Change income tax provisions relating to certain income or loss received from S-corporations and limited liability companies

Summary

The bill changes Nebraska’s income‑tax rules by adjusting how federal adjusted gross income is calculated. It removes from Nebraska taxable income the portion of income or loss that comes from S‑corporations or limited‑liability companies that are not tied to Nebraska sources for tax years that began before 2026, and adds several other adjustments for interest, dividends, net operating losses, state tax refunds, foreign taxes, and certain education‑savings contributions. The changes would affect individuals, estates, trusts, corporations and other taxpayers who receive those types of income.

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