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Governor Heineman Signs Tax Cut Measures
(KLZA) Nebraska Gov. Dave Heineman has signed three tax-cut measures into law, calling them small but important steps toward an improved state tax climate.
The Republican governor approved the bills Monday alongside 11 state senators who played a role in passing them.
One measure would eliminate an alternative minimum tax imposed by the state, and allow businesses to spread financial losses over a 20-year period when filing, instead of the current five.
Another bill would allow higher tax deductions for residents who are making contributions to a state-sponsored college savings program. A third bill would declare employee stock ownership plans as corporations, allowing individual shareholders to exclude dividends and capital gains from their taxable incomes.
The bills were signed as lawmakers prepare for a legislative study of Nebraska's tax system.
© Associated Press
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