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Below is a snapshot of key features of Nebraska's tax system. (Scroll Down)
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State & Local Revenue (FY08)
- General Revenue, Own-Source (GROS): $11.3 billion
- General Revenue as a Share of Income: 16.6%
- Tax Revenue: $7.5 billion
- Tax Revenue as Share of income: 11%
- Personal Income Tax (Share of Tax Revenue): 23% (29 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 3.1% (32 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 33.1% (28 out of 51)
- Property Tax (Share of Tax Revenue): 33.1% (17 out of 51)
- Other Taxes (Share of Tax Revenue): 3.7% (21 out of 51)
Personal Income Tax Features (2011)
- Range of Tax Rates: 2.56% - 6.84%
- Standard Deduction: $5,800 ($11,600 for Married Couples)
- Personal Exemption: Credit= $118 (2010)
- Dependent Exemption: Credit=$118 (2010)
- Earned Income Tax Credit (EITC): 10% Refundable
- Personal exemption is available as a credit
Corporate Income Tax Features (2011)
- Range of Tax Rates: 5.58% - 7.81%
- Income Level at Which Top Rate Applies: $100,000
- Combined Reporting: Yes
- Apportionment Factor (Payroll): 0%
- Apportionment Factor (Property): 0%
- Apportionment Factor (Sales): 100%
Sales Tax Features (2011)
- State Sales Tax Rate: 5.50%
- Average Local Sales Tax Rate: 0.50%
- Average Combined State & Local Sales Tax Rate: 6.00%
- State Sales Tax Treatment of Groceries: Exempt
- Local Sales Tax Treatment of Groceries: Exempt
- Number of Services Taxed: 30 out of 168 surveyed
- Streamlined Sales Tax Membership: Full
Property Tax Features (2011)
- Levies a car tax.
- Does not provide a meaningful homestead exemption or circuit breaker for non-elderly taxpayers.
Other Tax & Revenue Features (2011)
- Gasoline Tax Rate (per gallon): $0.273
- Diesel Tax Rate (per gallon): $0.267
- Cigarette Tax Rate (per pack): $0.64
- Estate or Inheritance Tax: Yes
- Net Lottery Sales Per Capita: $60
Tax Policy Oversight
- Tax Expenditure Report: Yes
- Tax Incidence Analysis Capability: Multiple taxes
Last Updated August 25, 2011
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