LUTZ STATE AND LOCAL TAX BLOG

Iowa Income Tax Update + HF2317

Iowa Income Tax Update + HF2317

Governor Kim Reynolds signed the House File 2317 into law on March 1, 2022. Most notably, it included income tax rate reductions…

Nebraska Income Tax Update + LB873

Nebraska Income Tax Update + LB873

Nebraska Governor Pete Ricketts signed Legislative Bill 873 on 4/13/22. The bill intends to lower state income tax rates, add refundable…

Nebraska Capital Gains Exclusion

Nebraska Capital Gains Exclusion

Nebraska’s special capital gains exclusion was adopted in 1987 as part of the Employment and Investment Growth Act. This allows…

Nebraska Taxation of Military Retirement Pay

Nebraska Taxation of Military Retirement Pay

Beginning with tax year 2022, Nebraska will allow an exclusion of 50% of military retirement pay from Nebraska taxable income.  This change is the result of LB 153, enacted by the 2020 Nebraska Legislature

Nebraska Microenterprise Tax Credit

Nebraska Microenterprise Tax Credit

Do you own a Nebraska based small business? By small business, we mean five or fewer full-time equivalent employees. If so, you may be eligible for Nebraska’s Microenterprise Tax Credit…

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