Provide an income tax adjustment related to certain federal tax deductions

Summary

The bill revises Section 77‑2716 of the Nebraska Revised Statutes, specifying many items that must be added to or subtracted from a taxpayer’s federal adjusted gross income (or corporate taxable income) for Nebraska tax purposes. It affects individuals, corporations, fiduciaries, partnerships and other entities by changing how interest, dividends, foreign taxes, retirement benefits, education‑savings contributions, and other income items are treated. The changes aim to align state tax calculations with a variety of federal deductions and credits and to provide targeted relief for certain groups.

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