Nebraska Revised Statute 77-2101.03

Chapter 77 Section 2101.03

77-2101.03.

Tax; calculation.

(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.