Topics:
February 2, 2023 Last Edit: June 5, 2025
NFIB urges lawmakers to support LB 754
Tax Reform Debate Begins as Small Businesses Call for Relief
LINCOLN (Feb. 2, 2023) – Small business owners across the Cornhusker State are urging lawmakers to support LB 754, which would cut Nebraska’s top corporate rate of 7.25% to 3.99% over the next five years.
Following his testimony before the Revenue Committee, NFIB State Director Bob Hallstrom said:
“With the largest budget surplus in our state’s history, now is the time to give Nebraskans tax relief. Transforming the tax code with a low flat tax rate will not only give the Cornhusker State a competitive edge, but allow more job creators to invest in their employees and expand their operations. What’s good for Main Street is good for all Nebraskans, and we’ll continue to work with lawmakers to make tax relief a reality.”
Background:
According to the Tax Foundation, Nebraska’s top corporate income tax rate is on equal footing with that of New York – with both states levying the 18th highest rate in the country.
State Sen. Lou Ann Linehan (Omaha) introduced LB 754 which would cut the top individual and corporate income tax rates to 3.99 percent by 2027. The reduction of the individual and corporate income rates would be phased in gradually over five years, and provide an estimated $720 million in relief.
State:
Get to know NFIB
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
Related Articles

July 14, 2025
NFIB: Alabama Sales Tax Holiday Could Be a Boon to Main Street…
This year’s tax-free weekend is July 18-20.
Read More

July 14, 2025
Reminder: 2025 Ohio Sales Tax Holiday Extension
Ohio’s sales tax weekend extends to two full weeks in August
Read More

July 14, 2025
New Jersey Capitol Update
NFIB strongly opposed hundreds of millions of dollars in new taxes for a st…
Read More

July 10, 2025
Historic Legislation Becomes Law and Stops Massive Tax Hike on…
The One Big Beautiful Bill Act is signed into law, permanently extending th…
Read More