Nebraska lawmaker proposes veteran tax credit

Nebraska lawmaker proposes tax credit for veterans starting new career, launching business

Associated Press

LINCOLN, Neb. (AP) -- Veterans who launch a second career or a business in Nebraska could qualify for a tax credit, under a new bill in the Legislature.

Sen. Sue Crawford of Bellevue introduced legislation Wednesday for veterans who earn income other than their military retirement pay. The bill would exempt $1 of military retirement income for every $1 of non-retirement income earned in Nebraska.

The bill would cap the credits available for high-income earners.

The National Conference of State Legislatures says 31 states offer tax benefits to military retirees, including Iowa, Missouri, Kansas and Colorado.

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The bill is LB902

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