What does an old farmer do when it is too hot to work outside? Move inside to enjoy the air-conditioning powered by a solar spill and continue research on the “public interest” of the Keystone XL Pipeline. Last week, I spent some time with the NE Dept. of Revenue’s response to the Public Service Commission.
Following is a summary of that response.
Property tax: It would be difficult to gauge the impact to counties…
Sales and use tax: The amount of sales and use tax liabilities that would be expected and is unknown and cannot be determined accurately..
Income tax: The income tax liability is unknown and cannot be determined…
Nebraska Advantage Act: Transportation of tangible personal property is a qualified business under the Advantage Act. These tax incentives could include a refund of sales taxes paid and investment and employment credits against income taxes. At this time Trans Canada has not applied for the Advantage Act.
I examined the Department of Revenue’s information about the Advantage Act. I soon discovered that personal property taxes can also be exempt under the higher tiers. A very helpful employee from the Dept. of Revenue provided information about the Nebraska Advantage Act. Before giving answers to all my questions, he consulted with others in the Department and called me back. His response, “If Trans Canada applies for Tier 6 of the Advantage Act, their personal property taxes would be exempt for 10 years.”
Besides all the other arguments for not placing a tar sands in Nebraska, the “taxes argument” for KXL just went down the drain. There is no “public interest” in KXL.
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Letters To The Editor are not the opinion of Pitzer Digital LLC, Antelope County News, The Orchard News or its staff.