5 States with Income Tax Cuts in 2024

2. Nebraska

Corporate Income Tax in 2024: 5.84%

Corporate Income Tax in 2023: 7.25%

Personal Income Tax in 2024: 5.84%

Personal Income Tax in 2023: 6.64%

Nebraska has reduced its flat corporate income tax rate to 5.84% on income over $100,000 and is set to be lowered to 4.99% by 2027. The personal income tax rate is also set at 5.84%, down from 6.64%. The state plans to reduce the top rate of personal income tax to 3.99% by 2027. Nebraska is ranked among the states with income tax cuts in 2024.