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Nebraska Revised Statutes Chapter 77. Revenue and Taxation § 77-2101.03. Tax; calculation

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 77. Revenue and Taxation § 77-2101.03. Tax; calculation - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-77-revenue-and-taxation/ne-rev-st-sect-77-2101-03/

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