The Center for Rural Affairs is opposing LB 879, a bill to repeal the Nebraska Advantage Micro Enterprise Tax Credit Act. Rural Affairs Policy Director Johnathan Hladik says this credit is critical for helping small businesses provide economic development to the state.
He says the limit on the credit is $10,000 but it’s an important tool for agricultural operations.
Hladik says Nebraska has 146,000 businesses with 5 or fewer employees that could quality for the current tax credit. The bill’s sponsor says few people use the credit but Hladik says more could if they were aware of it.
Much of the focus of this year’s legislature is to fund economic development. However, he says it’s not right that State Senators provide help for larger businesses but not for smaller and medium sized ones.
LB 879 has been introduced and is currently awaiting action in the Revenue Committee.
