Does Nebraska Tax Life Insurance Benefits?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Nebraska does not charge income tax on life insurance benefits except in very limited circumstances. If the life insurance proceeds are left to the estate as opposed to a person, the life insurance benefits can be taxed. There may be taxes on benefits that are above the face amount of the policy. Also, estate taxes can be paid on the excess of what is exempt from estate taxes, which is 5.25 million dollars in 2013.
    Answered on August 20, 2013
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