§ 77-2101.03 — Tax; calculation

Nebraska § 77-2101.03

• Jurisdiction: Nebraska
• Ch. 77: Revenue and Taxation

Text

(1) For decedents dying on or after January 1, 2003, and before July 1, 2003, the tax on the Nebraska taxable estate shall be the greater of the maximum state tax credit allowance upon the tax imposed under Chapter 11 of the Internal Revenue Code or the amount provided in the following table:
Nebraska taxable estate



Of Excess


At least
But less than
Tax =
+
%
Over


$0
$40,000
$0

0
$0


40,000
90,000
0

.8
40,000


90,000
140,000
400

1.6
90,000


140,000
240,000
1,200

2.4
140,000


240,000
440,000
3,600

3.2
240,000


440,000
640,000
10,000

4
440,000


640,000
840,000
18,000

4.8
640,000


840,000
1,040,000
27,600

5.6
840,000


1,040,000
1,540,000
38,800

6.4
1,040,000


1,540,000
2,040,000
70,800

7.2
1,540,000


2,040,000
2,540,000
106,800

8
2,040,000


2,540,000
3,040,000
146,800

8.8
2,540,000


3,040,000
3,540,000
190,800

9.6
3,040,000


3,540,000
4,040,000
238,800

10.4
3,540,000


4,040,000
5,040,000
290,800

11.2
4,040,000


5,040,000
6,040,000
402,800

12
5,040,000


6,040,000
7,040,000
522,800

12.8
6,040,000


7,040,000
8,040,000
650,800

13.6
7,040,000


8,040,000
9,040,000
786,800

14.4
8,040,000


9,040,000
10,040,000
930,800

15.2
9,040,000


10,040,000

1,082,800

16
10,040,000
(2) For decedents dying on or after July 1, 2003, and before January 1, 2007, the tax on the Nebraska taxable estate shall be the greater of the maximum state tax credit allowance upon the tax imposed under Chapter 11 of the Internal Revenue Code or the amount provided in the following table:
Nebraska taxable estate



Of Excess


At least
But less than
Tax =
+
%
Over


$0
$100,000
$0

5.6
$0


100,000
500,000
5,600

6.4
100,000


500,000
1,000,000
31,200

7.2
500,000


1,000,000
1,500,000
67,200

8
1,000,000


1,500,000
2,000,000
107,200

8.8
1,500,000


2,000,000
2,500,000
151,200

9.6
2,000,000


2,500,000
3,000,000
199,200

10.4
2,500,000


3,000,000
3,500,000
251,200

11.2
3,000,000


3,500,000
4,000,000
307,200

12
3,500,000


4,000,000
5,000,000
367,200

12.8
4,000,000


5,000,000
6,000,000
495,200

13.6
5,000,000


6,000,000
7,000,000
631,200

14.4
6,000,000


7,000,000
8,000,000
775,200

15.2
7,000,000


8,000,000
9,000,000
927,200

16
8,000,000


9,000,000

1,087,200

16.8
9,000,000
(3) Taxable generation-skipping transfers shall be taxed at a rate of sixteen percent of the Nebraska taxable transfer.

Legislative History

Source: Laws 2002, LB 905, § 4; Laws 2003, LB 283, § 2; Laws 2003, LB 759, § 2; Laws 2004, LB 1034, § 1; Laws 2007, LB367, § 8.