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...
Nebraska’s state tax revenues remain above projections as the state continues its rebound from the COVID-19 pandemic. According to the most recent Nebraska Department of Revenue news release, gross revenues for the month of May 2021 were $892 million or 72.6% above the certified forecast. Net revenues for the month were $720 million, which is...
As summer begins and finalized property valuations land in many Nebraska mailboxes, county assessors can take an undue share of the blame for what looks to be an unavoidable—and sometimes major—increase in property tax bills. But in a recent Omaha World-Herald letter to the editor, Douglas County Assessor and Register of Deeds Diane Battiato appropriately...
Nebraska has more jobs available than people to fill them. That can make job creation seem like an unimportant issue for the state. But for Nebraska to grow and meet its workforce needs, it needs to offer economic opportunities for people from all walks of life and all communities. Recent census figures show Nebraska trails...
Thanks to a comprehensive tax reform bill (SF 619), Iowa has successfully set a date for repealing its inheritance tax. Iowa will phase down the tax by 20% each year until it is repealed in 2025, leaving only 5 states in the nation left with an inheritance tax. Among them, Nebraska has the highest rate...
Former Nebraska state Sen. Jim Smith is joining the Platte Institute as its new Executive Vice President and Chief Strategy Officer. He discusses his past work at Blueprint Nebraska and how its initiatives are being carried over to the Platte Institute. You can watch the video on YouTube here or listen to the podcast episode on...
The first session of the 107th Nebraska Legislature has adjourned Sine Die, concluding regular legislative business in Lincoln until 2022. Now that all the legislating (except the forthcoming special session on redistricting) is complete, let’s summarize some of the ways senators expanded economic opportunities and freedoms for Nebraskans in 2021. During the session, the Platte Institute weighed...
Former Nebraska state Sen. Jim Smith, of Papillion, will join the staff of the Platte Institute as the organization’s Executive Vice President and Chief Strategy Officer. Smith serves as President of Blueprint Nebraska, a statewide visioning process for Nebraska’s growth, competitiveness, and prosperity. Before leading Blueprint, Smith served two terms in the Nebraska Legislature, representing...
Do you ever wonder why Nebraska doesn’t seem to have its act together when it comes to taxes? Politicians want you to think it’s a red or blue problem. It’s not. It’s a lack of vision problem. That’s why I’m sharing the five essential steps to reform Nebraska taxes. Stay tuned until the end to...
Nebraska is no stranger to business incentives. Starting in 1985 (LB273), Nebraska embarked on a long journey of business incentives in an attempt to lure companies to the Cornhusker State as well as promote job creation. Over the last 35 years there have been many central programs in the state’s history including the Employment and...
The hospitality industry was one of the hardest hit during the COVID-19 pandemic, leading many states including Nebraska to allow restaurants and bars to sell cocktails and/or spirits to-go to generate more revenue. Today, state lawmakers gave final approval to a bill making that temporary regulatory relief measure a permanent policy in Nebraska, along with...
Today, the Legislature passed Sen. Ben Hansen’s LB644 – often referred to as “the postcard bill” in the Legislature. When it’s signed into law, Nebraska will be the third state to adopt a comprehensive Truth in Taxation law, which requires direct notification of property taxpayers, by mail, about proposals for local property tax increases. As...