Lincoln NE Sales Tax Rate: Everything You Need to Know

Lincoln, Nebraska, is a thriving city with a lot to offer both its citizens and tourists. But before you buy anything in Lincoln, you should be aware of the applicable sales tax rate and any other tax-related details that might be relevant to your purchase. We will address some of the most often asked inquiries about taxes in Lincoln, NE, in this article.

In Lincoln, Nebraska, the current sales tax rate is 7.25%. This rate consists of a local sales tax of 1.75% and a state sales tax of 5%. It is significant to remember that some things, like groceries and prescription medications, might not be subject to sales tax. Additionally, some goods could be subject to a lower sales tax, such as the 1.5% tax on food purchased from a restaurant. If you have concerns about a particular purchase, it is advised that you speak with a tax expert.

For Nebraska homeowners who meet the requirements, there is a program called the Homestead Exemption that reduces their property taxes. The program lowers the homeowner’s property taxes on their primary dwelling. For example, you must have owned and been residing in your house as your primary residence on January 1st of the year you are seeking for the exemption in order to be eligible for the homestead exemption. Depending on the county in which you live, the exemption’s dollar value varies.

Yes, firms who buy goods to resell in Nebraska are required to have a Resale Certificate. A Resale Certificate is proof that the buyer is purchasing goods for resale and is therefore exempt from paying sales tax. You must finish Form 13—which is available online at the Nebraska Department of Revenue—in order to get a resale certificate. How Can I Obtain a Certificate of Resale?

Form 13 must be filled out and submitted to the Nebraska Department of Revenue in order to acquire a Resale Certificate there. The form requests details like your company name, address, and the kind of business you run. When your application is accepted, you’ll get a Resale Certificate that you can use to shop for items to resell.

In Nebraska, mileage is not taxed. However, you might be allowed to claim the miles on your tax return if you use your car for business travel. To make sure you are accurately reporting your business expenses, it is crucial to keep detailed records of your mileage and seek advice from a tax expert.

In conclusion, it’s critical for both locals and visitors to Lincoln, NE, to grasp the various tax rates and laws. You may make wise financial and purchasing decisions if you are aware of the sales tax rate, homestead exemption requirements, resale certificate procedure, and mileage deductions. Visit the Nebraska Department of Revenue website or speak with a tax expert for further information.