Observations all along the line - Kimball & the Southern Panhandle First
Observations all along the line - Kimball & the Southern Panhandle First
Changes Made To This Tax In Nebraska, But Should It Even Be Around?
On Jan. 1, the inheritance tax that Nebraskans pay was reduced from the highest category of 18% to 15% – but the actual final percentage one pays depends on the relationship to the deceased.
The closer the relative, the lower the rate. And 15% is the cap.
The Unicameral also increased the exemption amount from $10,000 to $25,000. Additional changes include anyone under 22 years old will not pay Nebraska’s inheritance tax at all.
Nebraska is one of only five states that still have a state inheritance tax. According to CEO Jim Vokal of the Platte Institute, “Forty-five other states don’t like it...