Nebraska Small Business Inflation Relief Act

This bill would temporarily increase Nebraska’s income-tax deduction for qualifying essential equipment purchased by locally owned small businesses, including tools, machinery, and point-of-sale systems, subject to annual limits established by the Department of Revenue. It would also reduce compliance costs by allowing eligible businesses to use a simplified annual certification for the deduction and directing the Department to issue clear, free guidance. The provisions would sunset after three tax years unless renewed by the Legislature.