Capital gains: Taxed as ordinary income.
What changed: Top rate cut from 5.2% to 4.55% on Jan. 1, 2026, on a path to 3.99% by 2027.
| January 1, 2026 | Nebraska top income tax rate cut to 4.55% The top rate fell from 5.2% to 4.55% and is scheduled to reach 3.99% in 2027; Nebraska still levies a county inheritance tax. | In effect |
The IRS said farmers and ranchers in 82 Nebraska counties may get more time to replace draft, dairy, or breeding livestock sold because of drought and defer tax on eligible gains.
The IRS said farmers and ranchers forced to sell breeding, dairy or draft livestock because of drought can get more time to replace animals and defer tax on related gains.
Eight states cut individual income tax rates for 2026 while New York extends its temporary surtaxes on high earners, reshaping the state bill for affluent households and anyone weighing a move.
At 95, Warren Buffett converted 1,800 Class A shares into B shares worth more than $1.3 billion and said he will accelerate gifts while his children can still run the foundations.