The Closer – M&A, Securities & Corporate Counsel

Last week, the Nebraska Department of Revenue published a summary of the numerous tax changes resulting from the most recent Nebraska Legislative Session. Income Tax The maximum individual and fiduciary income tax rate was reduced to 6.84%, which will take effect January 1, 2023.  The corporate maximum tax rate was […]

Unanticipated support from a key legislator expands the likelihood of the recently proposed Inflation Reduction Act (the “Act”) passing through the Senate.  Among other goals, the Act aims to increase tax revenue by targeting particularly wealthy individuals and entities.  The Act’s advocates argue that increased tax revenue can be used […]

The Opportunity Zone Investment Program (the “Program”) was authorized by the 2017 Tax Cuts & Jobs Act (“TCJA”) as a mechanism to stimulate economic development in certain low-income community population census tracts designated as Opportunity Zones (“OZs”) by providing tax incentives to investors.[1] Congress intended to create three main incentives […]

Originally Published in the Nebraska CPA Magazine Pub. 4 2022 Issue 2. Many new business owners are excited by the flow-through treatment of income and loss as well as the self-employment tax savings that can be available to entities that elect to be taxed under Subchapter S of the Internal […]

On November 18, 2021 the Congressional Budget Office (“CBO”) released its cost estimate for the revised version of the Biden Administration’s Build Back Better Act (the “Act”), and the House passed the Act the morning of November 19.  The package is estimated to cost $367 billion over 10 years. To […]