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Tax Advantages:
- No personal property tax on intangibles
- No state real property tax
- No sales tax on raw material used in manufacturing
- No sales tax or use tax on production machinery and equipment for
new or expanding industries
- No sales tax on water used for manufacturing purposes
- No sales or use tax on air or water pollution control equipment
- No sales tax on electricity, gas, coal or fuel oil used for industrial
purpose.
State Taxes:
Sales and Use Tax - 5.5%
Individual Income Tax - Top rate of 4.1% on $50,000
Corporation Income Tax - Corporations pay 5.8% on <$50,000 and 7.81% on >$50,000
Corporate Occupation Tax - Varies according to the amount of authorized
capital stock
Local Taxes:
Property Tax - calculated on:
- Earning capacity of the property
- Relative location
- Desirability and functional use
- Reproduction cost less depreciation
- Comparison with other properties of recognized value
- Market Value in the ordinary course of trade (greatest emphasis is
placed on this factor)
- Zoning
Grand Island location.... $2.08071 per $100 valuation
Airport location........... $2.009710 per $100 valuation
City Sales Tax............ 1.50%
Grand Island and Hall County are committed to providing the best services
at the least cost to their citizens. Source: Hall County Assessor, revised
10/07
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