Bill to lower Nebraska’s corporate income tax stalls
LINCOLN, Neb. (AP) — A bill that would have lowered Nebraska’s top corporate income tax rate is dead for the year but could return in the 2020 legislative session.
The sponsor, Sen. Lou Ann Linehan, of Omaha, asked the legislative speaker Thursday to put a hold on the bill for possible debate next year. The request came in the waning days of this year’s session.
The bill would have paid for the tax cut by collecting income taxes from out-of-state corporations that impose fees on their local franchisees. It also would have reinstated the Nebraska additional tax, which forces high-income earners to pay the top tax rate on all of their income.
Nebraska’s top corporate income tax rate is 7.81%. The bill would have matched it to the top individual rate of 6.84%.