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May 18, 2022 Last Edit: June 5, 2025
The 2022 Legislature in Nebraska adopted meaningful tax relief for small business owners
Nebraska’s 2022 Legislative Session Highlights
- Reduces individual and corporate income tax maximum rates to 5.84% over a five-year period
- Provides income tax credits for property taxes paid to community collages
- Increases total income tax credits provided for property taxes paid to local schools to $548 million in 2022 and $567 million in 2023
- Completely phases out income taxes on Social Security benefits.
- $30 million dollars in rural workforce housing grants
- $20 million in middle-income workforce housing grants
- $20 million to increase employer and student participation in the Intern Nebraska Program
State:
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