Nebraska ~ Sales and Use Tax: Legislature Overrides Veto of Local Rate Increase

The Nebraska Legislature has overridden Gov. Dave Heineman’s veto to authorize an incorporated municipality to impose a local option sales tax at a rate of 1.75% or 2.0%. Previously, the local rate was capped at 1.5%. The proposal must be approved by at least 70% of the municipality’s governing body before it is submitted to voters at a primary or general election. Any tax increase beyond 1.5% will terminate after 10 years or upon the payment of any bonds and any refunding bonds, whichever occurs later. However, if a portion of the rate increase is imposed for the purpose of an interlocal agreement or joint public agency agreement, and the portion is at least one-eighth percent, there will be no termination date for the rate increase. The municipality seeking to impose a local sales tax at a rate exceeding 1.5% must be a party to an interlocal agreement or a joint public agency agreement with a political subdivision within the municipality or the county, creating a separate legal or administrative entity relating to a public infrastructure project.

L.B. 357, Laws 2012, effective July 19, 2012


Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

All stories by: Wolters Kluwer Tax and Accounting