Tax proposals taking shape in Nebraska Legislature
LINCOLN, Neb. (AP) — A package of tax proposals is taking shape as Nebraska lawmakers prepare for a new session next year.
The Lincoln Journal Star reports (http://bit.ly/HR30Kk ) that the Legislature's Tax Modernization Committee came to some agreement on Tuesday on measures to seriously consider when the Legislature reconvenes.
The tentative package could include about $90 million in tax relief options over two years. It could be paid for by taxing some services.
Other ideas include indexing the state's income tax brackets to account for inflation and adjusting Social Security thresholds for income tax purposes. Lawmakers are looking at creating a refundable energy tax credit. They also might try to exempt agricultural equipment repairs and replacements from the state sale tax.
Information from: Lincoln Journal Star, http://www.journalstar.com
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