Former Nebraska Lieutenant Governor Lavon Heidemann representing the Nebraska Cattlemen Association testified against LB 310 heard recently in the Revenue Committee. The measure sponsored by State Senator Robert Clements of Elmwood calls for inheritance tax rates to be cuts. Heidemann says they would be cut to the point it practically eliminates the tax leading to an increase in property taxes.
He says the current rate of property taxes are more of a problem for cattle producers than is the inheritance tax.
Heidemann says the result of lowering or eliminating the inheritance tax would just shift the tax burden to another area, that being property taxes.
Heidemann says LB 310 has several steps to go through before it’s either approved or defeated. He says Nebraska Cattlemen’s preference is that it doesn’t get out of committee.
