LYONS, NEBRASKA – A panel discussion on small business entrepreneurship will highlight "Examining the Nebraska Advantage Microenterprise Tax Credit,” a virtual town hall being hosted by the Center for Rural Affairs, from 6 to 7 p.m, Jan. 25.
“Nebraska has a range of business programs but most are designed for attracting and expanding large businesses,” said Trenton Buhr, policy associate for the Center. “The Microenterprise Tax Credit is the only state program designed specifically for use by the smallest size of businesses. In recent years, declined usage has shown that it is not serving small businesses as well as it could. Legislative Bill 366, recently introduced in the Nebraska Legislature, proposes changes to make the program more effective for entrepreneurs and the state.”
Buhr will be joined by Jim Reiff, executive director of the Nebraska Enterprise Fund in Oakland, and Andrea McClintic, executive director of Dawson Area Development in Lexington.
The Microenterprise Tax Credit is a 20% refundable tax credit for eligible investments which is available to business owners with five or fewer employees. While most businesses of that size are eligible, there are some exemptions. Applicants are also limited to a maximum $10,000 in credits over their lifetime.
In addition to explaining how the program works, the speakers will address how the credit can be used, and current proposals to make the tax credit more effective. Attendees will have the opportunity to share their own small business concerns and ask questions about the tax credit.
Questions can be directed to Buhr at 402-310-6536 or email@example.com.