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Nebraska Microenterprise Tax Credit

This credit is available to new or growing businesses.  The credit is equal to 20% of the increase of new investment in the business up to $100,000 of expenditures for a maximum credit of $20,000.  The business must have five or fewer full-time equivalent employees to qualify.

The following expenditures qualify for this credit:

1. Buildings & equipment purchases

2. Repairs & maintenance expenses

3. Advertising costs

4. Legal & professional fees

5. Lease payments

6. Employee wages

7. Employer health insurance

An application must be filed with the state by November 1st to request the funds.  The credit is then taken on the Nebraska individual income tax return.  

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