Monday, October 15, 2007
MANDATORY UPDATE: New Tax Rules (Oct. 15, 2007)
The Nebraska Tax Worksheet is changing to accommodate the new tax rules which will be effective as of January 1, 2008. It will apply to all decedents who die after that date. Please be sure to install this update as soon as possible as it contains many corrections and improvements requested by our Nebraska Probate V users.
Please find instructions for the latest UPDATE. The following are MANDATORY UPDATES.
NEBAR - Automated Forms - RIGHT CLICK TO SAVE
NEBAR - Common - RIGHT CLICK TO SAVE
NEBAR - Probate System - RIGHT CLICK TO SAVE
NOTE: We are very pleased with the number of you who are remembering to update your Probate Systems. Just remember, after applying the update file, the update process involves (1) downloading the updates, (2) running then, and (3) Going into the ADMINISTRATION -> UPDATE UTILITY and choosing “1. Update Application”.
MAJOR CHANGES
- Created new Tax Worksheet for changes effective as of Jan 1 2008. Worksheet required changes in the exemption for classes 1, 2 and 3 as well as changes to a flat tax for any property in excess of the exemption. Changed the exemptions for classes 1, 2 and 3 respectively to $40,000, $15,000 and $10,000. Changed the flat tax rate for classes 2 and 3 respectively to 13% and 18%.
GENERAL UPDATES
Update of all issues reported to us by our users on Fogbuz including:
- Long Form Inventory/Short Form Inventory. Changes to the Inventory forms allowing them to now be successfully created as blanks.
- Form 223. Correction to footer
- Form 231- Correction of text case
- Form 243- Correction to Paragraph Numbering
- Form 252, 253- Correction to Will Dating function
- Form 409 Correction to Notary Block
- Form 422 Correction to attached Bar Notes commentary