government can seize property to collect...
High Resolution Downloadable Study Here. Introduction Nebraska’s property tax burden is the central issue in the state’s tax debate. Property taxes are high and unevenly distributed, making it hard to develop clean solutions for direct tax reduction. Indeed, legislative action in the last several sessions shows that Nebraska lawmakers are working to tame the state’s...
Nebraska levies the 18th-highest corporate income tax rate in the country in 2023, according to a new compilation of state corporate rates from Tax Foundation. The Cornhusker State’s top corporate rate was reduced from 7.5% to 7.25% on January 1st, making Nebraska’s top rate equal to New York’s at #18. Nebraska is one of...
The state flat tax revolution marches on in 2023. Arizona, Idaho, and Mississippi each inaugurated a flat-rate income tax on January 1st, expanding the count of states that opt for a single-rate income tax structure. Massachusetts, on the other hand, moved in the other direction by abandoning its decades-long protection of a flat tax system....
Nebraska’s Legislature will consider major tax reform proposals to slash income and property taxes in 2023. Historic revenue surpluses provide lawmakers a rare opportunity to dramatically cut income and property tax rates, improving the state’s friendliness for both families and firms. Yet one key tax reform can be enacted for “free.” LB 492, introduced by...