Nebraska Governor Signs Law Enacting Relocation Incentive Act, Providing Income Tax Credits

The Nebraska Governor signed a law which enacts the Relocation Incentive Act, and changes provisions relating to certain business deductions, nonresident income, incentives under the ImagiNE Nebraska Act, and occupation taxes. The Relocation Incentive Act provides tax credits to employers that pay relocation expenses for new employees moving to Nebraska who earn between $70,000 and $250,000 annually. The law allows a 50% refundable income tax credit on relocation expenses up to $5,000 per employee. It also allows new employees moving to Nebraska to exclude their Nebraska wages from state income tax for two years if they earn between $70,000 and ...