Tax Reform Measure Headed To Final Vote

By: Associated Press Email
By: Associated Press Email

A Nebraska tax measure that could benefit high-tech start-up companies and uninsured medical patients is headed to a final vote in the Legislature.

Lawmakers gave second-round approval Thursday to a bill that would repeal Nebraska's alternative minimum tax, and allow businesses to spread losses over 20 years to reduce their state tax burden.

Sen. Paul Schumacher of Columbus says Nebraska is one of only nine states that still impose the alternative minimum tax. He says it hurts residents with high medical bills that are tax-deductible.

Lincoln CPA John Cederberg says the measure may not be enough to positively attract new businesses, but it will eliminate a negative factor. Cederberg says the measure will improve Nebraska's tax ranking, a top priority of Gov. Dave Heineman.

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