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taxes

Nebraska state government collected more tax revenue than expected in June and ended its fiscal year with about as much money as expected. The Nebraska Department of Revenue says it received $509 million in net tax revenue last month, about 3.3% more than the $493 million that had been projected. For the fiscal year that ended in June 30, the state collected a net total of $4.94 billion, which is slightly higher than the $4.93 billion that had been projected.

Pandemic Leads To Record-Setting Fuel Tax

Jun 24, 2020

Nebraska's state motor fuels tax is expected to reach a new record high.  The "Omaha World Herald" reports that starting July 1st, the motor fuels tax will reach 33-point-two-cents per gallon, which marks an increase of nearly four cents.  State officials say the higher tax is needed to offset a loss of revenues to the state road-building fund due to the COVID-19 pandemic.

A bill that would lower Nebraska’s property taxes by shifting more state aid to schools is drawing support from the state’s top agricultural and business groups but opposition from schools that don’t want restrictions on their taxing power and don’t trust the state to maintain its funding. The face-off before the Legislature’s Revenue Committee was a troubling sign for the bill’s prospects, although the committee chairwoman says the proposal was likely to change.

Nebraska Gov. Pete Ricketts says it’s “imperative” that he and lawmakers come up with a way to lower property taxes that can win approval in the upcoming legislative session.

LINCOLN, Neb. (AP) — Nebraska will get an extra $266 million in tax revenue for the state budget between now and June 2021, based on new estimates that could give lawmakers more wiggle room to pay for state government services and cut property taxes.

Members of the Nebraska Economic Forecasting Advisory Board approved the new projections Thursday, citing a strong state economy.

Under state law, about $161 million of that total will flow automatically into the state's cash reserve fund, which is designed for emergencies and one-time expenses.

LINCOLN, Neb. (AP) — Nebraska state government collected more tax revenue than expected in August.

The state Department of Revenue announced Friday that the state received a net total of $462 million last month, which is nearly 5% higher than its official forecast of $441 million.

The department says net sales-and-use and miscellaneous taxes came in higher than expected, as did net corporate and individual income taxes.

Net tax collections are also higher than expected in the current fiscal year that began July 1.

(Lincoln, NE)  --  The Nebraska Department of Revenue is reporting its tax revenue totals for the 2018-to-2019 fiscal year.  The state said it collected about four-point-nine-billion dollars in net taxes.  That's about 180-million dollars more than what was projected.  Governor Pete Ricketts issued a statement saying the state closed out the fiscal year in a strong financial position, and that continued growth sets Nebraska on a path to property tax relief.

LINCOLN, Neb. (AP) — Nebraska state government collected more tax revenue than expected during the fiscal year that ended last month.

The Nebraska Department of Revenue reported Monday that net tax receipts for the year totaled $4.896 billion, which was 3.7% above the official state forecast of $4.72 billion.

The department says net individual and corporate income taxes were higher than expected, as were net sales-and-use and miscellaneous taxes.

Net tax receipts were also higher than projected in June, the last month of the fiscal year.

April 15 will be here before you know it, which is why Bellevue University has teamed up again with the Volunteer Income Tax Assistance (VITA) program and the American Association of Retired Persons (AARP) Tax Care for the Elderly to offer free basic tax filing assistance.

The assistance will be available on Saturdays April 6, 2019, from 10 a.m. to 2 p.m. each Saturday.  The volunteers will meet with clients at the Freeman Lozier Library on the Bellevue University campus.  The library is located at 1028 Bruin Blvd. in Bellevue, Nebraska.  Free parking is available in campus lots near the library.

Associate Professor in the College of Business, Heidi Deden, stops by the KIOS -FM studios to chat with Mike Hogan about the program and the rewarding experience of helping others.  More information can be found at http://www.bellevue.edu/about/media-relations/stories/2019-01-offer-free-tax-filing-help

Filing income taxes can be overwhelming, and not everyone can afford to pay for expert advice to ensure they’re filing accurately and taking full advantage of available tax refunds.  To assist these individuals, the Omaha Earned Income Tax Credit Coalition – a program funded in part by United Way of the Midlands – will oversee five free tax preparation sites in the metro area.

