Individual Income Tax Rate Change
The highest rate for the Nebraska taxable income is reduced to 5.20%.
What's new for credits?
Affordable Housing Tax Credit Act
The definition of taxpayer was updated to include nonprofit corporations as taxpayers eligible for the credit.
Cast and Crew Nebraska Act
Beginning with tax year 2025, a production company may be eligible to receive refundable income tax credits equal to 20% of the qualifying expenditures incurred by the production company directly attributable to a qualified production activity.
Intellectual and Developmental Disabilities Direct Support Professional Tax Credit
Beginning with tax year 2025, direct support professionals may be eligible for a $500 refundable credit.
Nebraska Pregnancy Help Act
Beginning with tax year 2025, individuals and entities that make cash contributions to pregnancy help organizations approved by DOR as eligible charitable organizations (approved PHOs) during the taxable year may qualify for a nonrefundable tax credit.
Creating High Impact Economic Futures (CHIEF)
Effective January 1, 2025, the Community Development Assistance Act is replaced by the CHIEF Act. Individuals and entities that contribute to Community Betterment organization programs or projects certified for tax credit status by the Nebraska Department of Economic Development during a tax year are eligible for the nonrefundable credit. The contributions must be made after January 1, 2025.
Additional Information
For the full list of changes, see the Nebraska booklet.