Nebraska legislators hope Internet sales tax proposals will help narrow budget gap, decrease income

Nebraska legislators hope Internet sales tax proposals will help narrow budget gap, decrease income taxes

LINCOLN — The head of the Legislature’s Revenue Committee said he’d like to see the push to collect Internet sales taxes become part of the broader effort to reduce state income taxes.

State Sen. Jim Smith of Papillion, chairman of the Revenue Committee, has been advocating for a cut in state income taxes for several years.

On Friday that committee heard an avalanche of support for two bills that seek to force Internet retailers from other states to begin collecting sales taxes owed on purchases by Nebraskans.

Each of the bills would generate an estimated $30 million to $40 million a year in tax revenue for Nebraska at a time when state lawmakers are looking for ways to close a $900 million gap between projected spending and tax receipts.

Read more: http://www.omaha.com/news/legislature/nebraska-legislators-hope-internet-sales-tax-proposals-will-help-narrow/article_1c1ac876-e4b3-54e2-a3b6-bffd7549d594.html