Dr. Brad Ekwerekwu stops by the KIOS-FM studios to chat with Mike Hogan about the type of help, the reasons folks should seek help, and the financial health assistance his organization provides.

In 2017, the EITC alone put approximately $305,000,000 back into the hands of Nebraska residents. 

More information can be found at www.omahaeitc.org or by going to the Facebook site -

https://www.facebook.com/OmahaEITC

LINCOLN, Neb. (AP) — Nebraska state government collected less tax revenue than expected in December.

The Nebraska Department of Revenue reported Tuesday that net receipts for the month totaled $387 million, which is nearly 9 percent below official state estimates of $425 million.

The monthly report says net sales-and-use, individual income and miscellaneous taxes were all below projections. Net corporate income taxes were higher than expected for the month.

LINCOLN, Neb. (AP) — Nebraska Gov. Pete Ricketts is proposing a tax exemption on military retirement pay in an effort to keep retirees from leaving the state.  Ricketts announced Friday that he will propose a bill to exempt half of the benefits paid to all military retirees. The measure would apply to an estimated 14,000 retirees in Nebraska and cost the state an estimated $15 million in lost revenue.

Ricketts says the bill is intended to replace a "clunky" state law that only provides a tax benefit to a smaller subset of military retirees.

Creighton University Holds Annual Tax Clinic

Feb 14, 2018

Creighton University is offering tax assistance for those who need it at no charge.  The Creighton University College of Business is hosting its Volunteer Income Tax Assistance Program throughout the month of February. 

LINCOLN, Neb. (AP) — Nebraska Gov. Pete Ricketts is pitching his property and income tax plan to lawmakers while acknowledging that the package still needs some work.

LINCOLN, Neb. (AP) — A new attempt to reduce Nebraska property tax bills has opened a familiar divide between farm groups that have grown impatient with lawmakers and business groups that want income tax cuts in the mix.

LINCOLN, Neb. (AP) — A proposed new ammunition tax is drawing opposition from Nebraska gun-rights groups, business organizations and advocates for taxpayers and sportsmen.

LINCOLN, Neb. (AP) — Nebraska collected $233 million in net tax revenue in October, right on par with projections.

OMAHA, Neb. (AP) — The Omaha City Council president says he wants the Legislature to disband the Nebraska Tax Equalization and Review Commission or add oversight by elected officials.

LINCOLN, Neb. (AP) — A legislative committee is shifting away from Nebraska Gov. Pete Ricketts' tax proposals and toward alternative solutions as farmers and ranchers clamor for property tax relief.

LINCOLN, Neb. (AP) — Nebraska's tobacco tax could more than double under a bill that is drawing praise from health officials but strong criticism from retailers, grocers and smokers.

LINCOLN, Neb. (AP) — Nebraska state government collected about $14 million less than expected in December.

Nebraska gets top 10 ranking in overall economic health

Dec 22, 2015

Nebraska ranks seventh in the nation for overall economic health, according to a new report.

LINCOLN, Neb. (AP) — Nebraska lawmakers are gearing up for next year's legislative session with a focus on broad-based property tax relief for city dwellers as well as farmers and ranchers.

LINCOLN, Neb. (AP) — Nebraska property owners will soon get a statement in the mail telling them how much money the state has spent to reduce their property tax burden.

BELLEVUE, Neb. (AP) — It will soon cost more to stay in Bellevue hotels.

LINCOLN, Neb. (AP) — A joint legislative committee has failed to reach a consensus on ways to reduce Nebraska's reliance on property taxes to pay for schools.

LINCOLN, Neb. (AP) — Nebraska lawmakers are creating a rough list of suggestions to lower property taxes while paying for schools, but senators still disagree over how to pay for them.

LINCOLN, Neb. (AP) — People who pay taxes on Nebraska land and buildings will get a tax credit of roughly $94 per $100,000 of valuation this year under the new state budget.

LINCOLN, Neb. (AP) — Nebraska state government collected nearly 3 percent more than expected in taxes last month.

LINCOLN, Neb. (AP) — Nebraska lawmakers have kicked off a review of school funding and its impact on local property taxes, an issue that has divided the Legislature in years past.

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