How LB 401 changes current law

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill amends several sections of the Nebraska Revised Statutes to change provisions related to the taxation of partnerships and small business corporations, as well as the processes for notices of deficiency and claims for refunds.

• 77-2708

  A retailer that makes sales into Nebraska using a multivendor marketplace platform is relieved of its obligation to collect and remit sales taxes to Nebraska with regard to any sales taxes collected and remitted by the multivendor marketplace platform.

  Retailers using a multivendor marketplace are no longer responsible for collecting sales tax for sales remitted by the platform.

• 77-2708

  A multivendor marketplace platform is relieved of its obligation to collect and remit the correct amount of state and local sales taxes to Nebraska to the extent that the multivendor marketplace platform can establish that the error was due to insufficient or incorrect information given to the multivendor marketplace platform by the seller and relied on by the multivendor marketplace platform.

  Multivendor marketplace platforms can avoid liability for incorrect tax amounts if they relied on inaccurate information from sellers.

• 77-2709

  The Tax Commissioner shall allow or disallow a claim within one hundred eighty days after it has been filed. → The Tax Commissioner shall allow or disallow a claim within one hundred eighty days after it has been filed. A request for a hearing shall constitute a waiver of the one-hundred-eighty-day period.

  The bill clarifies that requesting a hearing waives the 180-day limit for the Tax Commissioner to act on refund claims.

• 77-2709

  If a hearing has not been requested and the Tax Commissioner has neither allowed nor disallowed a claim within either the one hundred eighty days or the period agreed to by the claimant and the Tax Commissioner, the claim shall be deemed to have been allowed.

  Claims not acted upon within certain periods are automatically approved if no hearing is requested.

• 77-2786

  This section is amended to clarify the standards for deficiencies and denials of claims for refunds under certain conditions.

  Clarifies standards for handling tax deficiencies and claims for refunds.

• 77-2796

  This section is amended to provide for streamlined processing of claim denials and refunds.

  Streamlines and clarifies the process for denying claims and processing refunds.

• 77-2727

  The provisions relating to partnerships and small business corporations will be updated to reflect current tax practices and standards.

  Updates tax standards for partnerships and small business to align with contemporary practices.

• 77-2734.01

  The section is amended to improve the clarity and efficiency of the revenue collection process related to tax returns.

  Enhances clarity and efficiency in the tax return process for revenue collection.

• 77-2776

  This section is revised to address issues arising from the taxation of small businesses and partnerships specifically.

  Directly addresses taxation challenges faced by small businesses and partnerships.