LIBA recently testified on tax cuts at a hearing before the Nebraska Legislature. If you want to research the bill, it’s number LB 1097.
LB 1097’s tax cuts will ease the high tax burden on Nebraskans and Nebraska businesses, increase the competitiveness of Nebraska businesses in today’s mobile economy and grow our tax base.
Nebraska’s current tax code is ranked the 21st most burdensome in the country and is measurably more burdensome than each of the six states sharing borders with Nebraska. Nebraska lags behind these neighbor states in job growth ranking five out of seven for years 2010 through 2012.1 According to Creighton economist Ernie Goss, Nebraska’s relatively high income taxes have played a significant role in slowing the state’s economic growth.2
Nebraska must decrease its tax rate to stay competitive with neighbor states and to retain high and middle income earners. Today’s economy is more mobile than ever before. Many highly skilled workers can perform their jobs from anywhere in the country. This information is not simply anecdotal. This week a Lincoln CPA, Bob Bryant, told us “as a CPA I can verify that the higher income professionals have opportunities to avoid Nebraska taxes by relocating to tax haven locations. In fact we continually consider the state income tax rate when preparing a business expansion, or a retirement plan. When someone can relocate to a tax free state and realize a tax savings in excess of $10,000 per year, Nebraska will continue to have an out migration of higher income taxpayers.”
Economic research cited by University of Nebraska Economists Dr. Thompson and Dr. Anderson finds that economic growth is faster in states with lower tax rates including lower income tax rates.3 The less money employers are paying in taxes the more they have free to invest in their business and into expanding their workforce. Thus, cuts in Nebraska’s income tax will grow the state’s economy and grow Nebraska’s tax base.
Therefore, LIBA supports LB 1097 because cutting Nebraska’s individual and corporate income tax rates will help Nebraska businesses stay competitive, will help retain our state’s most productive employees and will grow Nebraska’s tax base.
1 Ernie Goss,; The Goss Institute for Economic Research; A Nebraska Tax System for the 21st Century: A Critique and Recommendations; p. 10
2 Ernie Goss,; The Goss Institute for Economic Research; A Nebraska Tax System for the 21st Century: A Critique and Recommendations; p. 7
3 Dr. Erick Thompson, Dr. John Anderson; A Tax Modernization Study for Nebraska; University of Nebraska Lincoln Bureau of Business Research; p.16
LIBA New Members
Wellness Inc.
Wellness Inc. is a company that offers environmentally friendly cleaning products and personal care products at affordable prices to the consumer. Our products are made with all natural ingredients and do not contain any harsh chemicals such as bleach or ammonia. Our disinfectant is made with thyme, a natural herb. There are no child proof caps or warning labels on any of our products because they are so safe that we are not required to use them. We ship our products in concentrated form and the consumer adds their own water, which further contributes to the environmentally friendly aspects of our products because harmful gas emissions are reduced by not shipping water. Check out our website at www.customerpresentation.com and enter the password “safer”. You can contact me at: Joe Sweeney, phone (402) 489-8927 or email noavjoe@aol.com for more information.
Tiger Rock Academy
Tiger Rock Academy offers multiple locations in Lincoln & Omaha. Health, fitness, weight loss, personal development and personal safety are just a few of the benefits that families experience. Adults train at Tiger Rock Academy for the great benefits of the martial arts and also to enjoy yoga and the high energy, fun kickboxing classes for weight loss and body sculpting. Families also love seeing their children train, improve and achieve high levels of self-discipline, focus, courage, healthy habits, leadership and an overall reduced fear of failure—all primary factors in children’s success in school and at home. Tiger Rock Academy also offers corporate wellness programs where they provide seminars on personal safety, stress relief, sustainable exercise and nutrition and more for companies who are looking to provide more for their people and reap the benefits of a healthier workforce. For more information call (402) 483-1011 in Lincoln or (402) 334-5425 in Omaha.
Roper and Sons
Roper and Sons is committed to serving the Lincoln community with trust, integrity, and compassion.
Roper and Sons opened its doors in December 1901 when Charles H. Roper began offering funeral services with Charles Beecher at 124 South 13th Street – the point from which streetcars chartered for funerals began their journey down O Street to Wyuka Cemetery. Today, Roper and Sons serves our community through three primary service divisions: funeral services, resource & outreach services and pre-planning services.
Roper & Sons continues to uphold Charles H. Roper’s commitment to serving Lincoln and the surrounding communities as well as keeping the business in the hands of family. We are now managed by Tom Roper and Dean Schneider, along with Bill Roper, Charles “Pooch” Roper and Mark Roper.
Roper and Sons is committed to being the best in the Lincoln area because of our service, unique personalization and commitment to the Lincoln community. Call (402) 476-1225 or visit www.roperandsons.com for more information about Roper and Sons.
Wolf Professional Realty
Wolf Professional Realty PC is a local, family-owned and operated real estate company. They are full time professional realtors who focus on client satisfaction while treating buyers and sellers with the professionalism and respect they deserve. From 2000 to 2010 Dick, Pat and Scott worked with a local real estate company and were known as “The Wolf Team”. In 2010 “The Wolf Team” became Wolf Professional Realty PC. This month they will celebrate their fourth anniversary as a Lincoln business. They are known as the “Leaders of the Pack”. Wolf Professional Realty PC works with a very diverse clientele: they represent buyers, sellers, first-time buyers, luxury properties, new construction, investors, acreages, and farms. You may contact Dick, Pat or Scott Wolf at 402-486-1234, or you may send your emails to scott@wolfprorealty.com. You may also visit their website at website at www.wolfprorealty.com.
by Coby Mach, President and CEO
Lincoln Independent Business Association
402-466-3419
LIBA studies and promotes these types of issues that are important to businesses and our community. If you have an interest in joining LIBA, please call me at 466-3419. LIBA membership is not restricted to just businesses. We also have “individual” memberships for those who want to help influence our local government decisions.