Monday, February 4, 2013

Nebraska Governor Latest To Embrace No Income Taxes

Following on the heels of fellow Republican Governors Scott Walker (WI) and our own Bobby Jindal, Nebraska Governor Dave Heineman is proposing to eliminate the state’s personal and corporate income tax.

In his “State of the State” speech, Governor Heineman says, “Taxes are too high in Nebraska.” He also laments Nebraska’s mediocre tax burden ranking – Nebraska has the 35th highest personal income tax rate and ranks 31st in Business Tax Climate.
Nebraska collects almost $2.4 Billion in income taxes and about $1.6 Billion in state sales taxes. As is the case in Louisiana, Nebraska provides extremely generous sales tax exemptions. In fact, the state offers $5 Billion in sales tax exemptions, three times more than it collects in sales taxes.

Here's a link to the Governor's speech.