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life in rural nebraska

Microenterprise Tax Credits for Local Businesses

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The Microenterprise Tax Credit is an investment program offered through the State of Nebraska Department of Revenue.  This program is available to business owners who employ 5 or fewer employees and who plan to make an investment in their business over the next one to three years.  Each year, the state allocates $2,000,000 to this fund.  As of today, $500,000 is still available.

If you are a small business owner, know of an owner with expansion plans, or one thinking about starting a new business, be sure to tell them about the Microenterprise Tax Credit.  This credit is available to small business owners who plan to purchase or renovate buildings, equipment, or even increase wages during the year.  To qualify, the business owner must plan to invest more this year than they did in 2008 on any of these items.  Purchases of licensed vehicles don’t qualify for the credit.

But hurry!  This money is allocated on a first come, first serve basis.

A copy of the application form can be downloaded at: www.revenue.ne.gov/incentiv/microent/micro_app.pdf
The guide can be found at: www.revenue.state.ne.us/incentiv/microent/micro_guide.htm

Call (308) 728-7875 for more information, or email Nancy Glaubke at: nglaubke@frontiernet.net for more information.

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Written by Nancy

March 13, 2009 at 4:42 pm

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