Cederberg testifies on Sections 52 and 53 of LB 1

On Tuesday, July 30, John Cederberg, CPA of Lincoln presented testimony in regard to the language in Sections 52 and 53 of LB 1. Cederberg submitted a detailed 11-page letter to the Revenue Committee asking the committee to remove the language in LB 1 that would terminate the provision for Nebraska resident shareholders of S corporations, and Nebraska resident members of LLCs, which have active business operations in multiple states to include in their individual Nebraska taxable income only their proportionate share of the S corporation’s or LLC’s Nebraska source taxable income.

Click here to read Cederberg's letter to the Revenue Committee.