Nebraska lawmakers pass Social Security tax exemption
May 20, 2021
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LINCOLN, Neb. (AP) Nebraskans receiving Social Security income will pay less in taxes on that income each year until it s fully exempt in 2030, under a bill that won final approval from lawmakers on Thursday.
Lawmakers passed the gradual tax phase-out on a 41-0 vote. It now heads to Gov. Pete Ricketts, who s expected to sign it.
The bill by Sen. Brett Lindstrom, of Omaha, would reduce the taxes paid on Social Security income by 5% this year, 20% next year and 30% in 2023. The exemption would continue to grow until it hits 100% in 2030.
Supporters argued that the bill would help ease the tax burden on seniors and make Nebraska attractive compared to neighboring states that don t tax Social Security, including Iowa.
Nebraska Legislature passes bill to phase out state taxes on Social Security
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