Nebraska Microenterprise Tax Credit

If you are starting a new business and/or expanding your existing small (less than six full-time equivalent employees) business in any of the following ways, you could be eligible for a Nebraska tax credit of up to $20,000:

• New large (>$2,500) asset/equipment additions
• New/expanded building leases
• Advertising expenses
• Legal and professional fees
• Employee compensation

To maximize the credit you must expand your business by a net increase of $100,000 in some or all of these areas over a two year period. However, even smaller expansions can qualify for a portion of the available $20,000 tax credit. If you’re interested in learning more, please reach out to us to discuss the opportunity as the Nebraska Microenterprise Tax Credit application process can be fairly involved and requires a good amount of advanced planning.