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NebraskaLB194109th Legislature 1st and 2nd SessionslegislatureWALLET

Change provisions relating to a documentary stamp tax exemption

Sponsored By: Tony Sorrentino

Signed by Governor

Revenue Committee

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Stamp tax break for family entity transfers

The law exempts Nebraska’s documentary stamp tax when you move real estate into a one-owner corporation or LLC. It applies if you are the sole owner and transfer your own property into your entity. It also applies when spouses transfer to an entity owned by one spouse. It also covers family members who transfer to an entity owned by one family member. The transfer must be without real payment, except issuing or returning stock or ownership interest. For the family rule, record title in the corporation or partnership name. Step relatives count the same as blood relatives.

Sponsors & Cosponsors

Sponsor

  • Tony Sorrentino

    legislature

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 91 • No: 0

legislature vote • 2/21/2025

Final Reading

Yes: 47 • No: 0 • Other: 2

legislature vote • 1/29/2025

Vote

Yes: 44 • No: 0 • Other: 5

Actions Timeline

  1. Approved by Governor on February 25, 2025

    2/26/2025legislature

  2. Passed on Final Reading 47-0-2

    2/21/2025legislature

  3. President/Speaker signed

    2/21/2025legislature

  4. Presented to Governor on February 21, 2025

    2/21/2025legislature

  5. Placed on Final Reading

    2/13/2025legislature

  6. Advanced to Enrollment and Review for Engrossment

    2/7/2025legislature

  7. Placed on Select File

    1/31/2025legislature

  8. Advanced to Enrollment and Review Initial

    1/29/2025legislature

  9. Placed on General File

    1/23/2025legislature

  10. Referred to Revenue Committee

    1/15/2025legislature

  11. Notice of hearing for January 22, 2025

    1/15/2025legislature

  12. Date of introduction

    1/13/2025legislature

Bill Text

  • Introduced

    2/26/2025

    PDF

  • Enrolled / Slip Law

    PDF

  • Final / Enacted

    PDF

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