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Friday, September 20, 2024 at 9:25 AM

Straight Talk from Steve

Our broken tax system

Nebraska’s tax system is broken and cannot be fixed.

Whether it is the Nebraska State income tax, the State sales tax, the property tax, or the inheritance tax, each of these taxes is beyond repair.

The State individual income tax is too complex for the average citizen to understand. In order to show this, consider this instruction from the Nebraska Department of Revenue’s own website: “Taxpayers whose federal adjusted gross income is larger than the threshold amount determined under section 68 of the Internal Revenue Code (IRC) will recalculate their tax on taxable income by multiplying the maximum tax rate by ten percent of the excess amount above the section 68 threshold and subtracting from the result the amount of tax from the tax table.”

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