Change provisions relating to a documentary stamp tax exemption

Deed tax break for family transfers

The law exempts some deeds from Nebraska’s documentary stamp tax. You do not pay the tax on transfers between spouses or between ex-spouses to settle marital rights. Parent-to-child gifts with no payment are exempt. Transfers to or from a family-owned corporation, partnership, or LLC are exempt when owners are related within the fourth degree. Step-family counts the same as blood. The deed must be in the entity’s name, not the individuals’. Transfers into a company that one person wholly owns also qualify in these cases: the grantor is that owner; spouses transfer to a company one spouse owns; or family members transfer to a company one family member owns. Most exemptions require no actual payment. Certain corporate actions like issuing or returning stock, liquidation, or dissolving an interest can still qualify.