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Tax Year |
Number of Returns | Federal Adjusted Gross Income (1) | Nebraska Liability Net - Liability (2) | |||||||||
| First 7 Deciles mil.$ | 8th Decile mil.$ | 9th Decile mil.$ | 10th Decile mil.$ | Top 1% of Returns mil.$ | First 7 Deciles mil.$ | 8th Decile mil.$ | 9th Decile mil.$ | 10th Decile mil.$ | Top 1% of Returns mil.$ | |||
| 1995 | 678,430 | 7,806.7 | 2,987.9 | 3,870.2 | 8,702.6 | 2,999.2 | 133.6 | 76.7 | 120.1 | 372.5 | 140.0 | |
| 1996 | 701,425 | 8,387.4 | 3,227.3 | 4,195.4 | 9,724.3 | 3,414.4 | 146.7 | 84.8 | 134.3 | 427.8 | 164.6 | |
| 1997(a) | 717,401 | 9,042.2 | 3,483.2 | 4,537.4 | 10,758.6 | 3,839.7 | 147.8 | 87.8 | 140.9 | 463.3 | 184.2 | |
| 1998 | 727,835 | 9,665.2 | 3,715.1 | 4,883.6 | 12,418.1 | 4,747.2 | 164.0 | 96.5 | 156.7 | 515.6 | 204.8 | |
| 1999 | 737,138 | 10,219.8 | 3,912.7 | 5,134.8 | 13,626.1 | 5,481.3 | 181.1 | 105.6 | 171.1 | 569.1 | 226.3 | |
| 2000 | 722,265 | 10,407.0 | 3,957.4 | 5,192.3 | 13,280.7 | 5,121.8 | 188.0 | 108.6 | 175.5 | 558.5 | 215.7 | |
| Nebraska Expanded Income Shares | Nebraska Net - Liability Shares | |||||||||||
| 1995 | 33.41 | 12.79 | 16.56 | 37.24 | 12.83 | 19.01 | 10.91 | 17.09 | 53.00 | 19.92 | ||
| 1996 | 32.85 | 12.64 | 16.43 | 38.08 | 13.37 | 18.48 | 10.68 | 16.92 | 53.90 | 20.74 | ||
| 1997(a) | 32.50 | 12.52 | 16.31 | 38.67 | 13.80 | 17.60 | 10.46 | 16.78 | 55.17 | 21.93 | ||
| 1998 | 31.50 | 12.11 | 15.92 | 40.47 | 15.47 | 17.58 | 10.35 | 16.80 | 55.28 | 21.96 | ||
| 1999 | 31.07 | 11.90 | 15.61 | 41.43 | 16.66 | 17.64 | 10.28 | 16.66 | 55.43 | 22.04 | ||
| 2000 | 31.69 | 12.05 | 15.81 | 40.44 | 15.60 | 18.24 | 10.54 | 17.03 | 54.19 | 20.93 | ||
| Effective Tax Rate (b) | Nebraska Tax Burden Index (c) | |||||||||||
| 1995 | 1.71 | 2.57 | 3.10 | 4.28 | 4.67 | 0.57 | 0.85 | 1.03 | 1.42 | 1.55 | ||
| 1996 | 1.75 | 2.63 | 3.20 | 4.40 | 4.82 | 0.56 | 0.84 | 1.03 | 1.42 | 1.55 | ||
| 1997(a) | 1.63 | 2.52 | 3.11 | 4.31 | 4.80 | 0.54 | 0.84 | 1.03 | 1.43 | 1.59 | ||
| 1998 | 1.70 | 2.60 | 3.21 | 4.15 | 4.31 | 0.56 | 0.85 | 1.06 | 1.37 | 1.42 | ||
| 1999 | 1.77 | 2.70 | 3.33 | 4.18 | 4.13 | 0.57 | 0.86 | 1.07 | 1.34 | 1.32 | ||
| 2000 | 1.81 | 2.74 | 3.38 | 4.21 | 4.21 | 0.58 | 0.87 | 1.08 | 1.34 | 1.34 | ||
| (1) Nebraska Expanded Income is defined as follows: Total Income (line 22 Form 1040), plus Tax Exempt Interest (line 8b Form 1040) plus untaxed portion of IRA distributions, plus untaxed portion of Pension and Annuities, plus untaxed portion of Social Security and Railroad Retirement income, plus s-corporation and limited liability company loss distribution from non-Nebraska sources (line37 NE Schedule I or line 41 NE Schedule I) minus Non-Nebraska Source Income (line 44 or line 48 Nebraska Schedule I). |
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| (2) Nebraska Net-Liability is defined as: Nebraska liability net of non-refundable credits (line 25 Form 1040N) plus Credit for tax paid to another state (line 19 Form 1040N). |
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| pr. preliminary - contains only returns filed by August 22, 2999. | ||||||||||||
| The most likely impact of the late filed returns will be in the "Top 1%" group. | ||||||||||||
| The late filed returns will be included in the analysis in next year's issue. | ||||||||||||
| (a) LB401, Nebraska Individual Income Tax Rate Cut. | ||||||||||||
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(b) Effective rate is defined as Nebraska net - liability as percent of Nebraska expanded income. |
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(c) Tax burden index is defined as the Net - liability share index weighted by the AGI share index. |
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| Index < 1 income share is greater than net-liability share | ||||||||||||
| Index > 1 income share is less than net-liability share | ||||||||||||