Nebraska Creates Grow the Goodlife Act, Provides Income, Withholding Tax Credits

The Nebraska Governor signed a law concerning revenue and taxation. The law includes: 1) creating the Grow the Goodlife Act; 2) providing qualified taxpayers wage retention tax credits under the act; 3) providing that wage retention credits can be used again income taxes or withholding taxes; 4) providing that the credits equal 5 percent of total compensation paid by an employer to all Nebraska retained employees who are paid wages at a rate equal to at least 100 percent of the statewide average hourly wage for the year of application; and 5) providing that credits can be used only during ...