As the 2023 filing season is quickly approaching, we would like to remind you of Nebraska's important tax changes.
What's new for credits?
Nebraska Employer Tax Credit for Employing Convicted Felons - Employers can now receive a nonrefundable credit for wages paid to a previously convicted felon they are employing. The credit is equal to 10% of the wages paid to the employee during the tax year. The credit is limited to $20,000 per employee.
What's new for deductions?
Deduction for health insurance premiums paid by retired firefighters - Starting with tax year 2023, health insurance premiums paid by retired firefighters may be deducted if they were not previously deducted from the federal return.
The requirements for the deduction are as follows:
- The retired individual was employed full time as a firefighter or certified law enforcement officer
for at least 20 years, and - The individual must be at least 60 years of age as of the end of the taxable year the deduction is
claimed.